European Monetary Union raises contract issues; U.S. companies doing business with EU firms may be affected by the conversion to the euro
Article Abstract:
Conversion to the euro will affect US corporations doing business with European Union (EU) firms. The general EU position is that there will be continuity of contracts and that the euro will substitute for debts and other obligations in ECUs at the rate of 1 to 1. This may lead to difficulties since the ECU is a unit of account rather than a currency. Thus, the substitution should held external currencies more than if the ECU had still been used. US companies and banks should look at all ECU bond and loan documentation and think about what the effects will be. Swaps and other derivative contracts will also be affected.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1997
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When competitors ally, agreements often sour; the best protection for a party is a clearly worded contractual statement of rights and duties
Article Abstract:
Common law principles give some protection, but parties to a joint venture should protect their interests with contracts to prevent the other side from taking advantage of their role. The common law principles are fiduciary duties and an implied contractual obligation of good faith and fair dealing. Universal Studios, Inc. v. Viacom, Inc. and ProtoComm Corp. v. Fluent Inc., are discussed. Both rulings were issued in the 1990s, the former by the Delaware Chancery Court and the latter by a federal district court.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1998
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European Community streamlines filing process: American companies that seek trademark protection in the E.C. now have a single simple option
Article Abstract:
The European Community will be covered in its entirety by a Community Trademark (CTM) starting in 1996, in a system parallel to that of national registration. A single filing process will suffice, with one fee for renewal, only one documentation of use, and the ability to litigate rights in a single action, optionally in English. The Office of Harmonization of the Internal Market will inform CTM owners of later CTM applications, and CTM applications that are denied can be converted into national applications.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1995
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