Commercial news update July 2018: Corporate Governance Reform, Disability Discrimination and Trade Secrets

Commercial news update July 2018: Corporate Governance Reform, Disability Discrimination and Trade Secrets

This month we bring you updates across Corporate & Commercial, Employment, Intellectual Property and Competition Law.

We focus on the commercial aspects and look at the practical steps for you to consider.

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This month, we cover the following:

Corporate & Commercial—tune in from 0:14 secs

Exclusion clauses - In the recent case of Motortrak v FCA Australia shows the courts will enforce the literal words of a contract even where this leaves a party with no effective remedy for a contractual breach.
See News Analysis: Affirming repudiatory breach—no right to rescind following bribery (Motortrak Ltd v FCA Australia PTY Ltd)

Corporate Governance Reform – An update on Theresa May’s planned reforms for Corporate Governance, but new draft laws, subject to Parliamentary approval, will apply to financial years on or after 1 January 2019.
See LNB News: House of Commons briefing paper confirms corporate governance reforms likely to apply from January 2019

Good faith - Commercial contracts do not usually have any implied duty of good faith, however, the judge in a recent case held that in these circumstances each party should be able to trust that the other party will act with integrity and in the spirit of cooperation.
See News Analysis: Duty of good faith implied into a commercial contract (Sheikh Tahnoon Bin Saeed Bin Shakhboot Al Nehayan v Kent)

Removing director addresses – New regulations came into force in April to make it easier to remove home address information about directors, secretaries and people with significant control from Companies House public records.
See Practice Note: Residential addresses of individual directors—protection from disclosure

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About the author:
Iain founded Radius Law in September 2013 which has been designed to meet the exacting standards that Iain had of his law firms during his time as an in-house counsel.

 

Iain’s in-house career spans 14 years with the 7 years from 2006 to 2013 being the General Counsel and Chief Compliance officer for the Mercedes-Benz UK Group. In this role he led a team of 18 staff.
Iain has previously been recognised in the Financial Times Innovative Lawyers report as a thought leader in legal management. He has spoken regularly and had published articles particularly on how to measure legal value.

Aside from legal management, Iain has significant expertise in regulatory work, particularly competition law and anti-bribery. Iain has led the implementation of large scale compliance programmes and also managed regulatory investigations.

Outside of the day job Iain has a passion for community projects and has been a non-executive director of a housing association and also established a debt advice centre. This social conscious approach continues in Radius Law with a bold commitment to pay 10% of profits to charity.