The term "beneficial owner" has been used in various tax treaties between mainland China and other foreign countries (including the double taxation arrangements with Hong Kong and Macao) and the status is often a pre-requisite for non-resident enterprises claiming preferential tax treatment in the PRC.

The Hong Kong Companies Legislation is on the verge of a major overhaul.

Marital homes are often purchased in the joint names of husbands and wives. It is also common that the husband would get a bank loan and mortgage the marital home as security.

Prospective buyers of new apartment developments in Hong Kong are often misled by artists’ impressions of grand clubhouses, photos of unobstructed sea views or lush greeneries appearing in sales brochures even though the development sites are actually located near public residential housing, landfill sites or sewage treatment plants.

On 9 January 2009, the Court of First Instance in Hong Kong allowed an appeal by Creative Resources LLC (“Creative Resources”) against the Trade Marks Registrar (“Registrar”) for his refusal to register the trade mark “NAKED” in Class 10.

The Anti-Monopoly Law (the "Law") of the People's Republic of China ("PRC") came into effect on 1 August 2008.

On 13 May 2009, the Supreme People’s Court (“SPC”) of the People’s Republic of China (“PRC”) issued an “Interpretation on Several Issues concerning the application of the PRC Contract Law (2)” (“Interpretation”).

The Racial Discrimination Ordinance (“RDO”) which was passed in July 2008 finally came into force on 10 July 2009. This is a significant milestone in the development of anti-discrimination law in Hong Kong.

While the high profile collapses of US corporate giants Enron, Worldcom and Tyco dominated the business news internationally in recent years and caused a major shift in the way auditors conduct their business, Hong Kong’s largest liquidation, that of the former high flying Akai Holdings Limited ("Akai"), is also providing some interesting insights into the complex issues faced by professional advisers in the current climate of public interest increasingly overriding traditional rights

At the same time as corporate governance reforms are requiring more independent non-executive directors to be appointed, there is a growing recognition that the companies who appoint them, their shareholders, the authorities and the general public are expecting higher and higher standards of care and skill.

In June 2003, the Supreme People's Court issued a new Judicial Interpretation regarding the law on contractual disputes over the sale and purchase of private housing in the PRC.

New laws that will come into effect on 11 December 2004 will significantly liberalise foreign participation in retail and wholesale activities in China. The new measures will significantly relax the requirements for establishing foreign invested enterprises ("FIEs") in wholesale, retail and related sectors, partially remove geographic restrictions and simplify approval procedures.

The growth of online copyright infringement has posed serious challenges to copyright owners and more of them are now relying on the "Norwich Pharmacal" discovery order to require disclosure of the identity of infringers from online service providers.

The casualties of the sub-prime crisis have thus far been confined to financial institutions and investor confidence is at an all time low despite unprecedented measures by central banks around the world injecting hefty funds to shore up financial institutions and large corporations except for Lehman Brothers.

Hong Kong's new Arbitration Ordinance was passed by the Legislative Council in November 2010 and is expected to come into force early this year.

In a move welcomed by both domestic and foreign investors, the State Administration of Industry and Commerce ("SAIC") promulgated the "Administrative Measures for Registration of Capital Contribution by Equity Stock" on 14 January 2009 ("Measures") and the Measures became effective on 1 March 2009.

It is established law that neither gratuitous commission nor discretionary commission is to be included in the calculation of holiday pay or annual pay.

A recently reported case in Hong Kong has highlighted some of the problems arising when a contract is repudiated.