Does your business have a global vision? Whether you are looking to form strategic corporate relationships overseas or cultivate an international audience for your products, it is key to stay aware of the relevant trends and changes across the world. With increased connectivity, your competitors are not only local, but also global. Information travels quickly and can be require significant review to parse through and determine what your business truly needs. A qualified international corporate attorney can help you evaluate your business priorities; whether you are based in Gainesville, London, Cleveland, Austin or Zurich, legal counsel can help ensure you are prepared for global competition. Additionally, staying aware of trends can help prepare you for your business’s next steps. Read below for three key trends that every business owner needs to know.
How Brexit May Affect Your Company
Two years have passed since Britain voted to leave the European Union (EU), and it is creating an uncertain atmosphere in the EU as well as around the world. While a majority of the document has been agreed to by both parties, some major sections are still uncertain, which is drastically reducing the amount of investments made in the UK. The British government wishes to keep visa-free travel with other countries of the EU, yet whether this is reciprocated is unclear.
What is it?
On May 25th, 2018, a new law concerning privacy and data protection will come into effect in the European Union. The Guardian calls it the “biggest personal data shake-up since 1995.” The GDPR updates the 1995 European Union Data Protection Directive to apply to the advances in technology that many consumers rely on today. Overall, the legislation requires companies to adopt greater transparency when handling individual data. It also transfers much of the decision-making power from the companies to the consumers.
If you have recently started a business or are in the process of growing it, it is likely that you are looking for additional businesses and organizations in which to work with and from which to purchase goods. With over 300,000 wholesale distributors in the United States, the question arises, “Where are the best places to look for additional business?”
There is a serious confidence that comes from having sound legal counsel for your business legal matters. This piece of mind cannot be replaced.
Three main reasons legal counsel will always outperform online templates are as follows:
Email phishing has become a widespread problem throughout the cyber world. Almost everyone is vulnerable to phishing. Phishing occurs when a fraudulent email appears to originate from a legitimate business. The business is usually a well-known organization that a person regularly conducts business with such as a financial institution, internet provider, or any other similar organizations. There is usually a link in the email that directs you to another website that is a sham. These sites will ask for personal information about you to allegedly verify your identity but in reality they are deceiving you into divulging this information so that they may commit identity theft.
As the accuracy and precision of technology improves, tech companies struggle to answer unavoidable and complex questions. Whether they want to or not, companies face the challenge to find a balance between the privacy rights of individual users and the national security interest of the entire public. This is most clearly demonstrated in the current stand-off between the federal bureau of investigation (FBI) and leading tech company, Apple, due to Apple’s encryption software.
Over the last four years, oil prices had remained constant. However, in the last seven months prices per barrel have dropped considerably. In 2010, a barrel of crude sold at approximately $110 dollars per barrel, whereas in 2014 the price per barrel dropped to below $50 a barrel. This drop can be attributed to several different reasons. The US is increasing production of crude oil, and the slowing economic growth in several countries which has reduced demand, especially China. Currently, US oil production is at the highest levels it has been at in 30 years. In addition, the recently lifted sanctions on Iran have been lifted and it will begin producing oil as well adding to an already flooded supply. These reasons coupled with the fact that Saudi Arabia’s Oil Minister, Ali al-Naimi, has declared that The Organization of the Petroleum Exporting Countries (OPEC) will not be reducing production regardless of how low the price per barrel may fall, has also had an affect. These falling prices will have a major impact on business and the economy in a number of ways.
The story of Cuba and the United States is headed for yet another historic chapter in its history. When President Barack Obama gave his final State of the Union Address on January 12, 2016, he announced his plans to lift the 50-year embargo on Cuba. President Obama has worked to improve relations with Cuba since December 2014. On January 27, 2016, new regulations that expanded the list of exports to Cuba were issued by the Office of Foreign Assets Controls (OFAC) and the Department of Commerce’s Bureau of Industry and Security (BIS). In addition, there were also amendments to how U.S. entities can finance its exports to Cuba, air carrier services, and travel to the island. These are part of the Cuban Assets Control Regulations (CACR) and Export Administration Regulations (EAR).
International Commercial Arbitration is the process used by parties conducting international business to resolve contractual disputes. Some of the frequent reasons that parties often favor arbitration is the general mistrust and uncertainty in laws, lack of fairness in the legal process, lack of independence of judicial systems of other nations, procedural delays, and elevated costs of pursuing legal actions in foreign countries. Accordingly, parties have often favored arbitration to resolve international commercial disputes.