By: David Kay; Lerch, Early & Brewer (Maryland, USA - TAGLaw)

What can you as a business owner do to protect your business or maximize its value if you lack the voting power to control the business? Entrepreneurs enter into 50/50 ownership situations, or worse, for a variety of reasons and with the best of intentions. Over time, one owner may prove to be more energetic, visionary, and successful, but may lack decision-making power on issues like fair pay or taking risks to grow the business. Disagreements on these and other fundamental issues can put in danger the very existence of a now successful business.

Read more: Power Trip: How to Resolve Power Abuse in a 50/50 Business Partnership

By: Att. Ecem Cetinyilmaz; Erdem & Erdem (Turkey - TAGLaw)

Introduction
The Regulation on Distance Contracts ("New Regulation") has been recently promulgated in the Official Gazette dated 27 November 2014 and numbered 29188 pursuant to the Law on Protection of Consumers No. 6502 ("Law"). Upon the expiry of the three month period as foreseen under the New Regulation, it entered into force on 27 February 2015 and abolished the former Regulation regarding Distance Contracts which was published in the Official Gazette dated 6 March 2011 and numbered 27866 ("Former Regulation").

Read more: New Regulation on Distance Contracts

Contact: Phillipa HobbinsClarkslegal LLP (Reading, England - TAGLaw)

The Companies Act 2006 (“the 2006 Act”) codified the existing ‘common law’ rules and equitable principles relating to the responsibilities a company director has to the company and shareholders. These duties apply to executive, non-executive and shadow directors.

Read more: Directors' Duties

Contact: Al Rowaad Advocates & Legal Consultants (United Arab Emirates - TAGLaw)

Whether there is a need to restructure a business, to protect assets or simply develop an international presence for a business, one of the ways of doing so, is by opening an Offshore company.

Read more: Offshore Companies in the UAE

Contact: Rebecca QuinnClarkslegal LLP (Reading, England - TAGLaw)

The European Court of Justice has recently made a decision that has clarified certain provisions of the Unfair Contract Terms Directive (invoked via the Unfair Contract Terms Act), which applies to consumer contracts, with a review of supplier controlled price variation clauses.

Legislation prohibits the use of unfair terms in consumer contracts including the "grey list” in UCTA. This prevents the use of certain contractual terms that have the object of, or have the effect of:

  • Binding the consumer to a contract they didn’t have the chance to fully understand
  • Allowing a supplier to alter the conditions of the contract without a valid reason that is not specified in the contract
  • Allowing the supplier to increases its prices without giving the consumer the ability to dissolve the contract before the price rise

Read the entire article.