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Happy New Year to all of our readers! The team here is looking forward to the challenges that 2014 will doubtless bring although if it involves any more rain we're all going to move to Dubai or, failing that, the Atacama Desert in Chile.
In the meantime, here's this month's round-up of the top 5 most interesting developments in commercial law (as the team here sees it), extracted from our monthly Lexis®PSL Commercial round-up. We also set out any new statutes and statutory instruments that might also be of interest to commercial lawyers and their clients.
Following the Government's consultation about implementing the Consumer Rights Directive earlier in 2013, it has now issued the final Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013.
The regulations will apply from 13 June 2014 and replace the current distance and doorstep selling legislation.
The key changes from the current legislation are that the current cooling off period will be extended to 14 days and consumers buying digital content will be protected as well as those buying tangible goods and services.
The Government has now included provisions in the regulations implementing rules on delivery and risk, which it originally intended to implement via the Consumer Rights Bill. The Government has already implemented provisions in the Consumer Rights Directive regarding 'above-cost' payment surcharges in the Consumer Rights (Payment Surcharges) Regulations 2012, which came into force on 6 April 2013.
According to a recent survey, one in five companies has suffered at least one attempt to steal its trade secrets in the last ten years. The 2013/2014 Kroll Global Fraud Report says the numbers are increasing, with 25% of companies reporting theft of information in 2013, up from 18% in 2012.
The European Commission has
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