China's New M&A Regulation and Its Impacts on Foreign Business
October 03, 2006
On Aug. 8, 2006, China released a new rule of 'Provisions on Acquisition of Domestic Enterprises By Foreign Investors' (New Regulation). The New Regulation took effect on Sept. 8, 2006, and invalidated the 'Interim Provisions on Acquisition of Domestic Enterprises By Foreign Investors' (Old Regulation) issued on March 7, 2003. The New Regulation has drawn speculations that China is changing its policy toward foreign investors' acquisitions of its domestic companies and tightening its restrictions on foreign investments. <br>This article presents the background that gave rise to this new regulatory scheme and provides a comparative analysis of the two regulations, with a particular focus on how foreign companies doing business in China will be impacted.
Mapping Law Firm Capabilities
September 29, 2006
Not so many years ago, running a law firm was a simpler process. If you were good at legal research, drafting documents, arguing cases and attracting and advising clients, the business took care of itself. But today, managing a legal practice, particularly for large firms, is more like running a large, sophisticated, multinational business.
Managing Electronic Evidence
September 28, 2006
Discovery demands on in-house legal staff have changed drastically in recent years. Historically, complying with subpoenas and document production requests were quotidian chores for in-house legal staff. After receiving a complaint, counsel's office issued a standard 'document hold' to affected employees and directed that those involved in the case preserve their files and not destroy anything. Questions might arise, but they were manageable. What must be disclosed? What documents are privileged? How long will it take to retrieve documents from storage? How many staff hours will complying require? How much will it cost? Who bears the cost? Which discovery requests should be challenged?
Law Firms At the Top of GC Speed-Dial Lists
September 28, 2006
For the past 5 years, Corporate Counsel has conducted a survey of Fortune 250 general counsel, asking them to list their 'primary' outside counsel. This year, 93 companies provided information on their top law firms for corporate transactions, litigation, labor and employment, and intellectual property. Those companies named a total of 380 law firms.
The DC Circuit Court's <i>Murphy</i> Ruling
September 28, 2006
A&FP has for several years followed the problematic interaction of: Laws and regulations relating to the federal taxability as income of compensatory damages in 'nonphysical' personal injury cases; The classification of contingent at-torney fees in those cases as income for the client (as well as for the attorney); The operation of federal fee-shifting statutes; and The alternative minimum tax (AMT). '
Eight Ways to Bill For Litigation Support
September 28, 2006
Litigation support is an increasingly necessary service that helps attorneys and staff do all that they need to do with client data. Many billing options exist, but before we explore them, it might be helpful to identify the various things that commonly fall under the litigation support umbrella.
Closed vs. Open Compensation Systems
September 28, 2006
Our September edition included a report by legal journalist Leigh Jones on the appeal of 'closed' compensation decision-making systems that forego transparency in the interests of peace and efficiency. In the following roundtable discussion, seven present and former members of our Board of Editors comment on half a dozen aspects of this subject.
Protecting Trust Assets from a Divorcing Spouse
September 27, 2006
When spouses divorce, they may be surprised to discover that certain trust assets may not be protected from each others' reach. It is often difficult to find a bullet-proof trust, holding assets firmly and securely away from the divorcing spouse.
Option Backdating
September 27, 2006
This is not an easy time to be in the general counsel's office of a public company. The investigations into stock options backdating tend to reach into various parts of the organization, often simultaneously. Some practical rules of the road are in order, to allow the general counsel's office to spot and address the relevant issues in an appropriate, cost-effective manner.
