Archive for August 2014

In connection with the effect of Act No. 90/2012 Coll., on business corporations (hereinafter “ABC”), a controversial issue has arisen for joint stock companies with registered capital of less than CZK 2,000,000, as to whether they are required to increase their registered capital to the required level of CZK 2,000,000 in connection with the new legislation.…

The infringement of intellectual property rights is a growing problem affecting not only entrepreneurs in the EU. While 27,000 cases of the suspected infringement of intellectual property rights were detected by customs at border checkpoints in 2005, this number exceeded 90,000 in 2012. The OECD estimates that the world economy loses approximately EUR 200 billion a…

An amendment of the Act on Credit Unions has been approved and introduces several significant changes. Proposed changes to this legislation primarily include: · The establishment of an upper limit for the balance sheet total of the credit union or group of credit unions in the amount of CZK 5 billion The establishment of this…

A bill of exchange is a security that represents a certain claim of its owner against the issuer. A bill of exchange must contain the statutorily defined information precisely, otherwise it is invalid. These requirements are contained in Act No. 191/1950 Coll., on bills of exchange and cheques. According to the act, a bill of…