Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeRunning an unlicensed forex platform might lead to limitation on officers and severe fines
Commercial, Banking and Financial
Dispute Resolution
Business, Corporate and Joint Ventures
A forex trading company continued to run its trading platform even after the entry into force of the amendment to the Israeli Securities Act and the Israeli Securities Regulations requiring a license for trading platform. The company filed an application for a license but continued to manage the trade room without a license and with […]
Royalties to holder of trademark will be part of the price of the product for customs purposes if the owner could have prevented the importation into Israel
Taxation and Government Incentives and Funding
Dispute Resolution
International Transactions and Dispute Resolution
Importers of fashion products paid consideration for manufacturing of the products and royalties to owners of the trademarks used in the products. The Tax Authority demanded customs payment for the full amount – consideration to the manufacturer of the products and royalties. The Supreme Court held that customs are paid on the value of the […]
Fair Use or Fair Mis-use in Indian law
International Transactions and Dispute Resolution
Commercial, Banking and Financial
Copyright, Trademarks Media and Artists
The recent landmark decision delivered in the case of The Chancellor, Masters & Scholars of the University of Oxford & Ors. Versus Ratneshwari Photocopy Services & Ant\, by the Hon’ble Delhi High Court, has amplified the meaning of ‘Fair Use’ under Section 52 of the Copyright Act, 1957 (Act) in the interest of public at […]
Pauschale (Turn Key) Agreements
Real Estate
Commercial, Banking and Financial
In the relationship between a contractor and a client, both parties are undertake a series of risks as part of the engagement, but try to minimize such risks as much as possible. Generally, the client wishes to enter into a Pauschale (turn key) agreement and the contractor wishes to work on the basis of measurement. […]
An exclusivity agreement requiring a duel station to purchase only from one supplier is a restrictive trade arrangement and the agreement is terminated
Dispute Resolution
Competition
Real Estate
An owner of a fueling station claimed the termination of an agreement dated 1973 with a fuel supplier under which against financing of the construction of the station the station must purchase fuel products exclusively from the fuel supplier for 49 years in a manner that enables the fuel supplier to arbitrarily set the price […]
Employer must notify employee about tax deduction that was not deducted originally from salary
Labor Law and Immigration
Dispute Resolution
An asylum seeker filed a claim for social benefits upon termination of employment. The employee also raised a contention that the employer set-off from his salary, without his knowledge, debts to the Tax Authority and due to failure of the employer to inform the employee of such set-off the employee should not bear the debt. […]
Do You Need the Services of a Family Office?
Commercial, Banking and Financial
Do You Need the Services of a Family Office? Alon Tal, Managing Partner Alpha-TAO, Multi Family Office www.alpha-tao.com Managing family wealth successfully is a complex task. The mission of a family wealth manager is to execute with professionalism and care the assignment of protecting and growing a family’s assets for future generations. Since the 19th […]
When an employee is a partner in a certain project and is not entitled to salary therein a clear distinction need be in place
Business, Corporate and Joint Ventures
Labor Law and Immigration
Dispute Resolution
An employee filed a claim for payment of full rights due to disconnection of employer-employee relationship. The employer argued that it was agreed that the employee will be a partner in a joint venture of the employer and the employee and for activity will not be an employee but a partner sharing profits and losses. […]
A transaction leaving the rights of the common property attached to an apartment with the seller is invalid
Dispute Resolution
Real Estate
An apartment owner claimed that when he sold his apartment the transaction did not include the apartment’s roof and the building rights attached to it. The Court held that pursuant to the Israeli Land Law a transfer of a certain part of the common property rights attached to a particular apartment may be possible if […]
