Ñheap and easy access to the Internet has over the past few years drastically changed the way we communicate, work, shop and find information. Not only has it made the majority of companies move on-line and adapt their business to the digital environment, but also created a specific market with lots of challenges.
Businesses around the world spent nearly USD 192 billion on online advertising. Yes, the figure you’re reading is right. One hundred and ninety two billion United States Dollars. The 2017 online advertising statistics tell us that for every minute an estimated 650,000 searches were made on Google, over 700 videos were hosted on YouTube, over 700,000 status updates and 500,000 comments were posted on Facebook, over 65,000 tweets were made, and approximately 180 million emails were sent.
In May 2013 Ukraine was designated by the U.S. Government as a Priority Foreign Country (PFC), which meant that Ukraine has been ranked the No. 1 pirate country in the world. The PFC designation was based specifically on three critical problems in Ukraine’s intellectual property rights (IPR) regime, and one of them is failure to implement “an effective and systemic means to combat widespread online infringement of copyright and related rights”. These problems (namely, online piracy, of which torrents and illegal online movie streaming are the most representative examples) are causing severe economic harm to copyright rights holders in Ukraine.
Tatiana Kharebava, Veronika Zbryzka
The video games industry is now one of the most lucrative. This industry has caught up with the film and sport industries in terms of profit growth. Such data became known after the reports of two famous analytical companies, SuperData and Unity Technologies, were published in January 2018. The title of the report is more eloquent than any conclusions: "Can’t Stop, Won’t Stop”. Indeed, the global financial crisis is not having such a beneficial effect on any industry of the economy as on the gaming industry: people have been playing games and will continue to play. Therefore, factors that could counteract the financial growth of the video games industry do not exist yet.
Vasil Kisil & Partners advised Corteva Agriscience
CMS advised ING on USD 80 million facility to Vioil
Dentons advised BNP Paribas
AEQUO advised DebtX
MHP SE announced Eurobond closing
Asters advised CMEC
NBU lost action in Privatbank case to Cypriot company
Prosecutor’s Office ordered to pay UAH 5 million of moral damage for 12 years of inaction
Wolf of Wall Street producer to pay USD 60 million fine due to non-transparent financing
Representatives of Siemens lost appeal in “Crimean turbines” case in Russia
Court prohibited copying popular “Kievskiy cake” against claim filed by Roshen
Odessa airport real estate transferred under ARMA administration
Ministry of Finance proposed establishing criteria for high income individuals
Ukraine signed four conventions of the Council of Europe
New Draft envisages new Sanctions over conflict in Donbas
Deposit Guarantee Fund cooperation procedure with agent banks
Licensing requirements for small wineries simplified
Annual planning of business inspections
Regulation on leasing of property of insolvent banks
On 26 February 2018, shareholders of the Latvian ABLV Bank adopted a decision on its liquidation at their extraordinary meeting.
Capital outflow from the loans institution began after the report by the US Financial Crimes Enforcement Network (FinCEN) on the intention to introduce sanctions against ABLV Bank for implementing money laundering schemes assisting the North Korean nuclear program and illegal activities in Azerbaijan, Russia and Ukraine. As a result, EUR 600 million was withdrawn from the bank.
The American Chamber of Commerce in Ukraine was delighted to welcome Congresswoman Marcy Kaptur, who represents Ohio’s Ninth Congressional District and is currently serving her seventeenth term in the U.S. House of Representatives. Congresswoman Kaptur is a co-founder and co-chair of the Congressional Ukraine Caucus and the longest-serving woman from the State of Ohio in history.
We are aware that the area of intellectual property protection is affected less by economic crises, and is getting rapidly internationalized. It spans into the Internet and commercializes innovations. Brand owners think globally, while regulations should be continually adjusting to technological developments. This requires IP services providers to establish partnership networks, monitor trends in different parts of the world and research the strategies of global IP trend setters. We asked Viktoriia Ostapchuk and Anna Kravchuk, founders of Synergy IP Law Agency, to tell us how a Ukrainian IP law firm meets this professional challenge, and what business vision assists them in reaching synergies.
Maryana Sayenko, Alina Kuksenko
Referring to the works of Jacques Ellul, a XX-century French philosopher and sociologist, one can come across his famous quote about technological development: “Technology has become a total phenomenon for civilization, the defining force of a new social order in which efficiency is no longer an option but a necessity imposed on all human activity”. That remains true-to-life in our fast-developing and increasingly competitive world, where efficient use of innovation, technology and modern digital instruments directly affects economic success and business viability.
Taras Lytovchenko, Arthur Kozak
Following the strategy of the Government to improve the “doing business” climate in Ukraine, Parliament adopted the Law of Ukraine On Amendments to Certain Legislative Acts of Ukraine Regarding Elimination of Barriers to Attracting Foreign Investments of 23 May 2017 (hereinafter — the Law), which came into force on 27 Septem ber 2017. The Law with such an expressive name should have definitely removed the barriers for employment of foreigners, but what have we actually received? Putting the cart before the horse, the Law really significantly changed the procedure of obtaining work permits, facilitating it essentially on the one hand, but introducing some questionable conditions on the other.
The UJBL editorial team spent the last month monitoring recently adopted legislation and new initiatives. This month we asked to comment on the law of Ukraine On State Financial Guarantees for Medical Treatment of the Population; Resolution No.254 which established the rules on state support for agribusiness in 2018; Law of Ukraine On State Control over Compliance with Legislation on Food Products, Feeds, By-Products of Animal Origin, Health and Welfare of Animals. We bring together expert thoughts about proposed draft laws On Concession; On Introduction of Amendments to the Land Code of Ukraine and some other Legislative Acts on Countering Raiding; On Amendments to the Tax Code of Ukraine and some Legislative Acts Regarding Criteria for Identifying High Income Individuals.
Declaration on establishing European Blockchain Partnership signed
Ukraine started issuing electronic visas for citizens of 46 countries
CMS European M&A Study
Boom in W&I
Increased use of locked boxes
Decrease in liability caps
Statements on transfer pricing filed
Banking & Finance
Latvian ABLV Bank working with CIS to be liquidated
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