Registration of Patents in the UAE Frequently Asked Questions Preventing others from unjustly, and without a warrant, commercializing that which you have poured your blood, sweat, and tears into, is one of the functions patents serve to protect innovators from and thereby to open doors to endless opportunities. Patents are…
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The Fine(d) Blend of Bitcoins and Multi-Level Marketing (MLM) 'There are three eras of currency: commodity based, politically based, and now, math based.' - Chris Dixon Let’s keep it simple! Cadberry sells chocolates to its distributors worldwide by a distribution contract signed between Cadberry and its agents. In turn, distributors…
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US Sanctions - An Overview Part II of II STA has been one of the few Middle East law firms that have been advising clients on compliance with OFAC regime, the direct and indirect applicability of various OFAC sanctions besides other bodies such as United Nations, to name a few.…
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UAE's Outbound Investment in India 'Foreign Investment is what keeps the whole show going.' - Patrick Barkey Think about a predicament in which a bank would charge its customers a fee amounting to two-thirds of your deposits for the purpose of handling the finances. Bizarre, some might say! However, this…
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Piercing the Corporate Veil “Nothing can be so unjust as for a few persons abounding in wealth, to offer a portion of their excess for the formation of a company, to play with that excess—to lend the importance of their whole name and credit to the society, and then, should…
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Asset Securitization in the UAE (Part II of II) In part one of our series on Asset Securitization, we defined asset securitization, reinforced its importance and illustrated the ways in which it is used for financing purposes. In fact, asset securitization transactions had evolved centuries back and were also, incredibly pervasive…
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Tax Global Guide 2016-17 Volume 1: Tax on Corporate Transactions: Country Q&A "Tax on corporate transactions in the United Arab Emirates: an overview" The United Arab Emirates STA Law firm Tax authorities What are the main authorities responsible for enforcing taxes on corporate transactions in your jurisdiction? The Federal Government of…
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Environment Global Guide - UAE 1. Environmental Regulatory Framework What are the key pieces of environmental legislation and the regulatory authorities? Numerous federal and local laws have been enacted in the UAE to protect the integrity of the country’s environmental laws and regulations. Federal Law Number 24 of 1999 for the…
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Medicinal Product Regulation and Product Liability in the United Arab Emirates: An Overview (Part II of II) In Part I, we discussed technical aspects pertaining to Pharmaceutical Product Regulations applicable in Dubai and the United Arab Emirates. Part I explored varied areas including regulatory bodies and applicable law, regulation of biological…
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Delay Penalty in Construction Contracts “No construction project is risk-free. Risk can be managed, minimized, shared, transferred or accepted. It cannot be ignored” -Michael Latham Scope and usage of back-to-back contracts Back-to-back contracts are becoming an increasingly common feature of construction projects. Construction projects typically involve the collaboration of three…
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Post-Closing Transactional vs Ongoing Enterprise Due-Diligence “Diligence is the mother of good fortune.” - Miguel de Cervantes Saavedra Introduction In July 2016, the Australian Securities and Investments Commission (ASIC) stated that it’s review of 12 initial public offerings (10 of which were small and mid-sized companies), found incredibly poor due…
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Medicinal Product Regulation and Product Liability in the United Arab Emirates: An Overview (Part I of II) 1. What are the main legislation and regulatory authorities for pharmaceuticals in your jurisdiction? Response: Applicable Legislation: Federal Law Number 4 of 1983 (Pharmaceuticals Law 1983) governs and applies to: · Pharmacists. · Pharmaceutical establishments.…
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Be Aware, else Beware (Part I of II) ‘Ignorance of the law excuses no man; not that all men know the law, but because it’s an excuse every man will plead, and no man can tell how to refute him’ - John Seldon The law has provided that an ignorance of…
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Different Strokes for Different Courts In January of 2012, Macy’s, a renowned retail store, decided to sue Martha Stewart for entering into a contract with a rival retail store J.C. Penney, which they claimed breached their own contract with Martha Stewart for exclusive products in 2006. This led to a…
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