Business operations associate

On February 7, 2014, the State Council issued Notice on Reform Plans of Registration Policies of Registered Capital, GuoFa [2014] No. 7 (the “Notice”) providing guidelines on business registration reforms of companies in China.  The objective of the reform is to relax the administration on market entry and optimize the business investment environment.The reform mainly embraces the following areas:1. Relaxation of capital contribution requirementsUnder the current system, there are specific requirements about the timeline and amount of registered capital that needs to be injected to the company.  For example, shareholder should make initial capital contribution of at least 15% of the registered capital within three months of issuance of company’s business license and the remaining registered capital within two years of issuance of company’s business license. Whereas the new system allows the shareholder to decide on its own the means of capital … [Read more...] about China Business Registration Reform

The Small Business Administration (“SBA”) issued a finale rule, on September 14, 2015, implementing Section 825 of the National Defense Authorization Act for Fiscal Year 2015 to allow the federal government to issue sole source awards to Women-Owned Small Businesses (“WOSBs”) and Economically Disadvantaged Women-Owned Small Businesses (“EDWOSBs”). WOSBs and EDWOSBs in the automotive industry should take advantage of these new contracting opportunities reserved for these types of businesses, which will take effect on October 14, 2015. What is a Women-Owned Small Business?For federal government procurement purposes, a women-owned small business is a concern: (1) that is at least 51 percent owned by one or more women; or, in the case of any publicly owned business, at least 51 percent of the voting stock is unconditionally and directly owned by one or more women; and (2) whose management and daily business operations are controlled by one or more … [Read more...] about New Opportunities for Women-Owned Small Businesses

As the UK and the European Union (EU) move forward with negotiations of their post-Brexit relationship, there are uncertain consequences, challenges and opportunities facing business with ties to the UK.The exact date and time of departure is still uncertain because it depends upon when the UK Government triggers the exit procedure under Article 50 of the Lisbon Treaty. Now that a new Prime Minister has been elected, this process will soon begin.  However, there will still be a two-year disengagement period during which current EU legislation will apply.We offer the below comprehensive perspectives regarding Brexit implications for international business in the following areas:Trade with the UKData TransfersIntellectual PropertyInvestment ManagementEnvironment & EnergyInsuranceTrade with the UK When contemplating the UK’s future trade relationships with its trading partners, there is perhaps some comfort in knowing that for the foreseeable future, EU laws take … [Read more...] about Early Post-Brexit Considerations for International Business

J. Sagar Associates (JSA) is advising Sistema Shyam Teleservices Limited (SSTL) and its majority shareholder Sistema JSFC, a leading Russian conglomerate (Sistema) in connection with the demerger of SSTL’s telecom wireless business operated under MTS brand to Reliance Communications Limited (RCOM) in exchange for 10% of the issued and paid up capital of RCOM. The Parties entered into definitive agreements in this regard on November 2, 2015.This deal is the first major consolidation in the Telecom sector since 2009, and is the first announced merger deal after the Department of Telecommunications came out with its merger guidelines in February 2014.Some of the salient aspects of the deal are: RCOM will acquire around 9 million subscribers and annual revenue of around Rs. 1.5 million; RCOM will acquire spectrum owned by SSTL in the 800-850 MHz band which is efficient for launching 4G LTE services; In consideration for the transfer, RCOM will issue … [Read more...] about JSA assists Sistema Shyam Teleservices Limited in demerger of SSTL’s wireless business to Reliance Communications Limited

New York City retail and food service unions got a boost recently when Mayor Bill de Blasio signed an Executive Order titled “Labor Peace for Retail Establishments at City Development Projects.” Subject to some thresholds for the size and type of project and the amount of “Financial Assistance” received for a “City Development Project,” Executive Order No. 19 mandates that developers agree to a “labor peace clause.” In turn, the labor peace clause will compel the developer to require certain large retail and food service tenants to enter into a “Labor Peace Agreement” prohibiting their opposition to a “Labor Organization” that seeks to represent their employees. A.     Applicability to Certain Financial Assistance Recipients and Certain TenantsThe Executive Order applies to developers of a City Development Project having a “Project Agreement” with a “City Economic Development … [Read more...] about Union Organizing at Retail and Food Service Businesses Gets Boost from New York City “Labor Peace” Executive Order