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Articles contributed by STOICA & Asociatii Attorneys at Law
Following the implementation in the domestic law of the Trade related Aspects of Intellectual Property Treaty, the Romanian Unfair Competition Law defines the trade secret as an information which is not generally known or is not easily accessible to the people usually dealing with this kind of information, which derives economic value from the fact of being secret and for which the legitimate holder took the reasonable steps to keep it secret. Anything may be a secret of economic value: a process, an error to avoid, an invention, an idea, a discovery, a prognosis, a list of clients or suppliers, a strategy, the source-code of a software, a formula, a fact.
The years following the collapse of the communist regime in Romania and the last period of time coinciding with Romania joining the European Union expressed a rapid increase trend of the real estate market, along with the economical development of the country.
The fundamental condition for a merger and acquisition process to take place is the internal and external corporate growth. Almost 20 years ago, Kenichi Ohmae described the growing realization that the world business and economic community is truly a triad, managed by the industrial complexes of Japan, North America and Western Europe.
For all that mater, (European) syndicated lending happens in London. This means that the English law will govern (most of) the transaction triggering the use of common law principles. In many cases the borrowers or the guarantors are on the Continent, i.e. located in civil law jurisdictions. More often then before, in these murky times of the liquidity crisis, the borrowers are located in Eastern Europe. The "European Tigers" are in great need of financing and, most important, the amount of the financing they need is rarely more then EUR 100 million. These amounts are still available on the market at a reasonable price. A totally new market for small and medium sized syndications has emerged.
One of the fundamental elements of the EU integration process, with a high impact on all the other interest areas of the "acquis communautaire" regarding the "Internal Market" refers to the implementation of an efficient and credible system of public procurement. As time has proved, the previous system, as regulated by GEO no. 60/2001, was deficient as to the effective development of the procedure, as well as to the efficient challenge of the legal acts issued within the framework of this procedure and appreciated as unlawful by certain participants.