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Vietnam's New Franchise Law: Momentum for Country Experiencing Strong Consumer Demand Growth
Franchising is a relatively new but rapidly developing strategy in Vietnam. Although there are currently few business franchise systems based on the traditional Western model currently operating in Vietnam, there is an increasing presence of established international franchise systems currently operating through company-owned and-managed outlets and increasing numbers of local systems, albeit at an early 'product distribution' evolutionary stage. The commercial environment for franchising is increasingly favorable: Vietnam is the fastest-growing Asian economy after China and India, and it is experiencing strong GDP growth and annual retail growth of more than 20%. There is a steady rise in disposable income, an emerging new consumer class, and increasing brand consciousness.
However the development of Vietnam's franchising sector has, to date, been hampered by the lack of a specific law on franchising and its regulation under complex, unsuitable, and overlapping regulations on intellectual property and technology transfer, coupled with general contractual obligations. As part of its extensive law modernization process preparatory to World Trade Organization ('WTO') accession expected in 2007, Vietnam has recently introduced a dedicated franchise law that provides a framework for the orderly development of its franchise sector. On June 1, 2005 the National Assembly of Vietnam passed a new Commercial Law that came into effect on Jan. 1, 2006. This law, in '8, addresses franchising in eight general articles which provide the framework for an implementing decree: Decree Making Detailed Provisions for Implementation of the Commercial Law with Respect to Franchising Activities, which was issued on March 31, 2006, and came into effect on July 22, 2006, and which 'makes detailed provisions for the implementation of the Commercial Law with respect to franchising activities in the territory of the Socialist Republic of Vietnam' (Article 1). Pursuant to the Decree, a Circular Providing Guidelines or Procedures for Registration of Franchising Activities was issued on May 25. The Circular includes, in an Appendix, the 'Franchise Description Document,' which prescribes the prior disclosure protocol that is a central feature of the new Vietnamese regulation.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.