Due to the nature of the arbitration process, provisional measures - especially interim protection of rights - tend to play a disproportionate role in international commercial arbitrations. Indeed, the need to clearly define such measures often constitutes the major stumbling block on the path to an effective resolution of a commercial dispute. This concise but enormously useful volume offers practitioners the information and advice they need to overcome this obstacle in the best possible way every time. The author covers all the relevant avenues of research and practice, from an overview of the concept of provisional measures to an in-depth analysis of the weight and enforceability of such measures. Along the way the treatment covers such crucial topics and issues as the following: scholarly analysis of the problems and uncertainties surrounding provisional measures, and their solutions in light of arbitral and judicial practice; the complex interaction of historical prejudices, political will, and business needs that impact the usefulness of provisional measures; choice of forum to seek provisional measures and the problems associated with such choice; complementary mechanisms to arbitration for interim protection of rights; standards of principles and procedures for the grant of provisional measures; and a comprehensive review of the arbitrators' power to grant provisional measures and court assistance to arbitration. The presentation examines, compares, and analyses seventy sets of arbitration rules on provisional measures (including the arbitration rules of the ICC, AAA, and LCIA), all of the major state laws on commercial arbitration, and detailed analyses of numerous ICC and AAA awards, most of which have not been published before. This new and fully researched book fulfils and important need for user-friendly and complete practical coverage of provisional measures in international commercial arbitration. It will be of great value to corporate counsel, international lawyers, and business people, as well as to students of dispute resolution.

The twenty-third volume of the "Comparative Law Yearbook of International Business contains chapters relating to agency and distribution, finance and investment, intellectual property, sports law, technology, and general commercial issues. The spread of jurisdictions treated includes Argentina, Canada, the Dominican Republic, Egypt, Italy, Panama, Portugal, Romania, Spain, Switzerland, the United States, and Venezuela. The range of subjects and jurisdictions in volume twenty-three attests to the diversity and scope of international business practice.

INTRODUCTION George Bernard Shaw wrote - 'when a stupid man is doing something he is ashamed 1 of, he always declares that it is his duty. ' Years earlier La Rochefoucauld noted, 'hypocrisy is the homage vice pays to virtue. ' But whether stupid or wise, men are not just hypocritical; they are often honestly unsure where their duty lies. This is one of the main reasons for the creation of rules and exceptions to these rules. This book looks at the law of copyright, exceptions to copyright, which apply to Higher Education Institutions (hereinafter HEIs) and the position of the academic author in relation to the reward or incentive system. As such, the book further considers whether academic authors within HEIs are fairly remunerated for their academic contri- tions by the system of copyright collecting societies; and if not, whether alternative models exist to remunerate the academic author fairly. 2 HEIs include universities and other institutions such as colleges and vocational institutions, which award academic degrees including diplomas. This book will focus solely on the university sector of HEIs in the UK. In exploring the two broad subject areas of HEIs and Copyright Collecting Societies, a large variety of issues can be isolated for specific consideration.

The free movement of capital and payments within the EU and between the EU and third countries is an essential component in establishing the internal market in financial services. This work provides an expert and practical analysis of the Treaty framework governing free movement of capital and payments, covering the definition of capital payments, the prohibition of restrictions on free movement, together with the permitted exceptions, derogations and safeguard measures. It derives from a section in the looseleaf Law of the EU (Vaughan & Robertson, eds), and is made available here for the benefit of those who don't subscribe to the looseleaf. The provisions are considered in the context of other EU Treaty provisions and the international environment. The author also addresses the increasingly complex EU framework for combating money laundering.

Bringing together leading commercial and contract law scholars from the United Kingdom and United States, Comparative Contract Law: British and American Perspectives offers an insightful and comprehensive assessment of the commonalities and divergences in the contract law of these two jurisdictions. Approaching the subject area from a variety of perspectives - doctrinal analysis, behavioural analysis, law and economics, and theoretical - the book examines familiar areas of contract law as practiced in the UK and US. Topics include contract theory and structure; contract formation and defects of consent; policing contracts and the duty of good faith; contract interpretation; damages; speciality contracts; and legal reform. The volume provides a thorough assessment of the current state of commercial contract law in the UK and US, and addresses the strengths and weaknesses of the national and European approaches to many issues of contract law. In particular it focuses on how commercial contract law should be improved, and whether harmonization of the different contract law regimes is a suitable, and appropriate, solution.

This book is the first comprehensive study on the legal aspects of trustmarks: labels or visual representations indicating that a product, process, or service conforms to specific quality characteristics. Trustmark Organisations (TMOs) are independent parties which provide e-merchants with such trustmarks. Security, privacy, and business practice are three areas in which trustmarks play an important role. TMOs will issue a trustmark to e-merchants only if they have demonstrated that they conform to the policy of TMOs regarding security and/or privacy and/or business practice. E-merchants hope that, by displaying the trustmark on their websites, e-consumers will trust their certified practice and be more likely to divulge their personal data and transact with them. Past research has focused on the economic aspects of trustmarks. However, there are no legal studies to be found on the matter. This book aims to fill that gap. It describes the pros and cons of trustmarks for e-economy, e-society and e-policy, assesses TMOs' practice, and focuses on TMOs' liability. The book is valuable reading for academics and practitioners in the IT and ICT field and for all those involved in e-commerce both at a European and global level. Dr Paolo Balboni is currently an Associate at Baker & McKenzie, IT/Communications and Intellectual Property Department, in the Milan office in Italy. He is also a Research Associate at Tilburg University, both at the Tilburg Institute for Law Technology, and Society TILT and at the Tilburg Institute for Interdisciplinary Studies and Conflict Resolution Systems TISCO. This is Volume 17 in the Information Technology and Law (IT&Law) Series

There have been an increasing need for greater integration of many Asian economies, either within the confines of ASEAN or on a more geo-economically strategic scale including major Asian jurisdictions like China, Japan, and Korea. A number of key personalities within the regional legal fraternity have advanced views that such integration ought to occur through the harmonization of legal rules, arguing that in doing so, uncertainty and other transaction costs would be reduced and commercial confidence within the region concomitantly increased. This edited volume brings together eminent and promising scholars and practitioners to investigate what convergence and divergence means in their respective fields and for Asia. Interwoven in the details of each tale of convergence is whether and how convergence ought to take place, and in so choosing, what are the attendant consequences for that choice.

Written from the perspective of a practising company lawyer, this work is principally concerned with two broad duties owed by directors of British and Australian companies: to act honestly, in good faith and for proper purposes; and to exercise care and diligence. Public attitudes towards directors have altered since the mid-1980s, and the business community has raised its expectations of directors. In response to this shift in public feeling, parliament and the judiciary are adopting a new approach to directors' duties, widening the scope of duties imposed on directors and encouraging a more rigorous approach to corporate governance. This text analyzes this new approach, with reference to English and Australian case-law, and explores the courts' attempts to deal with the myriad of competing interests found within the morass of legal rules, equitable principles and statutory enactment which comprise modern company law. In examining modern case-law and legislation, the author addresses some of the more contentious and controversial issues which directors in the 21st century will need to confront in order to properly discharge the legal, equitable and statutory requirements of their office. The subject of directors' duties is of theoretical and practical importance, from economic, political as well as social perspectives. This text should be of use to all lawyers, policymakers, academics and researchers working in this complex and rapidly changing field of the law.

Perspectives on the Law of Partnership in South Africa examines the most problematic issues in the law of partnership. It investigates specific issues in the area of partnership law, painting a broader picture of all the other relevant areas involved. In following a `perspectives' approach - presenting a historical and a comparative perspective - the book offers a detailed consideration of complex areas of partnership law while at the same time exploring the law in general. Topics discussed range from the history and development of partnership law to perennial classical favourites such as the leonine partnership, the triple contract and universal partnership proper, all three of which contributed to the delineation of the partnership concept. Aspects of the law in general that are discussed in detail include: Legal status and its attendant entity and aggregate theories, representation and mutual mandate, partnerships en commandite, anonymous, limited and limited liability partnerships, the removal of the limit on the number of partners, partnership sequestration, the dual priorities rule. Perspectives on the Law of Partnership in South Africa is offered as a scholarly book for the subject specialist with the expectation that it will also invigorate interest in and advance research on the law of partnership.

This is the second volume to appear in the "AIJA Law Library" series. It has been prepared by members of the AIJA Standing Commission on International Arbitration under the editorship of Peter Eijsvoogel. It is intended to be a reference work for practitioners in the field of international arbitration, both counsellors and arbitrators. The book features 20 national reports from major jurisdictions. These outline the general character of the legal system in respect of ADR procedures, sources of procedural rules for arbitration, law and practice on documentary evidence and submissions, testimonial evidence and the involvement of experts. In addition, the text contains a detailed analysis of the legal rules pertaining to the taking of evidence in both civil and common law systems, and highly practical contributions relating to deposition skills.

This book is the first comprehensive account of contractual estoppel. Contractual estoppel is a new and exciting development in the common law, widely employed and of considerable practical utility. The concept has been noticed by academics, mostly to be criticised as anomaly, misnomer and an objectionable policy choice, and commentary on the concept has been limited to recitation and critique of a few principal cases. Yet this book examines numerous judicial decisions which apply or discuss contractual estoppel, and offers a full and systematic exploration of its origin, principled basis, practical applications and limits. In this new title, the author, Alexander Trukhtanov, responds to policy objections and seeks to answer the charge that contractual estoppel is a misnomer, anomaly or distortion of reliance-based categories of estoppel, by showing that contractual estoppel is its own category of legal estoppel. The book is a single point of reference for a systematic and organised exposition of the subject and an explanation of how it fits into existing law. It is practice-oriented but engages with important conceptual points. Contractual Estoppel will be of interest to practitioners, whether draftsmen, litigators or advocates, as well as academics and post-graduate students of contract law.

This Yearbook reviews significant legal developments in international commerce and offers an important forum for legal practitioners to address and compare practical legal issues of direct interest to their areas of specialisation. Each volume of the Yearbook features a comprehensive range of articles written for and by leading practitioners and advisers working in the international business sector. Volume 16 addresses key issues in general commercial law, company law, environmental law, foreign investment and litigation, procedure and dispute resolution. The Yearbook is published under the auspices of the Center for International Legal Studies.

Within an environment made difficult by the continuing economic crisis, the Italian model for crisis management and resolution has helped to avoid many difficulties faced by intermediaries across the globe. However, the Italian model for crisis management will be forced to adapt to the new EU Bank Recovery and Resolution Directive, which introduces a unified regime for such events in all EU countries. This book explores the various methods for crisis management employed in Italian finance. The authors discuss procedures used in the banking and insurance sectors, such as deposit guarantee schemes and alternative dispute resolution systems. They also explore the evolution of the administrative sanctioning systems, and the roles of tax rules and credit rating agencies in Italian finance. This book analyses the evolution of the various crisis management processes, and discusses potential goals and improvements within the context of recent measures suggested by the European Commission.

This book examines the history of the first trust company, the Farmers' Loan and Trust, and its influence on the evolution of corporate law, regulation, and taxation.

This book contains a series of studies of the regulation under English law of the range of business organisational structures available to entrepreneurs. It analyses the commonest of these structures,including limited companies (public and private), groups of companies, privatised enterprises, and partnerships, as well as the more specialised forms such as industrial and provident societies, banks, building societies, insurance companies, joint ventures, franchise agreements, limited partnerships and overseas companies. Set within the context of a period of considerable actual and proposed legal change, the contributions (from recognised authorities in their respective fields) analyse the broad regulatory structure adopted for each of the above business forms, outline the changing patterns of regulation and consider likely future developments. Several broad themes run through the work, including the relationship between the economic desirability of facilitating enterprise and the need to regulate against possible abuse; stakeholder protection; pursuit of risk management strategies and the implications of European harmonisation in the business sector.

Regulating subsidies in international trade is crucial to the efficient and equitable allocation of resources and ultimately to global welfare. Much of the serious instability that persists in today's interdependent world may be traced to government interventions that dilute or defy such regulation. In this in-depth analysis of subsidies and State aids, Gustavo Luengo details the regulatory elements that reveal how governments undertake the granting of support to their national industries. Although in theory such support is aimed at two overriding economic objectives - the elimination of harmful distortions, and the correction of market failures - he shows that in practice it is political contexts that determine the principles and objectives of the regulation of subsidies. The analysis focuses on two mature regulatory systems, those of the World Trade Organization (WTO) and the European Communities (EC). The author describes both legal frameworks, and then proceeds to examine the differences and conflicts between the two systems, along with their reasons, consequences, and possible solutions. Significant aspects of the regulation of subsidies that emerge from the analysis include the following: the role of 'countervailing measures'; the EC notion of 'State aid' as developed by the European Commission and the European Court of Justice; procedures for controlling subsidies under both systems and the consequences of granting subsidies in violation of applicable rules; the elements of 'financial contribution' and 'benefit' under the Agreement on Subsidies and Countervailing Measures (ASCM); actionable and non-actionable subsidies; agricultural subsidies in both systems; and, the role of WTO dispute settlement procedures. Both for its clear and comprehensive overview of the regulation of subsidies and State aids and for its insightful recommendations, this book will be welcomed as a major contribution to the field of international economic law. Practitioners, policymakers, officials, and academics will all find it enormously valuable for its analytic depth and its direct applicability to the need to develop fair and enforceable regulation of subsidies and State aids.

This book is both a repertory guide to the Convention on International Civil Aviation (Chicago Convention) as well as a legal analysis of the provisions of the treaty. It traces action taken by the ICAO Assembly and the Council in the implementation of the Convention from the first ICAO Assembly in 1947 until 2012. Above all, the book offers a commentary on the functional and moral fabric of the Chicago Convention, which is not only a multilateral legal instrument that sets out basic principles of air navigation and air transport, but also serves as a moral compass that brings the people of the world together.

The teleological nature of the Chicago Convention is reflected from the outset from its Preamble which sets the tone and philosophy of the Convention that aviation builds friendship and understanding among all people, to its technical provisions that range from rules of the air to landing at airports and customs and immigration procedures. The book effectively demonstrates the Aristotelian principle that rules make people good by forming habits in them. Standardization, or in other words, compliance, is the driver of the Convention that keeps aviation safe, regular, efficient and economical. To that end, this book traces and details the sustained relevance of the Chicago Convention and the efforts of ICAO and the international aviation community towards keeping air transport on track and ready for its future exponential growth, both in letter and in spirit. "

Italian banks and financial intermediaries are subject to extensive regulation which has evolved throughout the country's history. There has also been much change to the country's financial regulation in recent years in response to the globalization of markets and intermediaries. The Italian administrative and regulatory system is often perceived as a major obstacle to economic productivity, and some causes of this ineffectiveness are deeply rooted and date back to the Italian unification and juridical culture. This book provides an overview of the Italian regulation of banking and financial activities, and tracks the evolution of its 'economic Constitution' and market trends. It explores a range of topics within Italian regulation, including the regulation of banking activities, investment services and collective portfolio management. It examines in detail the relationship between intermediaries and customers, public offerings of financial instruments and products, public takeover bids, listed companies, insurance and reinsurance business. Among other current topics the authors discuss the link between investor protection and confidence in the financial markets; and assess the financial markets as a source of financing for companies.

The enhancement of e-commerce nowadays is one of the important policy issues in the European Union. To this purpose the laws of the EU Member States should be further harmonised. The European Union has adopted a number of Directives relating to different aspects of e-commerce which should be implemented in the laws of the Member States. eDirectives: Guide to European Union Law on E-commerce provides article-by-article comments on four Directives central to the regulation of electronic commerce in the European Union (EU), viz. 97/7/EC on distance selling; 1999/93/EC on electronic signatures; 2000/31/EC on electronic commerce; and, 2001/29/EC on copyright in the information society. In addition, a separate chapter deals with e-commerce and privacy protection, while the opening chapter discusses all other EU initiatives relevant for the regulation of e-commerce. This volume is meant as comprehensive legal source of e-commerce legislation for both academics (LLM-students and academic staff) and practitioners (attorneys, company lawyers, consultants). It is not only of interest for readers in the EU-Member States (because their national law is or is about to be adapted to the EU Directives), but also for readers in aspirant Member States of the EU, as well as for readers in other countries where e-commerce has emerged, like the Unites States of America.

In this volume 21 experts from all over the world examine the UNIDROIT Principles from the perspective of their respective countries, focusing, among others, on the similarities and differences between the UNIDROIT Principles and domestic law, and the use of the UNIDROIT Principles in actual practice (contract negotiation, arbitration proceedings, model for law reform projects, etc.). These national reports are critically analysed in the General Report by Professor M.J. Bonell, Chairman of the Working Group for the preparation of the UNIDROIT Principles.

This "Liber Amicorum" is written in honour of Richard M. Buxbaum to celebrate his 70th birthday. It pays tribute to his writings, teachings, editorial and administrative work, which have contributed immensely to the development of the international legal order. The contributions are from international experts in the field of commercial and economic law, corporate law, intellectual property and business law, and give an interesting and valuable account of current economic trends and academic thinking.

This innovative and original book explores the relationship between blockchain and antitrust, highlighting the mutual benefits that stem from cooperation between the two and providing a unique perspective on how law and technology could cooperate. Delivering a legal, economic, and technical analysis of antitrust and blockchain, Thibault Schrepel provides a well-rounded examination of their mutual flaws and the limitations that occur when they ignore each other. He explores the anticompetitive practices that may arise in the field as well as covering enforcement issues before showcasing the potential of blockchain and antitrust to complement one another. He offers different ways of creating effective regulations and enforcement mechanisms for the purpose of benefiting their common interests. Covering key topics such as decentralization, blockchain evolution, and the objectives of competition law, this book will be of particular interest to academics and students researching at the intersection of law and technology. It will also be useful for legal practitioners interested in blockchain, as well as antitrust agencies and policy-makers.

This book presents a hotly debated issue concerning the ownership of trust property in China. The book describes various conventional interpretations of Chinese Trust Law submitted by legal scholars and compares diverse approaches regarding the ownership of trust property provided by jurisdictions globally. The book does not directly answer the question "Who is the owner of trust property in China?" Instead, using a social capital perspective, it develops a more practical perspective to explain why Chinese trust business has grown rapidly even in lack of legal certainty regarding the location of ownership of trust property. The book also further predicts under what conditions is the time ripe to clarify the location of the ownership of trust property in China. By employing those sociological concepts often used to depict and analyze society, this book outlines the structure of the Chinese trust business and related social relations in different stages, i.e., the current rapid development stage, and the possible transitional stage in the near future. The focus is on how the social network structure affects the behavior of actors (such as the settlor, the trustee, and the beneficiaries, and/or their potential candidates) within the relevant section of Chinese society. The book provides readers with an intensive analysis of the impacts of historical, cultural, and social elements on the legislation and development of trust law in China. It will appeal both to lawyers interested in the Chinese trust business and to comparative law researchers and social scientists.

This book investigates the tensions between EU law and international commercial arbitration, i.e. tensions between two phenomena at opposite ends of the public to private ordering continuum. It focuses on the Commercial Agents Directive's regime for indemnity and compensation as one of the most frequent source of these tensions. To mitigate the consequential problems, the book proposes and describes a comprehensive framework for a preferable system of reviewing arbitration agreements and arbitral awards. To this end, it explores the prerequisites of this system through comparative legal analysis of the German, Belgian, French and English systems of review, an assessment of the observable aspects of arbitral practice, game theoretical analysis of the arbitral process, and microeconomic analysis of the cross-border market for commercial agency.

This book provides a unique comparative and global analysis of the regulation of disclosure in financial (securities) markets. It is written by two authors who represent both the new world (Australia) and the old world (Germany). The authors present their research in the global business context, with legal and regulatory perspectives including some references from Africa, Asia, the Middle East and South America. After every "boom" and "bust", legislators pass new disclosure legislation, often in a heated environment fuelled by politics and the media. Little regard is paid to existing regulation or the lessons learned from earlier regulation. The result is the continuing enactment of redundant and overlapping disclosure laws. Since financial markets are often described as markets for information, the failure to ensure disclosure is at the heart of financial services regulation. This book argues that the solution to the failure of disclosure is a brief, easily understood, principles-based, plain English safety-net amendment to statute law such as "you must keep the financial market fully informed", a measure that would support effective mandatory continuous disclosure of information to financial markets. This book examines the reasons for disclosure regulation, and how the efficient operation of financial markets is dependent on disclosure. It examines the adequacy of common law and civil law concerning broker/client disclosure, and concludes that industry licensing in itself fails to keep the market informed. While recognizing the failures of securities commissions to achieve good disclosure in financial markets, it confirms the effectiveness of coregulation of disclosure by a commission with the support of the financial markets (such as the stock exchange). Coregulation builds on financial market self-regulation, and is best described in the words of one-time SEC Chairman William O. Douglas, who, in the 1930s, described it as a shotgun behind the door.