The Legal 500

The Finnish CFC legislation implies that a Finnish company may be subject to income tax for its share of the profit of a CFC regardless of whether these profits are distributed by the CFC to its shareholders or not. A CFC is defined as a foreign corporation owned and controlled by a Finnish tax resident that pays income tax in its domicile at a rate less than 60% of the Finnish corporate income tax rate.

One can witness an increase in the volume and complexity of trademark cases in Lithuania during the past few years. Bad faith is one of the most interesting and, probably, the most complicated issue that Lithuanian courts as well as Lithuanian State Patent Bureau1 have recently discussed in a number of their rulings. There is no clear definition neither in law, nor in case practice on what acts should be considered as made in bad faith, therefore, these cases always serve as a basis for extensive public discussions and form grounds for further disputes.

On 26 September the Geneva Act of the Hague Agreement Concerning the International Registration of Industrial Designs came into force in Lithuania. According to this Act the protection of design in other countries shall become easier and cheaper for Lithuanian companies.

On March 1, 2008 a recast Law on Collective Investment Undertakings of the Republic of Lithuania came in force. From this date on, new special collective investment undertakings may be established in the Republic of Lithuania, including real estate investment trusts (REIT), private equity funds, funds of funds as well as hedge funds, etc.

On 1 March 2008, the recast Law on Collective Investment Undertakings of the Republic of Lithuania came in force. From this date on, new special collective investment undertakings may be established in the Republic of Lithuania, including real estate investment trusts, private equity funds, funds of funds as well as hedge funds, etc.