LEGAL
An issue dedicated to international challenges
In today’s world, where geographical barriers are all but erased because of technology and globalization, companies of all sizes will find themselves crossing borders– whether to work with a supplier, forge new markets and identify new customers, develop relationships with strategic partners, or license technology to new organizations; the reasons to go global are endless. Accordingly, it is vital as corporate counsel to stay abreast of laws and regulations of the jurisdictions where your company is conducting business. In addition to the issues facing multi-national legal departments, this month we are featuring multiple articles discussing various legal implications driven by Brexit. Also be sure to check out the Westlaw® Corporate Twitter® feed, the Corporate Counsel News & Views section on legalsolutions.com, and the Legal Solutions Corporate Counsel blog for more in-depth articles and information on international issues.
The Insider: Ten essential points to a successful transborder transaction
One of the most exciting events for in-house lawyers is when their company becomes involved in a merger/acquisition, joint venture, or other strategic transaction. It becomes even more challenging when the transaction is international in nature. And it really becomes fun when it involves multiple companies in multiple countries. While such transactions are rare for most companies, many in-house counsel will need to deal with a transborder transaction at some point in their careers. Here’s how to navigate it.
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Going global: An introduction for in-house counsel
For the past several centuries, companies wishing to do business internationally were faced with two major problems: distance and time. Fortunately, with the emergence of virtually instantaneous communication methods and the ability to be in almost any part of the world within 24 hours, distance and time are no longer major concerns for operating on a global playing field. In fact, today all businesses must operate and compete in a rapidly changing international environment that includes both opportunities and challenges.
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Global IP trends: A guide to recent international considerations for patent rights
With the rapid progression of technology, companies both large and small are increasingly doing business on a global scale. These companies often consider a global strategy to protect their intellectual property, which is central to their goal of maintaining a large global presence. While treaties such as the Madrid Protocol and Patent Cooperation Treaty offer harmonization of IP standards and certain pan-territorial rights generally, IP procurement and enforcement remains a fragmented system with differing national rights, woven together by a delicate web of international implications.
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The new EU cybersecurity directive: Preparing for greater scrutiny of your data security policies
On July 6, 2016, the European Parliament adopted the Directive on Security of Network Information Systems, which represents the first EU-wide rules on cybersecurity. While the law does not come into effect until May 2018, it will be critical for companies operating in the European Union to understand whether or not the law applies to them and, if so, what will be required for compliance. This article provides a brief primer on the Directive itself and then gives companies three ways in which they can prepare to meet its requirements.
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Brexit: Some potential implications for employers
On June 23, 2016, the people of the United Kingdom voted, pursuant to a referendum called “Brexit,” to leave the European Union. The UK is a Member State of the EU, and so is subject to EU law, in addition to UK law that does not conflict with that of the EU. Thus, an employer with workers anywhere in the UK currently must comply with EU laws as they have been specifically implemented in the legal system of each EU Member State. What does Brexit mean for U.S.-based companies employing people in the UK or with UK or European expansion plans?
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“Brexit Bites”: Governing law, jurisdiction, and arbitration clauses
The Brexit vote “is expected to lead to a high degree of uncertainty and disruption.” That uncertainty is likely to be felt on a number of fronts and is unlikely to be confined to the UK or even Europe. It is difficult to predict with any confidence, even over the short term, what the political, economic, and social consequences of Brexit will be. Its legal consequences are inextricably linked with these and other factors. Again, only time will tell. Of one thing we can be sure: businesses should anticipate, plan for, and seek to manage the resolution of commercial disputes.
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Is the UPC Brexit-proof?
The UK’s vote to leave the EU in the so-called Brexit referendum has triggered the question of whether or not the Unified Patent Court (UPC) project and the Unitary Patent is dead. The short answer is: It is too early to take a stance. The longer answer shows why that is. First, the success of the UPC project depends on the political will to pursue it. Many other topics will be high on the political agenda, so the UPC may not be at the top of the pile.
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With MAN’s escape from “record fines,” EU Commission provides strong incentive for whistleblowers
With the Securities and Exchange Commission (SEC) continuing to pay whistleblower awards since its eponymous program began five years ago, there are seemingly greater incentives than ever for insiders to report wrongdoing within their organizations. This also holds true abroad, specifically in the EU, where, in July, regulators levied a record €2.9 billion fine ($3.2 billion) against Europe’s biggest truck makers for engaging in a 14-year-long illegal cartel.
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Navigating risk while going global
When companies decide to enter new markets or expand existing operations – whether by acquiring a company, investing fresh capital in an overseas division, or joining forces with a local partner – risk increases alongside the variables involved. But so do potential rewards. And while risk cannot be entirely controlled, it does need to be examined and communicated effectively at the company board level for it to be better mitigated by senior executives and their teams.
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Effect of EU Market Abuse Regulation on non-EU issuers • Advance waiver of arbitrator’s conflicts of interest • Revised HSR filing thresholds
What you need to know about the recent Market Abuse Regulation changes as a non-EU issuer, plus the report from the International Commercial Disputes Committee of the New York City Bar Association addressing the increased use of advance waivers of arbitrator conflicts of interest in international commercial disputes. Finally, the revised thresholds for premerger notification filings under the Hart-Scott-Rodino (HSR) Act that the FTC issued earlier this year.
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Top 10 problems to be aware of when developing global processes
The fast pace of globalization has not left the corporate legal department behind. We all find more instances where collaborating with our colleagues from around the globe is required to resolve the legal issues our company faces. This leads to challenges apart from the standard language concerns than can touch on all aspects of our business. Not just that, it also requires us to reevaluate some of the more simple actions we take daily.
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