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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Since the global financial crisis in 2009, international insurers (such as Prudential, Aegon and the ING Group) have withdrawn their physical presence from the Taiwan insurance market due to fierce price competition from local players and low growth in the Taiwan market in comparison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Under Taiwan’s patent law, an invention must not be published before a patent application is filed in order for it to be patentable.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
The amendments to the Insurance Law have passed the first reading of the legislative body in May to deter unapproved offshore insurance policies by raising the punishment from administrative fines between TWD 0.9 million and 4.5 million to imprisonment of up to 3 years, or criminal fines between TWD 3 million and 20 million, or both.