The Securities and Exchange Commission recently adopted an amendment to Rule 15c6-1 under the Securities Exchange Act to shorten the standard settlement cycle for most broker-dealer transactions from three business days after the trade date to two business days. This is designed to enhance efficiency, reduce risk and ensure a coordinated and expeditious transition by market participants to the shortened standard settlement cycle.
It is common for a franchisor to initiate litigation when a former franchisee uses the franchisor's confidential information or trade secrets or otherwise fails to return such information following the expiration or earlier termination of the franchise agreement. As one case makes clear, franchisors in Texas must pursue any tort claims relating to a franchisee's improper use of the franchisor's trade secrets or confidential information under the Texas Uniform Trade Secrets Act.
If a foreign national who owns real estate in Turkey dies, his or her successors must have recourse to the Turkish courts and obtain a certificate of inheritance in order to complete the transfer of the real estate under their names before the land registry or be able to legally dispose of the property in any manner. A recent case illustrates that this issue can be overcome by the submission of specific documents issued by the competent authorities of foreign countries, testament or notary statements.
Four significant decisions have recently affected how data controllers respond to subject access requests (SARs) under the Data Protection Act 1998. In one case, the court declined to enforce further compliance with a SAR as the data controller had already carried out proportionate searches and properly applied the privilege exemption. In the others, it considered the limits on a data controller's obligations when responding to a SAR.
The Commercial Court was recently faced with an application by the defendants to strike out claims against them on the basis that the claimant had failed to serve claim forms that it had issued several years earlier. The claimant made a cross-application for alternative service or alternatively for service to be dispensed with under the Civil Procedure Rules. The court refused the cross-application and struck out the claim forms. The judgment contains a useful distillation of the principles relevant in this area.
For litigants involved in disputes concerning cross-border matters between Hong Kong and mainland China, the new Arrangement on Mutual Taking of Evidence in Civil and Commercial Matters between the Courts of the Mainland and the Hong Kong Special Administrative Region is a welcome development. It should speed up the process for Hong Kong parties seeking evidence in the mainland and provide more certainty in the scope of assistance available to them.
A recent Supreme Court judgment placed a limit on the application of the general Civil Procedure Rules in cases filed before a rent control court (RCC). In the case in question, tenants appealed against an RCC decision. In its judgment on the appeal, the Supreme Court stated that the right of a tenant to file an opposition is a right provided for by the law and that it is not within the RCCs' discretion to allow or disallow such a filing.
The Ontario Superior Court of Justice recently released an important decision regarding the law of social host liability in Ontario. The case is a wake-up call for social hosts – in particular, the parents of teenage children – who assume that they have no risk or exposure of liability if an intoxicated guest leaves their home and injures themselves or someone else.
The Court of Appeal recently reversed, on appeal, a High Court judgment setting aside the Ministry of Health's decision to award problem gambling services contracts to parties other than the applicant, the Problem Gambling Foundation, a major incumbent provider. The decision is important because it significantly decreases the likelihood of unsuccessful bidders being able to use the government procurement rules to set aside procurement decisions.
A new chapter regarding IP rights enforcement has been added to the Customs Rules 2001. The new chapter provides a mechanism by which rights holders with valid grounds for suspicion that infringing goods are being imported into Pakistan can make an application (in the prescribed format) to the Directorate General of IP Rights when the goods arrive at the notified customs station.
In 2016 Eli Lilly submitted claims to international arbitration under the North American Free Trade Agreement (NAFTA) seeking damages from the government of Canada, asserting that the Canadian courts' application of the promise doctrine to Eli Lilly's Strattera (atomoxetine) and Zyprexa (olanzapine) patents contravened Canada's obligations under NAFTA. The tribunal recently issued its final award dismissing Eli Lilly's claims.
The Supreme Court recently heard oral argument in TC Heartland LLC v Kraft Food Brands Group LLC. The case concerns the application of part of the general venue statute which allows a corporation to be sued in multiple districts. If the court rules in TC Heartland's favour, the venue in patent cases could potentially be limited to those districts where the defendant is incorporated or has a regular and established place of business.
In 2015 the Taiwan Intellectual Property Office (TIPO) held a public hearing regarding whether and how to extend the term of design patents and introduce a system of deferred publication for design patent applications. TIPO plans to extend the term of a design patent to 15 years from the date of filing. It also plans to study whether the term extension should cover new design patent applications filed after the new law takes effect or all valid pending design patent applications as of the date of the new law.
The Business, Energy and Industrial Strategy Committee's recent report on its inquiry into corporate governance suggests significant changes may be ahead. The report makes a number of noteworthy recommendations, including introducing a rating system publicising examples of good and bad corporate governance practice by companies and simplifying the structure of executive pay.
The relationship between INA (the national oil and gas company) and MOL (Hungarian Oil and Gas Plc) goes back to 2003, when INA was privatised through a public procurement process. However, the Croatian government and MOL are in two international disputes over INA. Following a recent decision, the prime minister announced that the government will initiate the process to buy-out MOL's shares in INA.
An important amendment to the Unfair Competition Prevention and Trade Secret Protection Act was recently published. Under the new amendment, infringers that violate the 'dead copy' provision of the act may be subject to imprisonment for up to three years or a fine of up to KRW30 million. By introducing criminal penalties for violations of the dead copy provision, this amendment will make it less arduous and expensive for parties to enforce their rights against infringing products.
EU Trademark Court Number 2 of Alicante recently upheld the lawsuit filed against Equivalenza for its use of trademarks belonging to Hugo Boss, Gucci and Lacoste in its sale of alleged smell-alike perfumes. Despite an earlier conviction for third-party trademark use, Equivalenza did not change its business model. Consequently, the court ordered it to cease and desist offering, marketing and promoting its perfumes using the plaintiffs' trademarks, among other things.
With many of the foundations for its success already laid, solar photovoltaics is expected to dominate the global energy conversation in 2017. What remains to be seen is whether solar can compete (and whether it makes sense) and how the world's energy systems can be redesigned to accommodate the inevitably high and varying levels of deployment.
In the past 20 years, the Mexican Institute of Industrial Property (IMPI) has made it easier for IP owners to use online services. In March 2016 the biggest steps towards a serious change were taken – namely, the issuance of rules for electronic filing and the launch of the online patent and notification systems. However, there is still some way to go before the IMPI is completely paperless.
The double tax agreement between Cyprus and Jersey recently entered into force following completion of all the requisite ratification procedures. It will take effect with regard to taxes withheld at source in respect of amounts paid or credited on or after January 1 2018 and for other taxes in respect of tax years beginning on or after that date. The new agreement applies to taxes on income and gains from alienation of movable or immovable property.