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Taiwan’s economy is beginning to show signs of improvement after what has been a relatively stagnant period in recent years, with the Directorate General of Budget, Accounting and Statistics recently reporting that GDP grew 3.84% year-on-year in the second quarter of 2014 – the highest rate in six quarters. This period of growth has been driven by increasing demand from the US and China, the two major partners engaged with Taiwan’s export-dependent economy. Foreign direct investment (FDI) remains relatively low, however, and although strategic M&A is quite active, the government’s current resistance to private equity investment has certainly impacted upon the deployment of funds in the country.
Lee and Li is the largest local law firm, having strength-in-depth across the full spectrum of practice areas, and is the undoubted market leader. Nevertheless, other firms including Tsar & Tsai Law Firm, Formosan Brothers Attorneys at Law and Formosa Transnational all have credible offerings across multiple practice areas and provide stiff opposition in select areas.
Several international law firms are also present in the country; Baker & McKenzie’s office was established in 1975, since when a number of other firms have followed suit, including Jones Day and K&L Gates.
In addition to the country’s significant biotechnology and medical research industries, Taiwan has also established itself as one of the world’s leading exporters of high-end electronic components and products. Consequently, intellectual property matters generate a significant volume of work in the jurisdiction. Much of this is trade mark and patent filing and prosecution, which is undertaken by both law firms and patent and trade mark firms, the most significant of these being Saint Island International Patent & Law Offices, TIPLO Attorneys-at-Law and Top Team International Patent & Trademark Office.
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In a recent court judgment, the Taipei District Court (“TPDC”) affirmed, as upheld by the Taiwan High Court (“THC”) in April 2010, the validity of a package limitation clause in a contract of carriage. The TPDC held that not all clauses for the exclusion or limitation of liability, as contained in a document relating to a contract of carriage, would be void, and that whether such exclusion or limitation would be unconscionable depends on the underlying facts and circumstances leading to the conclusion of the contract in question. The TPDC nevertheless limited the application of the package limitation clause to losses occurred during air transportation.
The Internet is widely used by nearly every household on the planet and the penetration rate continues to climb each year. E-commerce or online shopping is transforming the retail sector where some markets have been affected more than others.
Since the global financial crisis in 2009, international insurers (such as Prudential, Aegon and the ING Group) have withdrawn their physical presence from the Taiwan insurance market due to fierce price competition from local players and low growth in the Taiwan market in comparison to the neighboring China and other emerging Asian markets.
The global economy and market underwent a volatile year in 2011 faced with an historically severe natural disaster in Japan, a crisis in the Euro Zone and debt crisis in the United States. Despite the global downturn, merger and acquisitions (M&A) remained robust and active in Taiwan in 2011.
The Guidelines Governing Disclosure of Information by Franchisors were first promulgated by the Fair Trade Commission in 1999.
Under Taiwan’s patent law, an invention must not be published before a patent application is filed in order for it to be patentable.
According to the Companies Act, “in convening a meeting of the Board of Directors, a notice setting forth therein the subject(s) to be discussed at the meeting shall be given to each Director and Supervisor no later than 7 days prior to the scheduled meeting date.
The Taiwan Intellectual Property Office (TIPO) recently completed a review of several copyright public performance royalty rates set by copyright collective management organizations (CMOs).
In the December/January 2011 issue, we reported that an amendment to the Securities and Exchange Law was adopted to request listing companies establishing compensation committees. And, under the authorization of the Law, qualifications of the members and the competence of the compensation committee will be promulgated by the Financial Supervisory Commission (FSC), the financial regulator in Taiwan.
to Enable Collection of Sensitive Personal Data
VEGAS LEX experts discuss Russian roads and PPP projects at the fifth international specialized exhiRoad 2014, the 5th international specialized exhibition and forum held in Moscow earlier this month and attended by VEGAS LEX, focused on effective development mechanisms for Russia's public road system and on legal aspects of public-private partnership projects
The VEGAS LEX law firm has held a seminar, Signing a Concession Agreement: an Insider's Insight , for the staff of Bank of Moscow legal department and business divisions.
Julia Tormagova, head of VEGAS LEX Commercial Group, will speak about trends in the law enforcement practice on the market for pharmaceuticals in 2014.
Popov & Partners Law Office was chosen by Ministry of Finance once again for consultant service of MPopov & Partners Law Office is finishing successfully and before the appointed time, its work on concluded in May 2013 contract with Ministry of Finance for conducting subsequent control of public procurements financed by Operational programme "Administrative capacity". As a result of the quality and effective implementation, in the beginning of September 2014, Ministry of Finance entrusted a second time team of the Law Office for implementing activity for subsequent control of public procurements financed by Operational programme "Administrative capacity", as choose Popov & Partners Law Office for executor of a public procurement. Term of the second contract concluded with Ministry of Finance is until the end October 2015. During its implementation, Popov & Partners Law Office will aim increasing transparency and efficiency in the field of implementation of projects, financed by European social fund, and will contribute for lawful utilizing of funds on Operational programme "Administrative capacity".
Goltsblat BLP , the Russian practice of the leading international law firm Berwin Leighton Paisner (BLP) , is providing the Italian clothing brand TWIN-SET Simona Barbieri with legal support for its entry on to the Russian market, including setting up a joint venture and opening a number of own-brand stores across Russia.
Leading Hungarian law firm, Lakatos, Köves and Partners, has been advising Bayerische Landesbank ("BLB") on the sale of its Hungarian subsidiary MKB Bank Zrt. which closed on Monday 29 September 2014.
Kyiv, 17 October 2014 - AstapovLawyers has advised Lexmark International Technology S.A. (Switzerland) on legal matters pertaining to the signing of distribution agreement with a Ukrainian company. The advice included review and adjustments of the wholesaler contract, drafting arbitration clause and on Ukrainian law matters applicable to the contract.
Zavadetskyi Advocates provided for tax clearance of the transaction for cross-border transfer of the loan portfolio from the balance sheet of the Ukrainian bank to the balance sheet of the UK bank of a Greek banking group. As a result of this work an official tax clarification has been obtained that allowed favorable conditions for the transaction.
Kyiv, 11 August 2014 - Avellum Partners announced that it has acted as the Ukrainian legal counsel to Ferrexpo in connection with the following three export financing credits:
Kyiv, 2 September 2014 – Avellum Partners announced that it has acted as the Ukrainian legal counsel to Ferrexpo in connection with the acquisition of an electrified railway of over two kilometers long and a power line.