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In relation to a receivable, any rights of the client as an unpaid vendor or provider of goods or services.
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Using IP as security: key issues—checklist This Checklist is drafted from the lender’s perspective, and it is designed to highlight the key issues to consider and steps to follow when using IP as security, such as to: • consider the nature of the IP right • consider the type of security • consider ownership, duration, and third-party rights • consider validity and maintenance of the right • value the IP right • consider associated rights and property • register the security at the appropriate registry For further information on taking or perfecting security over IP, see: • Practice Notes: Taking security over intellectual property rights, Taking security over intellectual property—practical points, Perfecting security over intellectual property rights and registering security at an intellectual property registry and Effect of registering security at IP registries on priority of security interests • Precedents: Assignment of intellectual property by way of security, Agreement for assignment of patent by way of security in pursuance of loan agreement: Encyclopaedia of Forms and Precedents (21(1)) [1172], Mortgage...
Brexit checklist—finance documents [Archived] This Checklist outlines some key points to check in relation to facility and security documentation following the end of the Brexit implementation period. ARCHIVED: This Checklist has been archived and is not maintained. At the end of the implementation period, EU law was brought into UK law as retained EU law by operation of the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020, with, in most cases, minor changes only. This is explained in Practice Note: Retained EU law and assimilated law. This Checklist is intended to be read in conjunction with Practice Notes: Brexit—documentary implications for facility agreements [Archived] and Brexit—impact on finance transactions [Archived]. This Checklist focuses on documentary points, and does not cover all potential matters to consider in relation to finance transactions following the end of the implementation period. See Practice Notes: What does IP completion day mean for lending lawyers? [Archived] and Brexit—impact on finance transactions [Archived] for a more comprehensive look...
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The EU Digital Content Directive This Practice Note provides a summary of Directive (EU) 2019/770 (OJ L 136/1) on certain aspects concerning contracts for the supply of digital content and digital services, the EU Digital Content Directive (EU DCD), introduced as part of the European Commission’s Digital Single Market strategy. The EU DCD provides various rights and remedies for consumers in respect of business-to-consumer (B2C) contracts for the supply of digital content or digital services, and is complemented by Directive (EU) 2019/771 (OJ L 136/28) on certain aspects concerning contracts for the sale of goods, the EU Sale of Goods Directive (EU SGD) (introduced alongside the EU DCD). For more information on the EU SGD, see Practice Note: The EU Sale of Goods Directive. The EU DCD entered into force on 11 June 2019. EU Member States were required to adopt and publish the measures necessary to comply with the EU DCD by 1 July 2021 and had to apply those measures from 1 January 2022. The...
Exemptions and reliefs from stamp duty FORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: Following the call for evidence in 2020, the resulting outcome published in 2021 and consideration by the relevant HMRC and industry working group, the government again sought views (through a consultation opened on 27 April 2023 as part of Tax Administration and Maintenance Day and which closed on 22 June 2023) on proposals to modernise the stamp taxes on shares (STS) framework. The proposal is to introduce a single self-assessed stamp tax on securities, with the tax collected by CREST for transactions undertaken there or, for non-CREST transactions, through a new online HMRC portal that will provide a unique transaction reference number (UTRN) when the tax has been paid. Many of the key elements of the proposed single tax would adopt what currently applies for SDRT (for example, when the charge arises, adopting the current SDRT treatment of warrants and call options, making the buyer the liable person...
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Franchise business sale agreement This Agreement is made on [insert date] Parties 1 [insert name] [of OR incorporated in [insert jurisdiction, eg England and Wales] under number [insert company number] whose registered office is at] [insert address] (the Seller); 2 [insert name] [of OR incorporated in [insert jurisdiction, eg England and Wales] under number [insert company number] whose registered office is at] [insert address] (the Buyer); and 3 [insert name] [of OR incorporated in [insert jurisdiction, eg England and Wales] under number [insert company number] whose registered office is at] [insert address] (the Franchisor), (each a party and together the parties). Background (A) The Franchisor has licensed the Seller to operate the Franchise Business. (B) The Seller has agreed to sell and the Buyer has agreed to purchase the Franchise Business as a going concern on the terms and conditions of this Agreement. The parties agree: 1 Definitions and interpretation 1.1 In this Agreement: Applicable Data Protection Law • means...
Share purchase agreement—pro-buyer—corporate seller—conditional—long form This Agreement is made on [insert day and month] 20[insert year] Parties 1 [Insert name of selling corporate entity] incorporated in [England and Wales OR [insert country of incorporation] OR with registered number [insert company number] whose registered office is at [insert address] (the Seller); 2 [Insert name of purchasing corporate entity] incorporated in England and Wales OR [insert country of incorporation] OR with registered number [insert company number] whose registered office is at [insert address] (the Buyer), and 3 [Insert name of guarantor entity] incorporated in England and Wales OR [insert country of incorporation]] with registered number [insert company number] whose registered office is at [insert address] (the Guarantor) [(each of the Seller, the Buyer and the Guarantor being a Party and together the Seller, the Buyer and the Guarantor are the Parties).] Background (A) The Company (as defined below) is a private company limited by shares and is incorporated in [England and...
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Does an agency worker continue to accrue annual leave while they are away from their assignment due to pregnancy or maternity? You have asked: Does an agency worker continue to accrue annual leave while they are away from their assignment due to pregnancy or maternity? This query gives rise to a number of issues: • the agency worker’s entitlement to annual leave, or holiday • whether the agency worker is an employee • the nature of the right under Agency Workers Regulations 2010 (AWR 2010), SI 2010/93, reg 5 • the effect of the agency worker’s absence from work due to pregnancy or maternity on holiday accrual The right to holiday An individual has the right to holiday under Working Time Regulations 1998 (WTR 1998), SI 1998/1833, regs 13, 13A if they are a worker as defined in section 230(3) of the Employment Rights Act 1996 (ERA 1996). In addition, special provision is made in WTR 1998, SI 1998/1833, reg 36, for an agency worker who: •...
How have changes to section 72 of the Copyright Designs and Patents Act 1988 impacted the free public showing or playing of broadcasts and in a particular example: non-commercial broadcasting in communal areas such as in student accommodation? Historically, section 72(1) of the Copyright, Designs and Patents Act 1988 (CDPA 1988) provided an exception to the right of communication to the public. It allowed organisations that did not charge for admission to show television broadcasts (in public) without needing permission from the owners of some of the rights in those broadcasts. In particular, it meant that such organisations did not need permission from owners of film copyright. The historical CDPA 1988, s 72 wording led some commercial premises to attempt to rely on the exception to show exclusive subscription television broadcasts without paying for the required commercial licences. This made it difficult, though not impossible, for copyright owners to take legal action to enforce the use of commercial subscriptions, distorting the market between, for example, pubs which pay...
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EU Law analysis: Barry Scannell and Leo Moore, partners at William Fry, discuss the EU’s draft General-Purpose AI Code of Practice.
Arbitration analysis: The Hanoi People’s Court recently overturned a lower court’s judgment in a lawsuit against an arbitration center, highlighting jurisdictional errors and a misidentification of the dispute’s nature. For lawyers in Vietnam, pinpointing the correct courts for matters involving commercial arbitration is crucial. It is equally important to distinguish between the responsibilities of arbitration centers and arbitrators in legal proceedings. While arbitration centers provide administrative support services, it is the arbitrators who resolve disputes. Arbitration centers are not liable for non-contractual damages unless they fail to perform their administrative duties properly. Arbitrators, on the other hand, are only accountable if they impose unrequested or excessive interim relief measures. This case underscores the importance of understanding these distinctions to navigate the legal landscape effectively. Written by Ha Manh Tu, senior legal counsel at Huawei Technologies (Vietnam) Co, Ltd.
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