Category Archives: Uncategorized

Legal Implications of Cloning

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Acording to The Guardian, Chinese scientists are currently planing to build the world’s largest animal cloning factory in China.

Xu Xiaochun, the chief executive of BoyaLife, the company behind the 200m yuan (£20.6m) project, said it would begin operations in the first half of 2016 in Tianjin, a city about 160km (100 miles) from Beijing.

“We are going [down] a path that no one has ever travelled,” he told the Guardian following the unveiling of the factory’s blueprint this week. “We are building something that has not existed in the past.”

The legal implications, worldwide of this new developed techniques, used for both company animals and livestook needed are still debated in both the United States and European Union authorities. After a lengthy debate over cloned livestock, the US FDA ruled that clones were as safe to eat as any other cattle, pigs or goats. But most cloned cattle in the US are used as breeding stock, to raise the quality of herds, rather than to sell for food.

In the UK, meat and milk from cloned cows are considered “novel foods” and suppliers need special permission to sell them. In 2010, beef from the offspring of a cow cloned in the US entered the food chain, leading to an investigation by the Food Standards Agency.

However, despite this techniques meeting the safety regulations of food, legal disputes both in Intelectual Property and Food Safety Regulations will arrise in the immediate future.

Source The Guardian

Corporate Advisory

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Our focus on assisting international companies in consolidating their presence in Romania has involved multiple mergers and acquisitions and transfer of assets, both tangible and intangible, due diligence exercises and general Corporate Structure maintenance work.

Our work has included assistance for a number of international investors in establishing new operations in Romania through various entity forms including limited companies, joint ventures, representative offices, branch offices, regional offices, regional operating headquarters and associations.

In order to help our Clients focus on the performance of their activity we assist the Clients in drafting, preparing and negotiating various types of commercial contracts, including but not necessarily limited to joint venture agreements, shareholders agreements, lease agreements, management services agreements, employment agreements, design and construction contracts, franchise agreements, distributor/agent agreements, licensing agreements, confidentiality/non-disclosure agreements and business/assets sale and purchase agreements, in full compliance with both Romanian and E.U. Legislation.

We offer legal advice in Technology, Media and Telecommunications Law as well as Intellectual Property Law, the department being coordinated by Doru Traila, Associate Professor of Contracts Law and Intellectual Property Law of the Bucharest University Law School for more than 15 years.

We provide Legal analysis and advice pertaining to the protection of Intellectual Property rights held over software products as per regulated by the Romanian law (Copyright Law, Patent Law, Trade Secret Law).

Our activity includes Drafting and Negotiation of Software and Trademarks Licensing Contracts and Transfer Agreements of Intellectual Property Rights related to software in general. We have also provided such services for the sole representative of Dell Software for Romania, Bulgaria and Adriatic Region.

We advise Clients on data protection compliance: registration as personal data controllers with the Romanian Data Protection Authority, drafting outsourcing agreements involving international data transfers;

Our Team has previously advised companies active in the IT sector on e-commerce regulatory issues and copyright infringement in the online environment.

We also handle the needs of clients operating with Trade Marks registered in the E.U. and we conduct opposition proceedings in front of The Office for Harmonization in the Internal Market (Trade Marks and Designs) and the Romanian State Office for Trademarks and Patents in order to prevent future infringements of trademarks.

Moreover The Team offers legal due diligence services to clients who wish to invest in existing companies or businesses (e.g. acquisition of shares, businesses or assets), properties as well as conducting a company search/company health check. In this regard, we assigns our staff to conduct an onsite searches with registration authorities (Trade Register, Insolvency Register, Tax Authorities, Litigation and other Dispute Resolution authorities, The Official Register for Immovable Property, The Archive for Securities and Movable Guarantees ) in order to provide a formal written report to clients for their investment decision making.

Consequently, the current section will include all news and insights in Corporate Advisory Services of TAMC.

The Corporate Restructuring Group

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The Corporate Restructuring Group at Doru Traila, Adriana Almasan, Alexandru Moise and Eugen Chivu – Attorneys at Law (“TAMC”) provides practical legal advice and innovative solutions to clients involved in distressed company situations.

We offer our support in transforming financial distress periods or economic crisis into opportunities for restructuring and restarting the commercial activity. Our experience in multiple areas of expertise and across economic sectors, having participated in both large scale restructuring procedures and mid-size business rejuvenations, allows us to provide efficient and expedite advice in order to allow our Clients to minimize costs, enhance value and properly position their selves during the procedures.

We have the confidence, preparation and dedication to client services to guide stakeholders through complex bankruptcy reorganizations, representing both Distressed Companies, their Boards and Administration, Shareholders, Investors and The Creditors.

The practice group draws its backgrounds in the Firm’s previous activity in M&A, banking and capital market transactions combined with the Dispute Resolutions’ practice in court conducted insolvency proceedings, business restructurings and liquidations which allows us to find innovative solutions for our clients.

Our lawyers frequently advise on insolvency issues trying to prevent the adverse effects of opening the procedures and when the case, contingency planning and helping companies prevent bankruptcy, either through the application of a Reorganization Plan or through the settlement of claims and receivables, in and out of Court.

Profit Tax for Gambling Activities

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For gambling activities the general, 16% tax for Profit is provided by the the new Fiscal Code, and this tax is to be established on the Profit of the Company. However, the provisions of article 18 of the the new fiscal code sets a special regime for activities specific to night clubs, bars, and casinos. The text specifies that if the profit tax owed for this activities (the 16% general profit tax) is lower than 5% of registered revenues, they will have to pay the 5% of the revenues as profit tax.

Whether online gambling activities will be included in these “Casino specific activities” is currently unclear and subject to many litigation and debates. In the current legislation the 5% is applied to revenues obtained from “sports betting” and has been extended by the fiscal authorities, despite the law stating that is applicable to sports betting only, to all gambling activities. Moreover the interpretation of the notion of revenue is subject to ample debates and litigations.