In Agriculture, Price Stabilisation and Trade Rules, Irene Musselli offers a comprehensive doctrinal and historical analysis of stabilisation tools and approaches in agriculture. Using her extensive practical experience in the field, she takes up the interface of the tools discussed with trade rules and offers the first comprehensive analysis of WTO rules from the perspective of stabilisation policies. This volume offers a fresh look at the tool box of managed trade in agricultural commodities and develops new and refined solutions that take into account the legal role of equity and of graduation. Musselli offers new insights and is able to invigorate a debate caught in overly ideological entanglements between market oriented and interventionist schools.

This book adds to the debate on the effects of covenants on third-party creditors (externalities), which have recently become a focus of discussion in the contexts of bankruptcy law, corporate law and corporate governance. The general thrust of the debate is that negative effects on third-party creditors predominate because banks act in their own self-interest. After systematising the debated potential positive and negative externalities of covenants, the book empirically examines these externalities: It investigates the banks' factual conduct and its effects on third-party creditors in Germany and the US. The study's most significant outcome is that it disproves the assumption that banks disregard third-party creditors' interests. These findings are then interpreted with the tools of economic analysis; particularly, with the concept of common pool resources (CPRs). Around the aggregated value of the debtor company's asset pool (as CPR) exists an n-person prisoner's dilemma between banks and third-party creditors: No creditor knows when and under what conditions the other creditor will appropriate funds from the debtor company's asset pool. This coordination problem is traditionally addressed by means of bankruptcy law and collaterals. However, the incentive structure that surrounds the bilateral private governance system created by covenants and an event of default clause (a CPR private governance system) is found to also be capable of tackling this problem. Moreover, the interaction between the different regulation spheres - bankruptcy law, collateral and the CPR private governance system has important implications for both the aforementioned discussions as well as the legal treatment of covenants and event of default clauses. Covenants alone cannot be seen as an alternative to institutional regulation; the complete CPR private governance system and its interaction with institutional regulation must also be taken into consideration. In addition, their function must first find more acceptance and respect in the legal treatment of covenants and event of default clauses: The CPR private governance system fills a gap in the regulation of the tragedy of the commons by bankruptcy law and collateral. This has particularly important implications for the German 138 BGB, 826 BGB and ad hoc duties to disclose insider information.

From human trafficking to smuggling small arms to looting antiquities, illicit trade poses significant threats to international order. So why is it difficult to establish international cooperation against illicit trade? Governing Guns, Preventing Plunder offers a novel, thought-provoking answer to this crucial question. Conventional wisdom holds that powerful criminal groups obstruct efforts to suppress illicit trade. In contrast, Asif Efrat explains how legitimate actors, such as arms manufacturers or museums that acquire and display looted antiquities, often act to hinder policing efforts. However, such efforts to evade regulation often fuel intense political conflicts between governments that demand action against illicit trade and others that are reluctant to cooperate. The book offers a framework for understanding the domestic origins of this conflict-and how the distribution of power shapes the conflict's outcome. Through this framework, Efrat explains why the interests of governments vary across countries, trades, and time. In a fascinating empirical analysis, he solves a variety of puzzles: Why is the international regulation of small arms much weaker than international drug control? What led the United States and Britain to oppose the efforts against plunder of antiquities and why did they ultimately join these efforts? How did American pressure motivate Israel to tackle sex trafficking? Efrat's findings will change the way we think about illicit trade, offering valuable insights for scholars, activists, and policymakers.

This book deals with set-off in international arbitration proceedings. In these proceedings, set-off is frequently the tool relied upon to resist a claim. At the same time, the legal intricacies make it hard to use. The first part of the book provides a survey of set-off, including its definition, significance, and functions. The second part offers a thorough comparative analysis of selected European laws of set-off and reveals the dramatic differences between them. The third and final part of the book deals with the problematic consequences of these differences and shows the limits and the inadequacy of the traditional choice-of-law doctrines. While demonstrating how to overcome the practical hurdles of the present situation, the third part also offers normative alternatives that may offer significant help in the adjudication of commercial disputes. This will be an invaluable reference for arbitration and commercial practitioners.

Trade Law Like tariffs and other border measures, national regulatory barriers impede international trade. Unlike tariffs, however, such barriers usually indicate an important domestic policy choice. This "conflict of interest" has emerged as a crucial issue in international law, particularly with regard to services, such as telecommunications and health services. This study is the first to analyze the potential impact of incompatibilities between national regulatory regimes and the rules and obligations imposed by the General Agreement on Trade in Services (GATS). In the process of arriving at his challenging concluding theses, the author investigates such relevant concepts as the following: the political and ideological dynamics of GATS negotiations; services trade liberalization in regional integration systems, particularly in EC law; policies common to diverse national regulatory systems; the notions of "deregulation" and "privatization"; the human rights implications of international trade law; the GATS obligations of market access, national treatment, and most-favoured-nation treatment; the role of the WTO's dispute settlement organs; and GATS transparency obligations. Professor Krajewski's study is of enormous significance to specialists in regulatory policies and instruments at all national and sectoral levels, especially in the context of ongoing GATS negotiations. As the author warns: "Unless GATS negotiators and national regulators have a thorough understanding of the relationship between GATS obligations and regulatory policies and instruments, they cannot effectively use the flexible elements of GATS and could reach an agreement which they may later regret."

Prof. Dr. H. C. Klaus Vogel turned 70 in December 2000. For his students, colleagues and friends all around the world he has been not only a teacher and academic, but also a researcher and mentor, and this occasion provided the opportunity to honour him with a Festschrift. This celebratory volume, with contributions in German and in English, is published under the title Staaten und Steuern (States and Taxes) by C.F. Muller Verlag in Heidelberg. With the permission of the publisher, the present volume contains the English language contributions as a separate publication. The following articles are included.

This text is the result of a conference held in London in September 1999, jointly organized by Hammond Suddards Solicitors and the Centre for the Law of the European Union of University College, London. This conference addressed the issues surrounding the European Commission's White Paper published in April 1999. In this respect, the conference presented distinguished speakers with an opportunity to air their views in public on this important development in the evolution of competition law in the European Union. The authors have tried to cover as much ground as possible, giving the view of authoritative contributors and competition authorities from most of the major European countries and from the European Commission. The contributors naturally focus on the Commission's White Paper and view their national situation in this light. There is detailed treatment of the situation in the UK and the entry into force of the UK Competition Act.

This book provides, for the first time in a single publication, a collection of basic documents relating to the international law of nuclear energy. The series of introductions facilitate the understanding of the documents and their context. They embrace the four concerns associated with the safe and peaceful use of nuclear energy, i.e. to ensure: that nuclear energy is used in conformity with basic safety standards; that nuclear material and nuclear facilities are protected against theft and sabotage; that nuclear facilities are not subject to attack during armed conflict; and that nuclear material and facilities are not used for military purposes. The book is an invaluable reference work for all those working in the field of international nuclear law and the regulation of the use of nuclear energy as well as for teachers and students of law.

In a world of fading borders, the Internet has become a regular method of buying and selling. However, technological and legal means of guaranteeing secure electronic transactions lag behind the increasing flexibility required by a flourishing "virtual" economy. Furthermore, as virtual money circulates it is susceptible to interception, processing and channeling by any number of corporate interests and public authorities. The questions arise: who is going to control what and why? There are, as yet, no firm answers. This book sets the stage and takes the necessary first steps towards developing a reliable legal regime for virtual money. Its purpose is: to analyze the legal issues raised by internet payment systems, and to explain clearly the solutions already adopted; and to discuss policy issues, with available hypotheses, raised by the convergence of financial services and information technology, and by the advent of virtual money. The authors provide a rigorous assessment of the appropriateness of the relevant existing legal instruments that regulate Internet payment systems, and focus in particular upon the rapidly increasing use of "electronic cash" - on smart cards or in the form of dematerialized electronic tokens - which behaves like cash, in that it can circulate between parties without the intermediation of a financial institution. The text aims to help lawyers, policymakers and business people successfully negotiate the radical transformation under way in all sectors of business and industry.

This timely book points the way towards a new positive regulatory framework for international investment following the failure of the Multilateral Agreement on Investment (MAI). It examines the flaws in free-market strategies underpinning the recent phase of globalization, in particular drawing out the lessons from the MAI, which was suspended in October 1998. The authors explore an alternative based on a positive regulatory framework for international business aimed at maximizing the positive contribution to development of foreign investment and minimizing its negative social and environmental impacts. The contributors include academics, researchers for non-governmental organizations, and business and trade-union representatives, writing from a combination of economic, legal and political perspectives. The book combines academic analysis with grass-roots and practical experience, and suggests concrete policy proposals.

The CISG is the United Nations Convention on Contracts for the International Sale of Goods; a treaty ratified by about 70 countries that provides a uniform international sales law. The occasion of the CISG's 25th anniversary signals something extremely significant in the world of international commercial law: the true coming of age of the CISG, as evidenced by (and as a result of) several thousand available court and arbitration decisions world-wide applying the CISG. To celebrate this occasion, in November 2005, a conference was organized by the University of Pittsburgh's Center for International Legal Education and the United Nations Commission on International Trade Law (UNCITRAL). This publication brings together the intellectually sophisticated yet extremely practical and original contributions written by leading CISG scholars from around the globe and practitioners experienced in dealing with the CISG. Included are 140 sample clauses, a complete model sales agreement, and contextual analysis of contract drafting issues. The CISG is a new realty and is very relevant to US attorneys at the planning and negotiation stages of a sales transaction. It is increasingly the case that a lawyer in the US, or virtually anywhere else, cannot adequately serve a client's needs without knowledge of and skill in using the Convention to help, for example, prevent transactions from aborting over choice of law conflicts, and to offer creative alternatives that can resolve bargaining impasses. This book features: BL Comprehensive analysis of contract drafting issues raised by the CISG BL A complete set of standard terms and conditions for a sales contract BL A wide variety of sample clauses addressing important specific issues under the CISG, with accompanying analysis of matters implicated by those clauses that should be considered in the drafting process BL Original and clearly written contributing chapters by the most noted and eminent scholars on the CISG from around the world In this book, international commercial lawyers will find sample clauses dealing with major contract issues under the CISG, including: BL opting into the CISG while providing an appropriate gap-filling source of law BL passage of risk of loss BL right to inspection of goods BL force majeure BL warranties and warranty disclaimers BL limitations on remedies BL choice of forum BL pre-contractual relationships and prior communications BL confidentiality of negotiations BL retention of the power of revocation of an offer BL strict time limits for acceptance of an offer BL the "battle of the forms" BL the law governing contract validity BL parole evidence BL party rights upon breach BL notice requirements to preserve rights BL notice of avoidance BL entitlement to interest BL specific performance versus damages BL buyer's right to substitute goods

The introduction of the Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement has established a global patent system requiring a high standard of patent protection. However, any consequential increase in patent applications will further strain the resources of patent offices worldwide. A monolithic "World Patent Office" granting "World Patents" will most likely remain a utopian idea but the Patent Cooperation Treaty (PCT) has successfully demonstrated how to emulate a "World Patent Office" processing "World Patent Applications". The current PCT only goes halfway towards the grant of a patent, hence, the logical step to handle an increase in patent applications would be to further develop the PCT towards a patent grant procedure. This has been recognized and in late 2000, the Assembly of the PCT Union decided to set up a special body to consider a formal request by the United States for a "Reform of the Patent Cooperation Treaty".

As part of its review of competition law that started in the late 1990s, the European Commission proposes to revise its interpretation and application of the Treaty 's prohibition of abuses of dominant positions. Also, it has instigated a debate about the promotion of private enforcement of EC competition law. On the former subject, the Commission published a Discussion Paper in 2005; on the latter, a Green Paper in 2005, followed by a White Paper in 2008.

The chapters in this volume critically appraise the Commission 's proposals, including the most recent ones. The authors also highlight the repercussions of the proposed more economic approach to abuses of dominant positions on private litigants opportunities to bring damages actions in national courts for such abuses.

This book offers guidance for US-based IT businesses on both sides of the Atlantic when dealing with big data and government data, since transatlantic data flows are key to the success of these enterprises. It offers practical insights into many of the data-protection challenges US companies in various industries face when seeking to comply with US and EU data-protection laws, and analyses the potential conflicts in the light of their risks and the way in which US-based cloud providers react to the uncertainties of the applicable data-protection rules. The book particularly focuses on the insights derived from a qualitative study conducted in 2016 with various cloud-based IT businesses in the Silicon Valley area, which shows the diversity of views on data protection and the many approaches companies take to this topic. Further, it discusses key data-protection issues in the field of big data and government data.

This book explores the way in which 'development' has functioned within the multilateral trade regime since de-colonisation. In particular, it investigates the shift from early approaches to development under the GATT to current approaches to development under the WTO. It argues that a focus on the creation and transformation of a scientific apparatus that links forms of knowledge about the so-called Third World with forms of power and intervention is crucial for understanding the six decades long development enterprise of both the GATT and the WTO. The book is both topical and necessary given the emphasis on the current round of negotiations of the WTO. The Doha 'Development' Round has been premised on two assumptions. Firstly, that the international community has undertaken an unprecedented effort to address the imbalances of the multilateral trading regime with respect to the position of its developing country members. Secondly, that its successful conclusion represents an historic imperative and a political necessity for developing countries. Through a sustained analysis of the interaction between development thinking and trade practices, the book questions both assumptions by showing how development has always occupied a central position within the multilateral trading regime. Thus, rather than asking the question of what needs to be done in order to achieve 'development', the book examines the way in which development has operated and still operates to produce important, and often unacknowledged, power relations. "Intense controversy surrounds the issue of the relationship between trade and development. This book is novel in examining the emergence of the international trade regime in the context of the history of the concept of development that may be traced back at least to the time of the League of Nations. This is a very welcome and original contribution to the field that should generate new discussions and understanding about the law of international trade." Antony Anghie, University of Utah

This book addresses the recent debate about copyright law and its impact on the distribution of scientific knowledge from an economic perspective. The focus is on the question whether a copyright regime or an open access regime is better suited to the norms and organizational structure in a purely global science community. The book undertakes a thorough economic analysis of the academic journal market and showcases consequences of a regime change. It also takes account of the Digital Divide debate, reflecting issues in developing countries. Finally, a comprehensive analysis of legal action in the light of international Intellectual Property (IP) agreements offers prospects on the future of academic publishing.

Edited by Shaheeza Lalani and Rodrigo Polanco Lazo, The Role of the State in Investor-State Arbitration is a collection of edited contributions by lawyers, arbitrators and political scientists on the development of the concept of the "State" in a field that currently presents an increasing number of controversial disputes: Investor-State Arbitration.

In the aftermath of the global financial crisis, the world has witnessed increasing manifestations of eroding trust in the international trade regime, including Brexit and the Trump administration's unilateral trade policies. Restoring trust in the international trading system is essential to prevent the rise of economic nationalism and beggar-thy-neighbour policies, which as history has shown are a threat to global welfare and peace. As a scholar, counsellor of the WTO Appellate Body Secretariat, and, between 2009 and 2017, a member of the WTO Appellate Body, Peter Van den Bossche has addressed the challenges faced by the international trade regime and has tirelessly promoted trust in the multilateral governance model. This Liber Amicorum honours his contribution to the development of a 'trustworthy' rules-based multilateral trading system, which has left a lasting legacy. In this timely book, leading experts and friends of Peter Van den Bossche, including his mentors, colleagues and PhD candidates, come together to pay tribute to his work by exploring, from a legal perspective, what can be done to restore trust in trade, focusing on: (1) ensuring a robust institutional framework that promotes rule of law over power politics, (2) safeguarding the integrity and effectiveness of trade dispute settlement, and (3) ensuring that substantive international trade rules appropriately balance trade and non-trade interests.

Hardbound. This volume is a general dictionary within the areas of company, business and financial law, where the selection of terms is based primarily on established and emerging usages within Community legal terminology. The volume provides definitions and general explanations in English, supplemented with specific explanations in Danish and/or German as required. The careful arrangement of terms in Danish and German allows near-independent use between these two languages. Heavy emphasis is placed on idiomatic language use with the inclusion of a large number of complex verb and noun phrases, everyday abbreviated terms, and names of institutions etc. When making the selection of terms, the compilers used their experience as professional translators of commercial and theoretical legal and financial documents. The dictionary will be invaluable to Community business people, lawyers, accountants, translators and students.

The globalization of the securities markets, rapid technological advancement, the perpetration of widespread cross-border fraud and the proliferation of emerging capital markets have made international financial law an increasingly important area of regulation, practice and research. Its significance will continue to grow in the 21st century, making the advent of a book focusing on developments in international securities law extremely timely. Key topics covered in this book include disclosure requirements, insider trading regulation, global offerings, transnational regulatory co-operation, the role of the International Organization of Securities Commissions (IOSCO), memoranda of understanding and emerging capital markets. Discussion of these issues is supported by examination of the law and policy in numerous countries, including developed and emerging capital markets. The author makes detailed analysis of applicable legal principles with regard to a wide range of topics, discusses proposed standards for law reform and makes recommendations to enhance international cooperation.

The institutional and legal status of the WTO, with its integrated dispute settlement system, provides a framework for certainty, security and stability for trade as well as a coherent system to protect intellectual property rights. In all member countries and their respective enterprises, WTO regulations need to be considered when designing and implementing trade-related strategies for business operations in the integrated global market.

This book aims at giving upper-level undergraduates and graduate students a comprehensive understanding of the public regulations related to international trade within the WTO mechanism and equip them, as potential policy makers and future practitioners in international trade, with the practical skills to interpret and apply the multilateral trade regulations as outlined by the WTO."

This text provides a straightforward and up-to-date analysis of the wide range of issues surrounding the use of derivatives in common law countries, focusing on derivatives law and regulation in Australia, New Zealand, Singapore, Malaysia and Hong Kong. Topics covered include the nature of derivatives, key legal issues, standard market documentation, derivatives regulation, recent market developments and regulatory reform.

With a foreword by Peter Van den Bossche and Ellen Vos The Codex Alimentarius Commission was established by the Food and Agricultural Organization (FAO) and the World Health Organization (WHO) in 1963, as subsidiary organ of both organizations. Since its establishment, the Commission has been charged with the creation of the Codex Alimentarius: a collection of uniformly-defined food standards. Examples of food standards adopted by the Commission are the Standard for Natural Mineral Waters, the Maximum Residue Levels (MRLs) for hormone growth promoters in cattle, and the Standard for Sardines and Sardine-Type Products. The authority of the Commission is restricted by its position as a subsidiary body of the FAO and the WHO. However, with regard to its normative powers, the Commission operates independently from its parent organizations. This book examines the legal aspects of the Codex Alimentarius Commission and its standards, and describes more precisely the actual status of the standards, both within the framework of the WTO agreements as well as within the context of the EC legal order. In addition, it defines the consequences of the new status of the Codex standards for the legitimacy of the institutional framework of the Commission, its standard-setting procedure, and the Codex standards themselves. The book is geared at scholars of international law and WTO law. It will also be an important reference for specialists at national governments and international organizations (FAO, UNCTAD, WTO, WHO, World Bank, EC Commission, World Organisation for Animal Health, etc.), working with Codex standards and food safety, and equally of interest to food scientists and consumer organizations.

The book examines the rights of defendants in infringement procedures and those of the notifying parties in merger proceedings before the European Commission and the Chinese competition authorities. The initial chapters offer a general introduction to EU and Chinese competition law respectively, paying particular attention to the substantive rules of competition law. Subsequent chapters present an overview of the procedural rights of the notifying parties in merger cases in both legal systems surveyed, address the procedural rights of defendants in infringement cases, and provide an international perspective on differences in the notification and enforcement procedures between legal systems. The final chapter draws comparative conclusions and includes a number of suggestions for improvement.

As we move further into the 21st century, it is incumbent upon lawyers and law students to understand and manage the complexities of sustainable development. International Development Law: Rule of Law, Human Rights, and Global Finance offers a coherent and systematic overview of the many issues and underlying trends that affect 'international development law' and the underlying legal architecture between developing countries and advanced nations. Professor Sarkar describes how international development works, its shortcomings, its theoretical and practical foundations, along with the prescriptions for the future. The text is structured into two basic parts: the first part deals with the theoretical and philosophic foundations of the subject, and the second part sets forth issues relating to the international financial architecture, namely, international borrowing practices, privatization, and emerging economies. International Development Law provides the reader with new perspectives on the origins of global poverty, identifies legal impediments to sustainable economic growth, and provides a better understanding of the challenges faced by the international community in resolving global policy issues.