Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeAn organ of a company that intentionally damages legal proceedings will be personally liable for compensation to the harmed party
Business, Corporate and Joint Ventures
Dispute Resolution
A person lent money to a company as part of a business venture related to a commercial center and against its obligation to repay the funds with a return on the investment and against a lien on the property. When the company went bankrupt, the creditor tried to realize the lien, but the company fought […]
Globes: Raising cash: Australia-owned Weebit Nano and Securities Mastters raise capital
Capital Markets and Stock Exchange Regulations
Publication in Globes newspaper, reporter Irit Haviv-Waldhorn on off-exchange raising by the ASX traded Security Matras company, which is accompanied by the Afik & Co. office.
Absent a legitimate interest employees’ freedom of occupation cannot be limited by a non-compete clauses
Labor Law and Immigration
Dispute Resolution
Several employees in a consulting company, resigned and established a competing business. At the same time, several clients chose to transfer their business to the competing business in contradiction to the non-compete clauses in the employment agreements. The Labor Court held that there is no legitimate interest justifying limitations on the employee’s freedom of occupation […]
Unlawful use of a business trademark may establish entitlement to business accounts
Commercial, Banking and Financial
Dispute Resolution
Copyright, Trademarks Media and Artists
Two business partners in a business for the production and sale of food products and especially Hummus have separated and each set up his own business. During the joint activity a trademark was registered in the name of one of them and he also continued to use the business name after the separation. The other […]
A middleman is not entitled to a commission in a real estate transaction in lack of a brokerage agreement or a realtor license
Real Estate
Dispute Resolution
Middlemen assisted a company in acquiring rights in real estate and demanded payment against it even though at the time they did not hold a valid real estate brokerage license and there was no written brokerage agreement. The Court held that the middlemen are not entitled to brokerage fees. A person contending entitlement to a […]
Use in bad faith of a board member’s veto right may result in a denial of such right
Dispute Resolution
As part of an investment agreement in a company, it was determined that the CEO will have a veto right as to decisions regarding the employment and dismissal of management, subject to consultation with the other board members in good faith. At a dispute regarding the CEO’s performance, a search committee was nominated by the […]
When the agreement determines ownership of the rights in the event of termination it should be honored and remedies should be limited to financial compensation
Two companies entered into agreements for the development and distribution of a product, in which it was determined that one company will finance and the other develop and all rights in the developed product will be owned by the developing company. After the agreements were terminated, the funding company sought to register a patent. The […]
On restrictive arrangements and criminal liability of corporate officers
Competition
Business, Corporate and Joint Ventures
An article on the personal criminal liability of officers o restrictive trade arrangement offences by the company and the manner in which it may be avoided.
