Latin America

Brazil: Brazil’s Favorable Foreign Investment Policies Attract Business

Brazilian President Lula da Silva is taking an active role in establishing Brazil as an agent in the international arena. He appointed former worldwide president of BankBoston, Henrique Meirelles, as Minister of the Federal Reserve. Lula has publicly stated his commitment to respect contracts and increase protection of foreign investments. He also intends to increase the Brazilian presence in the global market by increasing imports and exports. Brazilian newspapers report that Brazilian GDP is the highest it has been in the past eight years. Click here for more information.

Mexico: Purchasing Real Property in Mexico

Purchasing a villa, lot, or condo in Mexico just got easier. Mexico’s federal government has liberalized ownership provisions for real property located in an area known as the “Restricted Zone” which was formerly constitutionally protected from foreign nationals wishing to acquire property. Under the Mexican Foreign Investment Law, foreign nationals seeking to acquire property for residential, commercial, or tourist purposes now enjoy greater legal freedom. Click here for more information.

Pharmaceuticals: Intellectual Property Protection in Israel

The on-going dispute between the U.S. and Israel over intellectual property protection of pharmaceuticals has recently turned a corner. For years, the Office of the U.S. Trade Representative (USTR) which defends U.S. foreign trade interests, has criticized Israel’s lack of intellectual property protection for branded drug manufacturers. Israel recently proposed legislation that will increase the protection of intellectual property in pharmaceuticals. Click here for more information.

Foreign Data Privacy Laws Challenge U.S. Exporters

Data privacy laws differ across nations, presenting a compliance challenge to any organization, with potentially severe penalties if ignored. For organizations in the U.S., the most troubling aspect of privacy laws in other countries is the prohibition on exporting data to countries with less-complete data protection laws. The U.S. Department of Commerce has, however, negotiated a safe harbor framework with the EU, permitting U.S. organizations to create an internal system that complies with EU data protection regulations. By “self-certifying” in this way, an organization can transfer personal data to the U.S. that would otherwise violate EU laws. Click here for more information.

Congress Passes Sweeping International Corporate Tax Bill

On October 11, 2004, Congress passed a bill intended to end a trade war with Europe while overhauling the way multinationals are taxed on foreign earnings. The bill repeals U.S. export tax breaks that were ruled illegal subsidies by the WTO. President Bush signed this bill into effect in late October 2004 and the trade sanctions inflicted upon U.S. exports—1600 farm goods and manufactured products—have subsequently been lifted. Click here for more information.

Intellectual Property Isn’t Just for High Tech Companies

Kirton & McConkie’s Intellectual Property Practice Section defines the components of intellectual property—patents, copyrights, trademarks, trade secrets, trade names, Internet, technology licensing, etc.—and the need for all entities, both great and small, to protect each of these components. Click here for more information.