Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeIn a purchase of assets of a company in liquidation one may also acquire right to dispute patents
Commercial, Banking and Financial
Dispute Resolution
A company filed an objection to a patent application filed by Teva, but entered into liquidation proceedings, within which all its assets and rights were purchased. Teva opposed the continuance of the objection proceedings contending that, unlike a right of claim, a right to object to a patent in not alienable. The Deputy Patent Registrar […]
Obligation to detail grounds for termination of employment as part of a hearing
Labor Law and Immigration
Many of our clients, who are considering termination of a certain employee, often ask whether, and to what extent, one need specify the grounds for dismissal as part of a summons to a pre-termination hearing and at the hearing itself. Is it necessary to specify the full grounds, even if such might offend the employee? […]
Globes: Australia discovered ElSight: 310% rise in 4 months
International Transactions and Dispute Resolution
High-Tech and Technology
Business, Corporate and Joint Ventures
In an article published in Globes, reporter Shiri Haviv Waldhorn, about the success of ElSight, which undergone an IPO in June 2017 by the Israeli law firm Afik & Co
An arbitration clause has a “life of its own” independent from other clauses of the contract and will apply also when a contract is terminated
Business, Corporate and Joint Ventures
Dispute Resolution
High-Tech and Technology
An investor invested hundreds of thousands in an R&D joint venture for developing a high-tech product where the investment agreement set that a company will be incorporated in which the parties will equally hold the shares and if one of the parties will wish to withdraw the joint venture it will offer to purchase the […]
Payment to an employee for non-competition upon retirement will almost always be taxes as income and not as capital gains
Taxation and Government Incentives and Funding
Business, Corporate and Joint Ventures
Dispute Resolution
A CEO of a credit cards company retired and was entitled under the employment agreement to a generous sum against an obligation not to work in the field for 6 months. The Tax Authority refused to recognize such payment as capital gains and taxed it as ordinary work income. The Court held that there is […]
Only a payment that is not contingent is part of the base salary for severance pay and pension
Labor Law and Immigration
Dispute Resolution
An employee worked for three years until terminated. The employee’s salary included a personal premium calculated based on a percentage of sales. The employer refused to pay severance pay and pension on the premium. The Labor Court held that one need examines whether the payment made to the employee was contingent so that if the […]
Non-receipt of building management agreement for review in a commercial lease may indicate that no binding agreement was made
Dispute Resolution
Real Estate
A lessor contended that prospective lessees of an office suddenly withdrew from the agreement after an oral commitment was made. The Court rejected the claim and held that when it comes to an oral agreement it is necessary to prove with sufficient evidence that all the elements of a binding contract exist, such as intent […]
Company manager who signed a general guarantee to debts to a car leasing company is liable even if signed for a specific lease
Commercial, Banking and Financial
Dispute Resolution
A car leasing company leased cars to a limited liability company and thus had the manager of the company on a general personal guarantee and even took from him details of his credit card as a security. The manager gave the details of the company credit card and in his details registered the details of […]
