#Business Corporate Lawyers

[arohanalegal]

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[pinkacademiaprincess]

fall lookbook: business casual🍂💼🎀👩‍💻

if you can't tell, my business casual style icons include lorelai gilmore, rachel zane, elle greenaway, rachel green, etc. 💌

[girderednerve]

sorry for my persistent belief that economists can't write. i am not wrong but it's definitely meanspirited of me. anyway you can immediately tell if a paper is written by a historian of economics vs. an economist with historical interests, on account of: the prose is So bad

[lawbyrhys]

The CrowdStrike Outage Impact on Law Firms

In case you weren't aware, late last night into early this morning, CrowdStrike, a cybersecurity firm, sent out an update to Microsoft software which led to a global outage due to patch issues within their Falcon virus scanner platform. Many law firms around the world employ this software, with the relationship only growing since the partnership with Factor to assist in higher-stakes transactional legal work.

How did the outage actually impact the legal world at large, though? Let's break it down.

Lawyers and law firms were generally unaffected beyoind small-scale inconvenience—at least in the United States. For example, the New York Unified Court System was impacted, as were law publications like Law.com. As stated above, most law firms, courts, and tribunals nationwide were minority impacted or felt no impact whatsoever, as is the case with the Bar Council and sets of chambers. The extent of damages otherwise was limited to temporary disruption to operation, website glitches, and indirect impact on suppliers. UK law firms, though, experienced the bulk of the chaos as it concerns bank communications and payment transfer issues, particularly with staff who aren't member-facing. These issues also appear to have been mostly resolved quickly.

Internationally, impacted firms are using the outage as an opportunity to affirm contingency plans, and similar business continuing policies are in place, as well as

Alex Brown, the head of digital business for international law firm Simmons & Simmons, wrote the following on his LinkedIn: “As we rely more on digital infrastructure, ensuring robust and resilient systems is becoming paramount for companies and society. This event will likely draw increased regulatory and government attention to safeguarding our digital operations.”

It's obvious the outage has had a massively felt impact, but will anybody face consequences?

CloudStrike Holdings, Inc. could face related legal ramifications, as Pomerantz LLP is investigating whether various employees at CrowdStrike were engaged in illegal business practices, such as securities fraud, on behalf of CrowdStrike's investors and interested parties.

Needless to say, it's a technological shit show.

While this post is about the impacts on the legal world, CrowdStrike did release a statement on the situation that I will share here.

“We’re deeply sorry for the impact that we’ve caused to customers, travellers, and anyone affected by this, including our companies." - CrowdStrike CEO George Kurtz via NBC reports.

Was anybody impacted by the CrowdStrike Windows outage last night? Personally, I was not. I was working late and was on a midnight call with a client when I heard about it, but since I was using my work iPhone and wasn't actively accessing any systems at the time; I only found out last night from a friend of mine who works bank security on the East Coast. That said, though, when I walked into work this morning, conversation was ablaze on the topic; although none of us reall had any tangible harm done, it was still an interesting discussion over our morning coffee.

What about you, though? Were you affected?

[chiangmailawyer]

Foreign Business Act

The Foreign Business Act (FBA) B.E. 2542 (1999) regulates and restricts foreign participation in certain business sectors in Thailand. The purpose of the FBA is to protect local businesses while encouraging foreign investment in targeted areas that benefit the country's economy. Foreign companies must understand the restrictions and licensing requirements outlined in this act to legally operate in Thailand.

1. Structure of the Foreign Business Act

The FBA classifies business activities into three categories (Annexes), each with varying degrees of restrictions:

1.1 Annex 1: Prohibited Activities

Reserved exclusively for Thai nationals, these activities are off-limits to foreigners due to their cultural, historical, or national importance. Foreigners cannot engage in these businesses under any circumstances.

Examples:

Newspaper and media businesses

Rice farming, livestock farming, and forestry

Trading and auctioning of Thai antiques

1.2 Annex 2: Restricted Activities (Subject to Cabinet Approval)

Foreigners can participate in these activities with special approval from the Thai Cabinet due to their potential impact on national security or public welfare.

Examples:

Production of firearms and military equipment

Domestic transportation

Mining and certain types of manufacturing

1.3 Annex 3: Restricted Activities (Requiring a Foreign Business License)

Foreigners may engage in these activities but must first obtain a Foreign Business License (FBL) from the Ministry of Commerce.

Examples:

Retail and wholesale trade

Hotels (excluding hotel management services)

Construction (with certain exceptions)

Legal, accounting, and architecture services

2. Definition of a Foreign Business

A business is considered foreign if it meets any of the following criteria:

It is registered outside Thailand.

More than 49% of its shares are owned by foreign nationals.

Companies with Thai majority ownership (51%) are considered Thai entities and are not subject to FBA restrictions.

3. Obtaining a Foreign Business License (FBL)

3.1 Application Process

Document Submission: Submit the necessary documents, including the business plan, company details, and financial projections, to the Department of Business Development (DBD).

Agency Review: The DBD will evaluate the application based on the business’s contribution to the economy, local employment, and technology transfer.

Approval or Rejection: The review process takes 60–90 days. Approval is granted if the business provides significant benefits to Thailand.

3.2 Criteria for Approval

Economic Contribution: Must provide clear benefits to Thailand's economy.

Local Employment: Businesses that create job opportunities for Thai citizens are favored.

Technology Transfer: Companies introducing new technology have a better chance of approval.

4. Exceptions and Special Cases

4.1 U.S.-Thailand Treaty of Amity

Under this treaty, U.S. citizens and companies can own up to 100% of businesses in most sectors, except those restricted under Annex 1 (e.g., land ownership, media).

4.2 Board of Investment (BOI) Promotion

BOI-promoted companies are exempt from certain FBA restrictions and enjoy tax incentives and easier approval processes.

4.3 Eastern Economic Corridor (EEC)

Businesses investing in high-tech industries within the Eastern Economic Corridor receive additional incentives and reduced restrictions.

5. Penalties for Non-Compliance

Operating a business without the required license can result in:

Fines up to 1 million THB

Imprisonment for up to 3 years

Business closure and forfeiture of profits

6. Recent Developments and Future Trends

Thailand continues to review its foreign business regulations to balance economic development and local business protection. There is growing discussion on liberalizing certain sectors such as technology, e-commerce, and renewable energy to attract foreign investment.

7. Conclusion

The Foreign Business Act is a cornerstone of Thailand’s business environment, regulating foreign participation in key sectors. While the FBA imposes restrictions, it also provides clear pathways for legal operation through licenses, BOI promotion, and bilateral agreements. Foreign investors must conduct thorough research, engage local legal experts, and comply with the FBA’s requirements to operate successfully in Thailand.

[thailandlawyerss]

Thai Business Partnerships

Thailand, a Southeast Asian gem with a robust economy and strategic geographical location, has emerged as an attractive destination for international businesses seeking partnerships. The country's favorable business climate, coupled with a skilled workforce and a growing consumer market, makes it an ideal partner for businesses looking to expand their operations in the region.

Understanding Thai Business Culture

Before delving into the specifics of forming a partnership, it's crucial to understand Thailand's unique business culture. Key aspects to consider include:

Hierarchy: Thai society is hierarchical, and businesses often follow a similar structure. Respecting seniority and authority is essential.

Relationships: Building strong personal relationships is paramount in Thai business. Trust and rapport are highly valued.

Patience and Politeness: Thai people are known for their patience and politeness. Avoid rushing or being overly assertive.

Non-verbal Communication: Body language and facial expressions are significant in Thai culture. Maintain eye contact, but avoid aggressive gestures.

Types of Business Partnerships in Thailand

Thailand offers various legal structures for business partnerships, each with its own advantages and disadvantages. Here are the primary types:

Ordinary Partnership:

Key Features:

Two or more partners share unlimited liability.

Simple to establish, with minimal legal formalities.

Suitable for small-scale partnerships.

Limited Partnership:

Key Features:

Two types of partners: general partners with unlimited liability and limited partners with limited liability.

More complex to establish, requiring registration.

Suitable for larger partnerships with diverse investor interests.

Joint Venture:

Key Features:

A contractual agreement between two or more parties to collaborate on a specific project or business venture.

Flexible structure, allowing for tailored arrangements.

Often used for large-scale projects or partnerships with foreign companies.

Key Considerations for Successful Partnerships

Due Diligence: Conduct thorough research on potential partners, including their financial health, reputation, and business practices.

Clear Partnership Agreement: A well-drafted partnership agreement is essential to outline the terms and conditions, including ownership structure, profit-sharing, decision-making processes, and dispute resolution mechanisms.

Cultural Sensitivity: Show respect for Thai culture and customs. Be patient, polite, and mindful of local etiquette.

Legal Counsel: Consult with experienced legal professionals to ensure compliance with Thai laws and regulations.

Effective Communication: Maintain open and honest communication with your Thai partners. Regular meetings and clear documentation can help prevent misunderstandings.

Building Trust: Trust is the foundation of any successful partnership. Be reliable, transparent, and committed to the partnership's goals.

By carefully considering these factors and seeking expert advice, businesses can establish thriving partnerships in Thailand and unlock the potential of this dynamic market.

[lloydlawcollege]

Understand the Role of Corporate Lawyers

Corporate lawyers are essential to the business world, handling a range of legal tasks such as contract drafting, mergers and acquisitions, corporate governance, and regulatory compliance. This blog delves into their diverse roles and responsibilities, providing insights into how they facilitate smooth business operations and safeguard companies' legal interests. Discover the critical functions and challenges faced by corporate lawyers in ensuring legal protection and operational efficiency in the corporate sector.

[bangkoksolicitor]

Foreign Business License

Thailand, with its strategic location, burgeoning economy, and favorable business climate, has become a popular destination for foreign investors. To establish a business in the Land of Smiles, obtaining a foreign business license is essential. This article will provide a comprehensive overview of the process and key considerations.

Types of Foreign Business Licenses

The type of business license required depends on the nature of your business operations. Here are the most common types:

Limited Company (LTD): This is the most popular option for foreign investors, offering limited liability and a corporate structure.

Branch Office: A branch office is an extension of a foreign parent company, operating under its name and subject to its control.

Representative Office: A representative office is primarily for market research and liaison activities, without engaging in direct business transactions.

Obtaining a Foreign Business License

The process for obtaining a foreign business license in Thailand involves several steps:

Company Name Registration: Choose a unique and available company name that complies with Thai regulations.

Document Submission: Prepare and submit the necessary documents, including company registration forms, passports of directors, and proof of address.

Paid-up Capital: Deposit the required minimum paid-up capital into a Thai bank account. The amount varies depending on the type of business and business plan.

Office Registration: Register your business office with the Department of Business Development (DBD).

Tax Registration: Register your business for taxes with the Revenue Department.

Work Permits: Obtain work permits for foreign employees working in Thailand.

Important Considerations

Business Plan: A well-structured business plan outlining your company's objectives, operations, and financial projections is crucial.

Local Partner: In certain industries or sectors, a local partner may be required.

Regulations: Familiarize yourself with Thai business laws and regulations, including labor laws, environmental regulations, and import/export rules.

Visa Requirements: Ensure that you and your foreign employees have the appropriate visas to work and reside in Thailand.

Professional Assistance: Consider hiring a local lawyer or business consultant to guide you through the process and navigate Thai bureaucracy.

Conclusion

Obtaining a foreign business license in Thailand can be a rewarding endeavor. By understanding the requirements, preparing necessary documents, and seeking professional assistance, you can successfully establish your business in this dynamic and growing economy.

[attorneyssphuket]

Branch Office in Thailand

Thailand, a Southeast Asian economic powerhouse, offers numerous opportunities for foreign businesses. Setting up a branch office is often a strategic choice for companies looking to expand their operations into the Thai market. This article provides a comprehensive overview of the process, key considerations, and benefits of establishing a branch office in Thailand.

Understanding Branch Offices in Thailand

A branch office is a legal entity that operates as an extension of its parent company. Unlike a subsidiary, a branch office does not have separate legal personality. This means that the parent company is directly responsible for the branch's activities and liabilities.

Benefits of Setting Up a Branch Office in Thailand

Reduced Entry Costs: Establishing a branch office is generally less expensive than setting up a subsidiary, making it a more attractive option for smaller businesses or those just entering the Thai market.

Simplified Operations: Branch offices can benefit from streamlined administrative processes and easier management due to their direct connection to the parent company.

Tax Efficiency: Thailand offers various tax incentives and exemptions for foreign businesses, which can make operating a branch office financially advantageous.

Market Access: A branch office provides a physical presence in Thailand, allowing for better market penetration and customer engagement.

Key Considerations for Setting Up a Branch Office

Regulatory Requirements: Foreign businesses must obtain necessary permits and licenses from Thai authorities. The specific requirements may vary depending on the nature of the business and its location.

Labor Laws: Thailand has specific labor laws that foreign businesses must adhere to, including minimum wage standards, working hours, and employee benefits.

Tax Implications: Understanding the Thai tax system is crucial for ensuring compliance and maximizing tax benefits.

Cultural Differences: Adapting to Thai business culture and customs can be essential for successful operations.

Currency Exchange: Fluctuations in exchange rates can impact profitability. It's important to have strategies in place to manage currency risk.

The Process of Setting Up a Branch Office

Conduct Market Research: Assess the market potential and identify the most suitable location for your branch office.

Obtain Necessary Permits: Apply for the required permits and licenses from relevant government agencies.

Register the Branch Office: Register your branch office with the Department of Business Development (DBD).

Open a Corporate Bank Account: Establish a bank account for your branch office's financial transactions.

Hire Local Staff: Recruit qualified local employees to manage your branch office's operations.

Start Operations: Once all necessary preparations are complete, your branch office can commence its activities.

By carefully considering the factors outlined in this article, foreign businesses can make informed decisions about setting up a branch office in Thailand and reap the benefits of expanding their operations into this dynamic market.

[littleplantfreak]

also i was thinking about it yesterday and I think Sako would make a killer lawyer

[rotzaprachim]

the thing about Hawai’i politics is that. You absolutely need to criticize the local government. But you also need to stand the economic and political politics of living in a place where the local government doesn’t have an iota of the power of the mega corporations like Hilton and Sheraton that run mega resorts here, nor the billionaires like mark Zuckerberg, Larry Ellison, or Jeff bezos that run second homes here or have quasi-feudal estates or exert far far more power than the relatively progressive county and state governments

like. You have to clock what it is that a man worth over 100 billion dollars purchased 98% of an island. What that’s like. What power does a city councilman who represents that island in a council have over a man worth over 100 billion who both owns the land people live on AND the hotels they work at

[comlawyers]

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[ilgalantuomo]

All of this said, remember that economic metrics (including price of goods at market) often are bundles (aggregates) of all economics activity that fits certain criteria. So, in other words, a change in one area will affect a portion or sector of the economy. But also, it affects the whole (even if slight). And this is on multiple levels economically, due to multiple companies all trying to operate and dominate over each other in all industries. This is further amplified by tiered types of products (economy, value sized, premium, luxury, quick service vs fine dining, etc.)

Example: food prices have risen generally. Like @weshallbekind said, certain foods increase some don't. Gas and certain new cars have higher prices, some haven't. Of course something like gas, however, is an everyday good, as are many food items. These essential items having increased prices is a component of inflation (as are interest rates, unemployment, speculation booms, currency changes, etc. different rant though). Again, aggregates, so potentially many factors. But aggregates don't reflect capitalism's main goal. Instead these aggregates are used as tools to accomplish said goal.

Keep in mind, however, that this is why capitalism like ours inherently doesn't work. It seeks to minimize costs (see also: not paying for enough workers, vertical integration, flip flopping between self check out and cashiers, moving/outsourcing, and raising prices [despite having massive economies of scale and the ability to negotiate]) for the benefit of profit. Not progress and profit, not progress, not satisfying the customers needs and wants; profit.

What does this mean then? It means profit over everything, while also creating desires in you (via marketing) to buy things you don't really need (mostly) or into which you invest your personality, time, or data. But mostly your money. Now, of course, everyone needs food, shelter, miscellaneous tools and safeguards, etc. Now those things are regulated to some degree, but nonetheless goods sold and marketed to you to profit.

Therefore, anything to make profit and make you buy it regularly could at least be attempted. Pay undocumented citizens pennies on the dollar so you don't have to give them benefits, minimum wage, or rights, check. Purposefully not include the charger and cable needed to use the phone, check. Use surge pricing to maximize profit and stress the existing infrastructure (human or otherwise), check. Overcharge you for literally the same exact product by calling it something fancy and putting their label on it, check.

And sure, of course costs increase. Of course paying people more means higher costs, especially if "times are tough". You know what takes more priority, usually, though? Executive compensation ratios, cash reserves, market dominance, mergers and acquisitions, vertical integration, lobbying, tax benefits.

Once again, let me remind you: metrics are aggregates, statistics, and computations based on demand, supply, input costs, interest rates, taxes, preferences, laws, availability of resources, currency exchange rates, speculation booms, etc. All these metrics and their formulas, however, are used (by corporations) to find their way to massive profits. By using these metrics in manipulating the market and their business practices, they're working to profit; they're striving for greater capital than the next company. Always.

[lawbyrhys]

LAW BY RHYS - MY BLOG INTRODUCTION

Hey there! Welcome to Law By Rhys. My name is Rhys, and I am a practicing corporate attorney based in Southern California. While I am largely a trial attorney with specialized interest in the areas of corporate and business law, I have immense interest in many other areas of law as well, and will discuss them here; sharing law humor, hot takes and my opinions on politics, current events and maybe even casually get into some follower-submitted hypothetical cases. All that to say, I love to talk all things law! A quick disclaimer, though; this is not legal advice. I am not your personal attorney. All followers, readers, and viewers of this blog should contact their attorney to obtain advice with respect to any particular legal matter. There is no attorney-client relationship between us, and only your individual attorney can provide assurances that the information contained herein and your interpretation of it is applicable or appropriate to your particular situation.

[chiangmailawyer]

Business Partnerships in Thailand

Business partnerships in Thailand are governed by the Civil and Commercial Code (CCC) and provide flexibility for local and foreign entrepreneurs. Partnerships are an attractive structure for small to medium enterprises (SMEs), offering ease of establishment and scalability. However, legal and operational nuances make understanding partnership types and regulations essential.

1. Types of Business Partnerships

1.1 Ordinary Partnerships

Definition:

An unregistered arrangement where partners share unlimited liability for debts.

Key Features:

No separate legal entity.

Informal and easy to establish.

Usage:

Ideal for short-term or informal business ventures.

1.2 Registered Ordinary Partnerships

Definition:

A formally registered partnership recognized as a separate legal entity.

Key Features:

Enhanced credibility for engaging with financial institutions and government entities.

Partners retain unlimited liability.

Usage:

Suitable for partnerships needing formal recognition while maintaining simplicity.

1.3 Limited Partnerships

Definition:

A hybrid structure where at least one partner has unlimited liability (general partner) and others have liability limited to their investment (limited partners).

Key Features:

Legal personality upon registration.

Limited partners cannot manage daily operations.

Usage:

Common for partnerships seeking external investors or managing risk.

2. Formation and Legal Requirements

Partnership Agreement:

While not mandatory for ordinary partnerships, a written agreement is recommended to outline roles, profit sharing, and dispute resolution.

Registration:

Required for registered partnerships and limited partnerships at the Department of Business Development (DBD).

Documents include identification of partners, capital structure, and business objectives.

Capital Contribution:

Partners may contribute cash, property, or services, and their obligations should be detailed in the agreement.

3. Taxation and Regulatory Compliance

Ordinary Partnerships:

Taxed at the partner level unless registered.

Registered Partnerships:

Subject to corporate income tax and required to file financial statements annually.

Employee Regulations:

Partnerships hiring employees must comply with Thai labor laws, including minimum wage and social security contributions.

4. Foreign Participation in Partnerships

Restrictions:

The Foreign Business Act (FBA) limits foreign participation in certain sectors unless approved.

BOI Promotion:

Partnerships may apply for incentives from the Board of Investment (BOI) to bypass some restrictions.

Nominee Structures:

Using Thai nominees for ownership is illegal; foreign partners must ensure compliance with regulations.

5. Advantages of Partnerships

Ease of Formation:

Simpler and faster setup compared to corporations.

Flexibility in Management:

Allows partners to define roles and responsibilities based on skills and contributions.

Lower Operational Costs:

Partnerships typically incur fewer regulatory costs than larger corporate structures.

6. Risks and Challenges

Unlimited Liability:

General partners in ordinary and limited partnerships are personally liable for debts.

Potential Disputes:

Disagreements over profit distribution or decision-making can arise without a clear agreement.

Foreign Ownership Restrictions:

Non-Thai partners face legal and operational challenges in restricted sectors.

Conclusion

Thai business partnerships offer a practical and flexible framework for entrepreneurs. By understanding the legal distinctions, tax implications, and foreign ownership regulations, businesses can leverage partnerships for growth and collaboration. Legal and financial advice is essential to ensure compliance and secure mutually beneficial agreements.