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June 1, 2022

Business Law and Labor Law Updates

The topics below may be relevant to your daily activities, especially those which involve business law, labor law, and other legal areas of your business.


WHEN DOES STOCK CORPORATION BECOME NON-STOCK?


In answering the query, we must first know what is meant by a Corporation. Under Batas Pambansa Blg. 68 or otherwise known as the Corporation Code of the Philippines (Code henceforth), a corporation is defined as an artificial being created by operation of law, having the right of succession and the powers, attributes and properties expressly authorized by law or incident to its existence.

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INFRINGEMENTS vs. UNFAIR COMPETITION


Under Republic Act No. 8293 or otherwise known as “Intellectual Property Code of the Philippines”, there are three possible infringements. They are copyright infringement, trademark infringement, or patent infringement. On the other hand, Republic Act No. 166 deals with unfair competition. Let us know the difference of the four (Copyright infringement, trademark infringement, patent infringement and unfair competition).

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COUNT YOUR BLESSINGS: COMPUTE YOUR HOLIDAY PAY!


There are two types of public holidays in the Philippines: Regular and Special Non-Working holidays.

Regular holidays are those that usually have a fixed date. Special Non – Working Holidays, on the other hand, are more flexible. They are either enacted by Congress, or declared by the President.

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GRANDFATHER RULE: WHEN THE 60-40 FILIPINO – FOREIGN EQUITY IS IN DOUBT


The State may directly undertake such activities, or it may enter into co-production, joint venture, or production-sharing agreements with Filipino citizens, or corporations or associations at least sixty per centum of whose capital is owned by such citizens.

. . . Grandfather Rule – Nationality is attributed to the percentage of equity in the corporation used in nationalized or partly nationalized area.

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