Research on executive compensation has exploded in recent years, and this volume of specially commissioned essays brings the reader up-to-date on all of the latest developments in the field. Leading corporate governance scholars from a range of countries set out their views on four main areas of executive compensation: the history and theory of executive compensation, the structure of executive pay, corporate governance and executive compensation, and international perspectives on executive pay. The authors analyze the two dominant theoretical approaches - managerial power theory and optimal contracting theory - and examine their impact on executive pay levels and the practices of concentrated and dispersed share ownership in corporations. The effectiveness of government regulation of executive pay and international executive pay practices in Australia, the US, Europe, China, India and Japan are also discussed. A timely study of a controversial topic, this Handbook will be an essential resource for students, scholars and practitioners of law, finance, business, and accounting. Contributors: C. Amatucci, R. Bender, S. Bhagat, W. Bratton, S. Chahine, R. Chakrabarti, M.J. Conyon, G. Ferrarini, M. Firth, M. Goergen, B. Haar, L. He, M.T. Henderson, J.G. Hill, K. Kubo, T.Y. Leung, G. Loutzenhiser, M. Lubrano di Scorpaniello, J.A. McCahery, N. Moloney, K.J. Murphy, L. Oxelheim, L. Renneboog, R. Romano, O.M. Rui, Z. Sautner, K. Sheehan, K. Subramanian, R.S. Thomas, S. Thompson, G. Trojanowski, H. Wells, C. Wihlborg, J. Winter, P.K. Yadav, Y. Yadav, J. Zhang

The EU antitrust enforcement system for several decades has been one of the most mature antitrust enforcement systems in the world. The European Commission has been recognised as a leading antitrust agency internationally, and a role model for enforcers. This would not have been possible without effective procedural rules. This volume provides a comprehensive and practically-oriented account of EU antirust procure. After setting out the institutional design and legal framework of the EU antitrust enforcement system, it explores the EU Commission's investigative powers, the possible outcomes of its investigations, the types of decisions it adopts and the remedies and fines it imposes. This volume looks closely at the rights of defences enjoyed by the investigated parties, and how the EU Commission strike a balance between their full observance on the one hand and the effectiveness of its enforcement on the other. Particular attention is given to the judicial review of the EU Commission's acts and the role of the EU Courts in providing judicial protection and ensuring compliance with fundamental rights and principles. Recognising cooperation as a key feature of the EU antitrust enforcement system, the volume explores the mechanisms for cooperation between national antitrust enforcers and the EU Commission, between national courts and the EU Court of Justice as well as the mechanisms for international cooperation. It also provides an in-depth review of the ECN+ Directive and explains how it contributes to making national competition authorities more effective enforcers. Written primarily with enforcers and practitioners in mind, it is essential reading for anyone with an interest in EU antitrust procedure.

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.

Secured transactions law has been subjected to a close scrutiny over the last two decades. One of the main reasons for this is the importance of availability of credit and the consequent need to reform collateral laws in order to improve access to finance. The ability to give security effectively influences not only the cost of credit but also, in some cases, whether credit will be available at all. This requires rules that are transparent and readily accessible to non-lawyers as well as rules that recognise the needs of small and medium-sized enterprises. This book critically engages with the challenges posed by inefficient secured credit laws. It offers a comparative analysis of the reasons and the needs for a secured transactions law reform, as well as discussion of the steps taken in many common law, civil law and mixed law jurisdictions. The book, written under the auspices of the Secured Transactions Law Reform Project, informs the debate about reform and advances novel arguments written by world renowned experts that will build upon the existing literature, and as such will be of interest to academics, legal practitioners and the judiciary involved in secured transactions law around the world. The text considers reform initiatives that have taken place up to the end of April 2016. It has not been possible to incorporate events since then into the discussion. However, notable developments include the banks decree passed by the Italian Government on 29th June 2016, and the adoption of the Model Law on Secured Transactions by UNCITRAL on 1st July 2016.

The information society is a key issue in everyday life and a phenomenon enc- passing social, cultural, economic, and legal facettes. Currently, an information society's legal framework is gradually crystallizing under the newly introduced term of "Internet governance". During the last few years, intensive discussions about the contents of Internet governance have addressed manifold aspects of a possible regulatory regime. In light of the general comprehension that an international treaty structure is mi- ing and that self-regulation as a normative model does not sufce in all respects, new architectural and constitutional theories have been developed; furthermore, the international body of the Internet Governance Forum (IGF) came to life. N- withstanding the available literature on IGF, however, a thorough and systematic study sheding light on the main topics of Internet governance (such as legitimacy, transparency, accountability, and participation) and on the key regulatory issues (for example critical Internet resources, access, protection of civil liberties/- man rights, realization of security, safety and privacy standards, as well as the overcoming of the digital divide) from a legal perspective is not yet at hand. The present publication aims at discussing these legal challenges. This book has benefted from many inputs and encouragements from colleagues that I am deeply grateful for. In particular, I am indebted to the very meaningful discussions and valuable support in the preparation of the publication by my - search assistants lic. iur Mirin . a Grosz and lic. iurR . omana Weber, to lic. iur.

This book, first entitled Principles of Law Relating to Overseas Trade, has been expanded, revised, repackaged and re-titled in this edition to provide a more accessible and relevant textbook on the subject. Commentary and references to new and classic cases are now in footnotes in the main text, for ease of reading. Imbued with careful research and practical experience it presents an attempt to form a concise and authoritative statement of the law affecting international trade.

"Wenn man eine Erkenntnis als Wissenschaft d- stellen will, so muss man zuvor das Untersch- dende, was sie mit keiner andern gemein hat, und was ihr also eigentumlich ist, genau bestimmen konnen; widrigenfalls die Grenzen aller Wiss- schaften in einander laufen, und keine derselben, ihrer Natur nach, grundlich abgehandelt werden 1 kann. " 1. 1 What Does Corporate Finance Law Mean? The law of corporate finance has been defined in a modern and more holistic way in this three-volume book. In this book, corporate finance law is studied from the perspective of the firm. Like modern commercial law in general, the law of cor- rate finance helps the firm to reach its legal objectives (management of cash flow and the exchange of goods, management of risk, management of agency relati- ships, and management of information). When trying to reach its legal objectives, the firm typically applies generic legal tools and practices (incorporation and choice of business form, contracts, regulation of internal processes through c- pliance and otherwise, typical ways to manage agency relationships, and typical ways to manage information problems) and takes into account legal rules that - long to different traditional fields of law (contract law, company law, banking law, 2 tax law, competition law, and so forth). In corporate finance law, these legal tools 1 Immanuel Kant, Prolegomena (1783), 1.

Aviation is an important global business and a signi?cant driver of the global economy. Itisvital,therefore,thatstringentmeasuresaretakentocounteractsof unlawfulinterferencewithcivilaviation. TheConventiononInternationalCivil AviationsignedatChicagoon7December1944,statesinitsPreamblethatwhereas thedevelopmentofcivilaviationmayhelppreservefriendshipandunderstanding amongthepeopleoftheworld,yet,itsabusecouldbecomeathreattogeneral security. Thegenealogyoftheterm"Terrorism"liesinLatinterminologymeaning"to causetotremble"(terrere). Sincethecatastrophiceventsof11September2001, we have seen stringent legal measures taken by the United States to attack terrorism,notjustcurbit. Thefamousphrase"waronterror"denotespre-emptive andpreventivestrikescarriedoutthroughapplicableprovisionsoflegitimately adoptedprovisionsoflegislation. TheearliestexampleistheAirTransportation Safety and System Stabilization Act (ATSAA)enactedbyPresidentBushless thantwomonthsafterthe9/11attacks. Then,twomonthsaftertheattacks,in November2001,CongresspassedtheAviationandTransportationSecurityAct (ATSA)withaviewtoimprovingsecurityandclosingthesecurityloopholes whichexistedonthatfatefuldayinSeptember2001. Thelegislationpavedthe wayforahugefederalbodycalledtheTransportationSecurityAdministration (TSA) which was established within the Department of Transportation. The HomelandSecurityActof2002whichfollowedeffectedasigni?cantreorga- zationoftheFederalGovernment. Allthisgoestoshowthatthelawplaysasigni?cantroleinensuringaviation security. Thisbookaddressesnewandemergingthreatstocivilaviation;evaluates securitytoolsnowinusesuchasthePublicKeyDirectory,AdvancePassenger Information,PassengerNameRecordandMachineReadabletraveldocumentsin the context of their legal and regulatory background; and discusses applicable securitytreatieswhileprovidinganinsightintotheprocessofthesecurityaudits conductedbytheInternationalCivilAviationOrganization(ICAO). v vi Preface ThebookalsoexaminesissuesoflegalresponsibilityofStatesandindividuals forterroristactsofthirdpartiesagainstcivilaviationanddiscussesfromalegal perspectivethelatestliabilityConventionsadoptedatICAO. TheConclusionof thebookprovidesaninsightintotheapplicationoflegalprinciplesthroughrisk management. Sincethewritingofthisbook,theauthor publishedthreefeature articles entitled, The NW Flight 253 and the Global Framework of Aviation Security(AirandSpaceLaw,Volume35Issue2April2010167-Aviation is an important global business and a signi?cant driver of the global economy. Itisvital,therefore,thatstringentmeasuresaretakentocounteractsof unlawfulinterferencewithcivilaviation. TheConventiononInternationalCivil AviationsignedatChicagoon7December1944,statesinitsPreamblethatwhereas thedevelopmentofcivilaviationmayhelppreservefriendshipandunderstanding amongthepeopleoftheworld,yet,itsabusecouldbecomeathreattogeneral security. Thegenealogyoftheterm"Terrorism"liesinLatinterminologymeaning"to causetotremble"(terrere). Sincethecatastrophiceventsof11September2001, we have seen stringent legal measures taken by the United States to attack terrorism,notjustcurbit. Thefamousphrase"waronterror"denotespre-emptive andpreventivestrikescarriedoutthroughapplicableprovisionsoflegitimately adoptedprovisionsoflegislation. TheearliestexampleistheAirTransportation Safety and System Stabilization Act (ATSAA)enactedbyPresidentBushless thantwomonthsafterthe9/11attacks. Then,twomonthsaftertheattacks,in November2001,CongresspassedtheAviationandTransportationSecurityAct (ATSA)withaviewtoimprovingsecurityandclosingthesecurityloopholes whichexistedonthatfatefuldayinSeptember2001. Thelegislationpavedthe wayforahugefederalbodycalledtheTransportationSecurityAdministration (TSA) which was established within the Department of Transportation. The HomelandSecurityActof2002whichfollowedeffectedasigni?cantreorga- zationoftheFederalGovernment. Allthisgoestoshowthatthelawplaysasigni?cantroleinensuringaviation security. Thisbookaddressesnewandemergingthreatstocivilaviation;evaluates securitytoolsnowinusesuchasthePublicKeyDirectory,AdvancePassenger Information,PassengerNameRecordandMachineReadabletraveldocumentsin the context of their legal and regulatory background; and discusses applicable securitytreatieswhileprovidinganinsightintotheprocessofthesecurityaudits conductedbytheInternationalCivilAviationOrganization(ICAO). v vi Preface ThebookalsoexaminesissuesoflegalresponsibilityofStatesandindividuals forterroristactsofthirdpartiesagainstcivilaviationanddiscussesfromalegal perspectivethelatestliabilityConventionsadoptedatICAO. TheConclusionof thebookprovidesaninsightintotheapplicationoflegalprinciplesthroughrisk management. Sincethewritingofthisbook,theauthor publishedthreefeature articles entitled, The NW Flight 253 and the Global Framework of Aviation Security(AirandSpaceLaw,Volume35Issue2April2010167-182);TheUse of Full Body Scanners and Their Legal Implications; and The Use of Forged PassportsforActsofCriminality(bothofwhichcouldbeaccessedthroughthe webpageoftheJournalofTransportationSecurity(Springer). Thesethreearticles formausefuladjuncttothisbook. Montreal,CA RuwantissaAbeyratne Contents 1 ASecurityCulture ...1 A. ARisk-BasedApproach ...1 B. TheICAOResponse ...2 I. TheICAOHigh-LevelMinisterialConference ...2 II. PostConferenceWork ...7 C. EmergingThreats ...9 I. Probability ...9 II. ReactingtoProbability ...10 III. Deterrence ...13 IV. ProblemsofDeterrence ...14 V. ThreatAssessmentinICAO ...16 VI. TheAVSECPanel ...19 VII. Bioterrorism ...21 VIII. Cyber-Terrorism ...24 IX. MANPADS ...25 X. TheDiverseNatureofMissileAttacks ...29 XI. InstallationofanAnti-missileSystem ...32 XII. ThePerimeterGuard ...32 XIII. InternationalAccord ...33 XIV. OtherCurrentThreats ...36 References ...3 6 2 PrinciplesofResponsibility ...39 A. StateResponsibility ...39 I. PrinciplesofStateResponsibility ...42 II. TheTheoryofComplicity ...42 III. MechanismsforExtraditionofOffenders: TheLockerbieCase ...43 IV. TheCondonationTheory ...48 V. TheRoleofKnowledge ...51 vii viii Contents VI. Pro?lingofPassengers ...54 VII. AirportPro?ling ...55 VIII. Pro?lingandtheRightofPrivacy ...58 B. OtherAspectsofResponsibility ...61 I. PreludetotheRomeConventionof1952 ...61 II. TheRomeConventionof1952 ...66 C. TheRomeConventionof1952 ...70 I. Background ...70 II. Insurance ...71 III. ProvisionsoftheConvention ...

1.1 Cash Flow, Risk, Agency, Information, Investments The first volume dealt with the management of: cash flow (and the exchange of goods and services); risk; agency relationships; and information. The firm m- ages these aspects by legal tools and practices in the context of all commercial transactions. The second volume discussed investments. As voluntary contracts belong to the most important legal tools available to the firm, the second volume provided an - troduction to the general legal aspects of generic investment contracts and p- ment obligations. This volume discusses funding transactions, exit, and a particular category of decisions raising existential questions (business acquisitions). Transactions which can be regarded as funding transactions from the perspective of a firm raising the funding can be regarded as investment transactions from the perspective of an - vestor that provides the funding. Although the perspective chosen in this volume is that of a firm raising funding, this volume will simultaneously provide infor- tion about the legal aspects of many investment transactions. 1.2 Funding, Exit, Acquisitions Funding transactions are obviously an important way to manage cash flow. All - vestments will have to be funded in some way or another. The firm's funding mix will also influence risk in many ways. Funding. The most important way to raise funding is through retained profits and by using existing assets more efficiently. The firm can also borrow money from a bank, or issue debt, equity, or mezzanine securities to a small group of - vestors.

This book presents a clear and precise overview of the key aspects of German business law. It was written by attorneys involved in the daily practice of bu- ness law in Germany and is aimed at people who wish to orient themselves quickly with the German legal system and the manner in which it impacts bu- ness purchases, establishment, operations and liquidations. The first section of the book is devoted to an explanation of the major issues to be considered in acquiring or establishing a business in Germany. The second section focuses on areas of commercial law that are important for an operating business. In comparison to the last edition four new areas (transportation law, customs regulations, insurance law and state liability law) are treated. The f- lowing sections deal with labor law as an independent part of German business law and with computer law. Furthermore, procedural law and European law are addressed. Finally, the last two sections of the book are devoted to an overview over the German tax law, which has an enormous impact on business decisions, and IP law. In all sections special attention has been paid to highlighting and explaining the differences between the German legal system and that of the United States. Nevertheless, the intention is to provide information that will prove valuable to all foreigners, particularly business men and women and lawyers advising clients with an interest in doing business in Germany.

New rules on distance contracts provided for the Consumer Rights Directive of 25 October 2011 do not apply to package holidays or contracts falling within the scope of the Timeshare Directive. Moreover, contracts for passenger transport services and contracts for the provision of accommodation, car rental, catering or leisure services if the contract provides for a specific date or period of performance are not covered by some of these rules. Yet measures aimed at protecting the consumer when a contract is concluded via the phone, the Internet, by mail or other means of distance communication play a role in tourism. This book helps readers to navigate through uncertainties in travel contracts regarding information requirements, the right of withdrawal or providing alternative services. Findings reveal that consumer acquis is inadequately adapted to the features of the tourism industry when an optional instrument based on the Draft Common Frame of Reference might be used in the future.

The aviation community, in which the International Civil Aviation Organization (ICAO), the International Air Transport Association (IATA) and the Civil Air Navigation Services Organization (CANSO) play leading roles, is hard at work in bringing aviation into the 21st Century. In doing so, the United States and Europe have taken proactive steps forward in introducing modernization, particularly in moving towards more efficient air traffic management systems within NextGen and SESAR. Elsewhere, in the fields of personnel licensing, rules of the air, accident investigation and aeronautical charts and information, significant strides are being made in moving from mere regulation to implementation and assistance calculated to make all ICAO member States self sufficient in international civil aviation. However, these objectives can be achieved only if the aviation industry has a sustained understanding of the legal and regulatory principles applying to the various areas of air navigation. This book provides that discussion. Some of the subjects discussed in this book are: sovereignty in airspace; flight information and air defence identification zones; rules of the air; personnel licensing; meteorological services; operations of aircraft; air traffic services; accident and incident investigation; aerodromes;efficiency aspects of aviation and environmental protection; aeronautical charts and information; the carriage of dangerous goods; and NextGen and SESAR . Except for NextGen and SESAR, these subjects form the titles of the Annexes to the Chicago Convention that particularly involve the rights and liabilities of the key players involved in air navigation."

Wirtschaftliche Grundlagen von Multimedia-Produktionsvertragen.- Grundlegende Begriffe (Multimedia, Teledienste, Rundfunk, Mediendienste).- Produktionsvertrag.- Vorbestehende Rechte.- Kennzeichenrecht im Besonderen anhand des Beispiels Domain-Name.- Das Wichtigste zu E-Commerce-Angeboten.- Verbraucherschutzvorschriften.- Einbindung von Dritten auf Seite des Produzenten.- Steuerrecht.- Spiele.- 1 to 1 Marketing und Datenschutz.- Haftung fur Multimediaprodukte.- Streitschlichtung.- Kommunen im Netz.- Verhalten bei Abmahnungen. Rechtsfragen der Unternehmensorganisation.- Rechtsfragen bei Einfuhrung eines QM-Systems.- Der Kriterienkatalog fur E-Commerce-Projekte.- Projektmanagement aus rechtlicher Sicht.- Projektdokumentation und Beweismittel aus rechtlicher Sicht.

The real estate market in Germany has recovered remarkably well from 2008/09 crisis. Portfolio transactions, infrastructure projects as well as investments in commercial and residential real estate are on the rise. This publication provides investors, property developers and advisers with a practical guideline to the legal, tax and commercial framework for real estate investments in Germany.

Under the current multilateral trading system, most business entities have turned their attention away from focusing exclusively on their domestic market to the management of international business transactions on the global market. Around the world, this trend has increased the demand for education and training on the principles of international trade and, more practically, the administration of international business transactions. This book aims to give upper-level undergraduates and graduate students a comprehensive understanding of the administrative and practical aspects of international commerce. It seeks to provide students, as the potential future practitioners of international trade, with the ability to gather and administrate the information needed to decide on and manage complex international business transactions, including in- and outsourcing problems, exports and imports.

This book gives a concise introduction to the German law of business organizations and is meant to help business practitioners and international students to familiarize themselves with its key concepts and legal issues. After outlining some characteristic features of the German legal system the book describes the various types of German business organizations with a special focus on the German Limited Liability Company ("GmbH") and the German Stock Corporation ("AG"). The book discusses some typical problems faced by companies engaged in cross-border activities and also provides a brief outline of some recent developments in European company law with a special focus on the new multinational corporate form of the European Company ("SE").

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Patent laws are different in many countries, and inventors are sometimes at a loss to understand which basic requirements should be satisfied if an invention is to be granted a patent. This is particularly true for inventions implemented on a computer. While roughly a third of all applications (and granted patents) relate, in one way or another, to a computer, applications where the innovation mainly resides in software or in a business method are treated differently by the major patent offices in the US (USPTO), Japan (JPO), and Europe (EPO). The authors start with a thorough introduction into patent laws and practices, as well as in related intellectual property rights, which also explains the procedures at the USPTO, JPO and EPO and, in particular, the peculiarities in the treatment of applications centering on software or computers. Based on this theoretical description, next they present in a very structured way a huge set of case studies from different areas like business methods, databases, graphical user interfaces, digital rights management, and many more. Each set starts with a rather short description and claim of the "invention", then explains the arguments a legal examiner will probably have, and eventually refines the description step by step, until all the reservations are resolved. All of these case studies are based on real-world examples, and will thus give an inexperienced developer an idea about the required level of detail and description he will have to provide. Together, Closa, Gardiner, Giemsa and Machek have more than 70 years experience in the patent business. With their academic background in physics, electronic engineering, and computer science, they know about both the legal and the subject-based subtleties of computer-based inventions. With this book, they provide a guide to a patent examiner's way of thinking in a clear and systematic manner, helping to prepare the first steps towards a successful patent application.

The end of this century has witnessed dramatic changes in morality, history and geography. These changes were felt throughout the world, and also across the entire gamut of professional concerns. Even relatively remote and seemingly insulated activities such as science and technology have experienced, and up to a point contributed to, these dramatic changes. This volume presents a series of views on the effect of these changes on science and technology, and more specifically, on the international diffusion of new technologies. These views come from a variety of fields, among them history and sociology of science, political science, information sciences, marketing. Yet, most authors share an interest in science policy studies which permeates this collection. It would be fair to say that this volume belongs to the intellectual domain known as STS, i. e. studies in Science, Technology and Society. The authors come from nine countries, and their contributions are expected to reflect this diversity. It is well known that the dominant lingua franca in the end of the 20th century is Broken English, with the possible exception of a minority of native English speakers some of whom fail to learn this new language. An attempt was therefore made throughout this volume to conform to a certain standard of English usage and, at the same time, to preserve the local flavour of expression, and the stylistic and cultural dimensions of each chapter.

More than a decade has passed since economist Richard N. Cooper reflected upon the trend toward increasing economic interdependence in the international community: During the past decade there has been a strong trend toward economic interdependence among the industrial countries. This growing interdependence makes the successful pursuit of national economic objectives much more difficult. Broadly speaking, increas ing interdependence complicates the pursuit of national objectives in three ways. First, it increases the number and magnitude of the disturbances to which each country's balance of payments is subjected, and this in turn diverts policy attention and instruments of policy to the restoration of external balance. Second, it slows down the process by which national authorities, each acting on its own, are able to reach their domestic objectives. Third, the response to greater integration can involve the community of nations in counter-acting motions which leave all countries worse off than they need be . . . J Nothing has occured in the 1970s to suggest that Cooper's assessment is inaccurate. Indeed, the process which he identified has accelerated. By the mid-1970s, if one is to mention but one example, exports accounted for twenty per cent of the combined gross national product of the Member States of the European Communities, and exports provided seven per cent of the 2 gross national product of the United States."

1 When in the late seventies the Commission started its preparatory work on a plan of action(l) for the creation of a real Community Innovation market, obviously the question came up, how patents or industrial property could specifically help in stimulating technological and industrial innovation and technology transfer in the Community. From an earlier contractor's study(2) about possible items of action in patent law for the improvement of the impact of patents and patenting upon innovation, it was clear that, in principle, there was room for improvement but shortage of information as to how and to what extent efficient improvements should and could be made. 2 In the early 1980s then, the need for clarifying the potential for improve ment in patent law and patent practice became more pressing, so that the Commission convened an informal meeting of experts on 3/4 November 1982 in Luxembourg, in order to discuss the issues relevant to the relation ship between patent protection and innovation and to identify suitable subject matter for action or study. 38 experts from nine Member States, coming from different areas of activity in industrial property or in innova tion attended the meeting, which was chaired by two of them."

DENNIS CAMPBELL AND MARK MILLER Introduction Within the last decade, there has been significant expansion in both the frequency and quantity of direct foreign investment by Western countries and multinational 1 corporations (MNC's) in the forni of joint ventures in Eastern Europe. These joint ventures, as well as other forms of mutual-cooperation trade arrangements, represent positive evidence of the increasing enthusiasm towards East-West trans actions now found on both sides of the European frontier. The spirit with which Western governments and business interests have sought to expand involvement in the East European market has been well documented. However, there has been relatively little attention paid to the extremely important internal changes which have come about within the foreign-trade policies of the Eastern European coun tries and which have served to accommodate the growth of trade with the West. This dramatic increase in direct foreign investment in the form of joint ventures results primarily from the passage of enabling legislation in a number of the East European states, legislation which has facilitated and attracted business invest ment from the West. Thus, it is opportune to examine and review the policy reforms and amendments which have been enacted in Eastern Europe and the Western responses thereto. As a preliminary matter, the term 'joint venture', as well as other mechanisms for foreign investment as used here, should be defined and distinguished."

Introduction VII I. Brief outline of substantive law provisions I Introduction I 1. 0 1. 1 I USA Germany 1. 2 2 1. 3 EEC 2 1. 4 France 3 1. 5 U. K. 4 1. 6 Switzerland 5 1. 7 Italy 5 1. 8 Australia 5 2. Is there substantive provision under national law for the extrat- ritorial application of that law? 7 2. 0 Introduction 7 2. 1 USA 7 2. 2 Germany 8 2. 3 EEC 9 2. 4 France 9 2. 5 U. K. 10 2. 6 Switzerland 11 2. 7 Italy 11 2. 8 Australia 11 3. Relevant principles of intemationa11aw 12 The princip1e of State Sovereignty 3. 1 12 The intemational1aw princip1e of Comity 3. 2 13 3. 3 The right to be heard in your own defence 13 3. 4 Jurisdiction based upon nationality; Personal Jurisdiction 14 3. 4. 1 USA 14 3. 4. 2 Germany 15 3. 4. 3 EEC 15 France 3. 4. 4 15 3. 4. 5 U. K. 16 3. 4. 6 Switzer1and 16 3. 4. 7 Ita1y 16 Australia 3. 4. 8 16 IX 3. 5 State hospitality to commerce 16 3. 5. 1 USA 17 3. 5. 2 EEC 17 3. 5. 3 Germany 18 3. 5. 4 Switzerland 18 4. National procedural ru1es 19 4. 0 Introduction 19 4. 1 USA 20 4. 1. 1 Written requests for information (discovery orders) 20 4. 1.

The theoretical basis of commercial law, corporate governance law, and corporate law is still unsatisfactory. There essentially is no theory of commercial law, and existing theories of corporate governance and corporate law cannot explain the behaviour of firms or the contents of existing regulation. This book proposes a coordinated solution for all three areas. The starting point is that all three areas deal with the organisation of firms. Commercial law, corporate governance, and corporate law are therefore studied from the perspective of the firm rather than that of the judge or the investor. Changing the perspective makes it easier to formulate an "umbrella" theory of commercial law, and theories of corporate governance and corporate law as applications of the main theory. The book provides examples of how the proposed theories work by studying legal corporate governance tools and practices that increase the sustainability of the firm. Sustainability can be bolstered by making the governance model more self-enforcing and ensuring that it fosters innovation.

Commercial law is the label applied to the collection of rules and principles which cover dealings between parties acting in the course of business. Commercial law is as diverse as commercial life. Nonetheless, there are key ideas which underpin all types of commercial dealings. This book focuses on those key ideas and considers how modern commercial law implements them. This book argues that commercial law has three main concerns: - Agency. The extent to which multiple parties can act on behalf of a single commercial enterprise. Without agency rules, there could be no modern commercial economy. - Risk. Commercial parties run two main types of risk: performance risk (the risk that the provision of goods or services or credit is inadequate) and credit risk (the risk that money due for performance rendered is not paid). - Dealings. The ability of, and limits on, parties dealing with property, including transferring title and creating security interests. In the process of exploring this trilogy, the book considers pervasive themes in commercial law including sources for commercial law, freedom of contract and its limits, the need for certainty and predictability, and the appropriate role for obligations of good faith and fair dealing.