Alternative Dispute Resolution (ADR) refers to ways in which disputes between consumers and traders can be resolved without litigation. ADR has become popular as they are usually less costly and more expeditious than litigation. There are many different forms of ADR but the most popular are Arbitration and Mediation.
A corporate action whereby a company buys most or possibly all the shares of another company and often it’s assets. Whether or not the two companies physically change or merge is down to the owning party.
Arbitration is where the parties involved in a dispute agree to one or more independent people arbitrating over the issue(s) involved. In some cases, both parties agree to be bound to the arbitration outcome before the process starts. It is a form of ADR.
Stands for ‘Common Reporting Standard’ an information standard that was developed by the Organisation for Economic Cooperation and Development (OECD) to combat international tax evasion. It facilitates the automatic exchange of information across the world.
A Bankruptcy stance that can be taken in the USA whereby a business or individual, though in Chapter 11 no liquidation is enforced, the applicant still owns their assets but under supervision.
Concerned primarily with the rights and duties of individuals, concentrating on recovery rather than the infliction of punishment. Many of the laws originate from ‘Common Laws’ which are more like precedents set by previous decisions and verdicts.
The set of laws, some jurisdiction specific, that apply to corporate actions, rights, and their relation to employees and the public.
Activities and transactions that take place across two or more different countries either physically or digitally.
A disagreement over the extent or existence of compensation or acceptance of duty or right.
The Foreign Account Tax Compliance Act, a regulation brought in by the United States to promote cross border tax compliance. It requires tax authorities to obtain specific details about US citizens with investments outside of the US.
Referring to creations from either individual or collective minds for use in commercial activity. Usually protected by patents and copyrights.
The position of an individual or business that cannot pay its debts and obligations, either by test of cash flow or balance sheet.
The area of space that a governing body has the practical authority to enforce laws and administer justice.
The Lawyers International Network for Employees and Executives.
Mediation is an assisted process, where two parties resolve their dispute through negotiation. Mediators attempt to steer the discussions in a constructive direction, improve communication and ‘reality test’ the negotiations, with the intention of find the ‘optimal’ solution. It is a form of ADR.
Usually used in the context of Mergers and Acquisitions, mid-market tends to refer to the bracket of companies’ worth between £50M - £250M
A patent is a set of exclusive rights which are granted by a state to an inventor for a limited period in exchange for complete public exposure of an invention. The owner of the patent may give permission to, or license other parties to use the invention on mutually agreed terms. Patents are a form of intellectual property.
Private Client work usually refers to the work done for individuals for their personal needs, with works including Wills, probate and executorship matters.
Professional Service Firm
Tertiary sector companies that require specialist qualification in arts or sciences to achieve high levels of knowledge and understanding.
A committee of advisors to provide guidance and direction on key company policies and issues – usually formed by high ranking employees and shareholders.
Tort Law covers the majority of civil lawsuits. Essentially, most claims that arise in civil court, with the exclusion of contractual disputes, fall under tort law. Tort Law is the body of law which allows people to seek compensation for wrongs which have been committed against them.
A Trademark is often referred to as a brand or brand name and is used by a business/organisation as an identification sign to distinguish goods or services of one trader from another. The owner of a trademark is capable of pursing legal action against trademark infringement. Trademarks can take many forms, for example, Logos, Slogans, Colours, Shapes and sounds.