Just as buying a home is a major investment for the average person, buying business property is a major investment for a company. Property transactions take a great deal of time and money to complete, and require the buyer to take the utmost care not to do the equivalent of stepping on a rake. This Read more
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It is important for the founders of start-ups to devise a long-term development strategy for their new business, that should include the strategy for the implementation of protection of the intellectual property rights of the start-up as the necessary element, if not one of the first ones. Read more
Riigikogu has finished the first reading of new draft Money Laundering and Terrorist Financing Prevention Act (MoneyLPA) and draft State Fees Act Amendment Act (8 SE I), which should be considered by so-called cryptocurrency undertakings authorised to operate in the area of providing services of exchanging a virtual currency against a flat currency or providing Read more
A bit more than a year ago, on 25.05.2018, new rules for data protection, i.e. the General Data Protection Regulation of the European Union (GDPR) was applied. Below are described five main events which occurred within the past year regarding the application of the EU Regulation. Read more
Lithuania continues to strengthen the business development environment for start-ups and helps them become stronger and more successful in the Lithuanian market. Read more
In May 2019, amendments to the Law on Taxes and Duties will enter force prohibiting cash payments in real estate transactions. The amendments aim to reduce the grey economy and restrict cash circulation, undercut potentially fraudulent transactions and money laundering. These amendments complement the existing legislation, which limits cash transactions above EUR 7200 threshold. This Read more
At the end of March 2019 the draft law to amend the Law on the Prevention of Money Laundering and Terrorism Financing was prepared. The amendments provide series of changes, including granting Latvian Register of Enterprises additional rights to verify company’s true beneficiaries, as well as to register a warning if indicated information regarding such Read more
In the era of rapid development of information technologies and manufacturing, constantly increasing investments in scientific researches and innovations, the issue of legal protection of commercial secrets (such as technologies, expertise and information) has become more essential than ever. In order to improve national regulatory enactments in this area, on 28 February 2019 Latvia’s Parliament Read more
In our earlier publication, we wrote that last summer the Estonian court asked the European Court of Justice a question related to the online sales of counterfeit goods and who can be held responsible for such activities. By now, the European Court of Justice has given its reply. Read more
Trademarks of the European Union (EU), acquired prior to the withdrawal of the United Kingdom (UK) from the EU, should be also protected after the withdrawal in accordance with the EU legislation. New provisions would only apply to newly registered trademarks. Read more