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This is everything you need to know about emerging business issues. The TerraLex Coronavirus Business Response Resource Center is a compilation of resources from TerraLex members from around the globe covering the most current business issues arising from the global pandemic.
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AUSTRALIA
BRAZIL
CANADA
ECUADOR
ENGLAND
GERMANY
MALTA
SWITZERLAND
USA
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Smart Legal Contracts - Current Applications, Roadblocks, and the Way Forward
The concept of a 'smart legal contract' is frequently raised in discussions about the future of legal practice and the offerings that technology can provide to streamline legal services for clients. Exactly what a smart legal contract looks like, the nature of its capabilities, and potential applications in practice have remained relatively obscure. This article will revisit basic concepts of smart legal contracts, explore a current case study, acknowledge hurdles to wider use, and address future possibilities.
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Pandemic Panic? Keep Calm and Carry On: A Human Resource Manager's Guide to Coronavirus
COVID-19 (or coronavirus) is new, largely unknown, unpredictable, and therefore very serious. Careful, considered and systematic planning will help you manage the people risks in your business and will stand you in good stead to deal with a rapidly-shifting COVID-19 landscape, as well as any future crisis that may emerge. These practical tips have been written to assist HR managers and employers in Australia in meeting safety obligations, resource planning, and keeping your people safe.
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Brazilian Data Protection Law - Recent Developments
Foreign business entities expanding into the Brazilian market should become familiar with the New Brazilian Data Protection Law (BDPL) recently enacted, which will become effective in August 2020. The BDPL, also known as General Personal Data Protection Law, shall even apply to companies headquartered outside the Brazilian territory, provided that (i) the processing operation occurs within the Brazilian Territory; (ii) the purpose of the processing activity is the offer or the supply of goods/services or the processing of data of individuals located in the Brazilian Territory; or (iii) the personal data to be processed have been collected in the Brazilian Territory.
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Ontario’s Superior Court of Justice has upheld the termination of a 30-year employee with a clean disciplinary record following a single incident of sexual harassment. The Court’s decision in
Render v ThyssenKrupp Elevator (Canada) Limited
highlights the significance of “aggravating factors” in cases where just cause for termination is alleged. Such aggravating factors can include an employee’s lack of remorse and failure to understand the seriousness of his or her misconduct following an incident of sexual harassment.
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As useless as is having a bicycle with flat tires is having an arbitral award that cannot be enforced. Fortunately, international conventions such as the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, commonly known as the New York Convention, have been significantly helpful for the enforcement on international arbitral awards worldwide. The signatories of the New York Convention have an obligation not to impose more strict conditions for the enforcement of an international award as they would impose for a domestic one (Article III). Ecuador is a signatory to the New York Convention, however, in 2015 the country changed its code of civil procedure and imposed an exequatur procedure for foreign awards. Some legal reforms enacted in 2018 modified this requirement. Nevertheless, there are still practical difficulties that parties face when enforcing an international award in Ecuador despite reform of the law.
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First UK Court Decision Applying Cofemel
The IPEC has issued its first ruling following the CJEU's decision in Cofemel, finding that "complete conformity" with EU law would exclude any requirement of aesthetic appeal.
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The EU Price Regulation on cross-border payments (Regulation EC/924/2009) has been revised. As of April 19, 2020, the new EU Price Regulation (
EU 2019/518
), among other things, imposes stricter transparency obligations for currency conversion fees for electronic transfers (web or online and mobile banking) and in connection with card-based payment transactions (use of a payment card at the POS and at ATMs).
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Reformed Corporate Governance Code Submitted to the BMJV for Re-examination
Good things come to those who wait. On January 23, 2020, the Government Commission on the German Corporate Governance Code submitted the new version of the Code adopted on December 16, 2019, to the Federal Ministry of Justice and Consumer Protection (BMJV) for review.
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There are various procedures to which a Maltese-registered company may be subjected in terms of Maltese law. Among the said modes of action is what is known as the members’ voluntary winding up. This refers to the solvent voluntary liquidation of a company and specifically necessitates that the company in question will be able to pay off its debts in full within a period not exceeding 12 months from the proposed date of dissolution.
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In a recent case dealing with the reimbursement of costs incurred by an employee working from home, the Swiss Supreme Court ruled that the room used as office and archive by the employee was subject to reimbursement by the employer in case an adequate workplace is not provided to the employee.
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CDC Issues Guidelines for Ships Amid Coronavirus Outbreak
In response to the Coronavirus outbreak (COVID-19), the Centers for Disease Control and Prevention (CDC) has issued guidelines for ships originating from, or stopping in, the United States to help prevent, detect and medically manage suspected cases.
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Navigating the New CFIUS Landscape for Foreign Investment in the U.S.
New rules that became final on February 13, 2020 dramatically expand the jurisdiction of the Committee on Foreign Investment in the United States (CFIUS). Where CFIUS was once concerned only with transactions that would result in foreign control of a U.S. business, the Committee’s authority now extends to
non-controlling
investments in a broad range of U.S. businesses involved with critical technology, critical infrastructure, or sensitive personal data – collectively denominated “TID U.S. businesses” – as well as in certain real estate.
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