Is Insolvency and Bankruptcy the same? Insolvency is the legal term describing the situation of a debtor who is unable to pay his/her debts. The Insolvency Law differs from the Bankruptcy Law which was promulgated by Decree-Law No. (9) of 2016, particularly in the definition of the debtor. However, the primary purpose of both laws […]
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There are currently no specific laws on Employee monitoring in the UAE. However, employee consent should be given before any form of monitoring is carried out. Federal Law No.(5) of 2012 (Anti-Cyber Crime Law) Article 21 of the law makes one liable if he uses an electronic information system or any information technology means for
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What is intellectual property rights? Basically speaking, intellectual property rights are a common type of legal IP protection for those who create. These rights, however, have actually contributed enormously to the world, in particular economically. Many companies in a variety of industries rely on the enforcement of their patents, trademarks, and copyrights, while consumers can
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Theoretically, Article 127 of the Labour of UAE Federal Law 8 of 1980 provides that an employer may agree on a post-contractual non-competition clause with an employee who, due to their employment with the employer, has knowledge of the clients of the employer or confidential information or business secrets, as long as the non-compete duration
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The UAE offers a supportive and effective legal framework for businesses in-line with vision of country\’s leadership that is on par with international standards, and is essential for a competitive and prosperous economy. New Federal Law on Commercial Companies This new federal law on commercial companies makes it mandatory for all companies to develop
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Post-termination restrictions If a company grants an employee access to confidential information, know-how, or its customer base, it is usually in the employer’s interest to prevent the employee from taking advantage of such knowledge and seeking employment with a competitor. The employer can try to prevent this risk by agreeing on a non-competition clause that
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Under the civil transaction laws of the UAE, a company is defined as a contract where two or more persons are bound to each other to participate in a financial project by providing a share of work or project for exploiting the said property and the division of profit and loss that may arise there
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Foreign investors were reluctant to use the courts in the domestic courts to settle disputes, as both: Corporate Lawyers Financial Crimes in UAE DIFC-LCIA The arbitration costs are based on the time spent by the Secretariat and the arbitrator(s), it is not possible for the DIFC-LCIA to provide you with a breakdown or estimate of
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