U.S. and Canada Reach Agreement to Update Columbia River Treaty The U.S. and Canada announced a significant breakthrough in updating the Columbia River Treaty, a pivotal agreement first established in 1964. This “agreement in principle” follows six years of negotiations and aims to address the evolving needs of flood control,…
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Patent waiver on vaccines A patent right is an absolute right given for an invention of a product or process which will proscribe others from utilizing, distributing or retailing the product without the consent of the owner. The patent protection is subjected under the TRIPS agreement. The patent holders have the prerogative to manufacture, sell, and use the vaccine for the entire term of 20 years from the date of the filing of the…
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Explaining Cryptocurrency's Ransomware Problem (USA) Introduction A hacker gains access to a company's computer system and encrypts its data, effectively halting operations. The data is then held captive by the hacker until a ransom is paid. If the demand is for Bitcoin or another cryptocurrency, the victim must open a cryptocurrency…
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The Legality of Backdating Contracts Introduction The “contract date”, seemingly a very basic concept, can contribute to some problems and confusion among parties contracting therein. The main issue that parties may face is regarding the interpretation of the dates mentioned in the contract. There are essentially three types of dates…
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Business Exit Strategy for a Family-Owned Business Introduction Companies like Walmart in the US and Reliance in India are some really successful examples of family-owned businesses. However, family and business are two parallel worlds that should ideally never meet. Operating a family business comes with its own challenges and results…
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Concealment of Assets in Bankruptcy Introduction A businessman's business is basically his baby; the decision of going through the process of bankruptcy is probably the most difficult decision that a company has to make throughout its lifetime. Everyone involved in the procedure, be it, the debtors or creditors are losers…
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Confidentiality in International Arbitration Introduction Confidentiality is the essence of trust, which is why individuals, corporations and even government bodies resort to Arbitration. Confidentiality is attractive to litigants internationally for a myriad of reasons, like freedom of making arguments which would not normally be made at a public forum, or…
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Foreign Investment Risk Review Modernization Act, 2018- USA National security always matters, obviously. But the reality is that if you have an open door in your software for the good guys, the bad guys get in there, too. - Tim Cook The Committee for Foreign Investment in the United States…
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A Guide on REITs Since time immemorial, real estate has been acknowledged as a historically significant investment class- one that offers increased portfolio diversification, low volatility, and optimally risk-adjusted returns. A Real Estate Investment Trust (REIT) is a financial instrument that not only allows investment in real estate but an…
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Termination in case of Terminal Illness, UAE It has been an unexpectedly enlightening experience to see patients' primary concern once they are diagnosed with a terminal illness is whether they will be able to continue working while they are receiving their treatment or not and the extent of treatment on…
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Joint Ownership of Intellectual Property Introduction Henry David Thoreau said, “the world is a canvas to the imagination.” This is very accurate as ideas are the foundation of any success, business, or personal. Depending on the effort put and the extensive research into the innovation, it is safe to…
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Special Purpose Acquisition Company One or more private individuals/entities can create a Special Purpose Acquisition Company (SPAC) for the special purpose of acquiring interest in one or more existing companies or businesses by raising capital through an initial public offering (IPO), and therefore, receive profit from such a merger, acquisition…
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Cause of Action under Real Estate Settlement Procedures Act The Real Estate Settlement Procedures Act of 1974 (hereinafter “RESPA”) came into effect since June 20, 1975. The law is bulky and a code into web of accountability all the parties to the real estate settlement transactions viz. mortgage brokers, servicers of…
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Airplane Crash Liability in International Law Introduction The two recent international aeroplane crashes (the Lion Air crash and the Ethiopian Air crash) resulted an international outcry over the safety of passengers aboard international flights. Consequently, the question of which entity can be held accountable for these disasters is on the…
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