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.
Business Law and Labor Law Updates
Suppressing the Predators in Business: A Brief Discussion on the Philippine Competition Act of 2015 (Republic Act No. 10667)
The enactment of Republic Act No. 10667 (RA 10667) or the Philippine Competition Act of 2015 (PCA) is a breakthrough legislation in the Philippines as it is the only law primarily focused on competition policies which are matters that are hardly discussed in any jurisprudence. Competition laws are anti-trust statutes developed to protect consumers from predatory business practices. These laws are enforced to adapt and evolve along with the market, vigilantly guard against outward monopolies and prevent disruptions to the flow of competition. Such laws are applied to a wide range of questionable business activities, including but not limited to market allocation, bid rigging, price fixing, and monopolies.
Salient Features of Republic Act No. 11199, amending Republic Act No. 8282, also known as the New Social Security Law of 2018
The Social Security System (SSS) of the Philippines is established to promote the social welfare of the people as well as to protect them against the hazards of disability, sickness, maternity, old age, death and other contingencies in life by helping them in their financial needs.
Saving a Corporation through Corporate Rehabilitation Proceedings
One of the established laws on business in the Philippines define a corporation 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 incidental to its existence (Section 2 of Republic Act No. 11232). Relative to the definition of a corporation is the implied reliance of our business law to the Theory of Concession. Concession theory
(Sundiang & Aquino, Reviewer on Commercial Law, 2017 Edition, Page 182, REX Publishing Company) is a principle in the creation of corporations, under which a corporation is an artificial creature without any existence until it has received the imprimatur of the State acting according to law, through the Securities and Exchange Commission (SEC). In other words, the life of the corporation is a concession made by the State. In view thereof, the rules and procedures for the redemption of the life of a corporation is also governed by the State through its established laws.
“No Strike, No Lockout” Clause
The Philippine Constitution recognizes strike and lockout as fundamental rights of employees and employers respectively (Article 13, Section 3 of the 1987 Constitution). The right to strike is essential for the protection of employee’s rights under the Constitution and other labor laws. Right to lockout, on the other hand, bears the same importance on the part of the employer inasmuch as it serves as a protection for the unscrupulous acts of its employees. The conduct of a valid strike or lockout is considered as an effective exercise of one’s freedom of speech and of expression (Article 3, Section 4 of the 1987 Constitution).
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