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A Promising New Sta rt on the Sil k Road

A Promising New Sta rt on the Sil k Road. Irania n Laws that Mitigate R isk s i n Commercial Activities. June 2014. sil k r o ads t r a t e g ic . c o m. Index:. The Constitu tion , the Codes & internationa l Tr e aties. The Investm ent Act (2002)

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A Promising New Sta rt on the Sil k Road

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  1. APromisingNew Startonthe SilkRoad Iranian LawsthatMitigateRisks in CommercialActivities June2014 silkroadstrategic.com
  2. Index: TheConstitution,theCodes&internationalTreaties.TheInvestmentAct (2002) TheIntellectualProperty Laws and Regulations( 2008)TheLaborLaw &EmploymentofNon-Iranians(1990)InternationalArbitration&InterimMeasures A. B. C. D. E.
  3. This brief presentation focuses on how certain specificIranian commercial laws & regulationsmitigateinvestmentandbusinessrisksincommercialandcorporatecross border transactions. Many of Iran'scivil and commercial codes and regulations date back to the early twentiethcentury,whenastrongmoderncorporatefoundationwasfirstestablished (the Codes).
  4. TheseCodeshaveevolvedwithinIran’sbodyofcustomarypractices,shapedandinfluencedbyIran'srichhistory,andhavebeenmodified,amendedand supplemented with specificbody of laws (such as the Labor Law and Intellectual Property Law) that today regulate and significantlyimpact commercial activities and business dealings in cross border transactions.
  5. InsectionAofthispresentation,certainkeylegalprinciplesandunderstandingsthatareimbedded in theConstitutionand theCodesarereviewedtogetherwithsomeoftheexisting Treatiesand bi-lateral investmentagreementsthat positively impact commercialtransactions. InsectionB,Iran’s“ForeignInvestmentAct”,asaviablegatewayforinvestment,isconsideredforits added guarantees and benefits. InSectionE,thiscrossborderinvestmentjourneyconcludesbyreviewingtheexistinginternationalcommercialarbitrationinfrastructurein Iranand the available interim/injunctivereliefmeasures.
  6. TheConstitution,theCodes&internationalTreaties. TheConstitution ConstitutionArt. 28, 29 &43 (Labor,Employment&Social Security) ConstitutionArt. 44 (theMotherindustries &Privatesector) ConstitutionArt. 77 &139 (Majlis approvals) TheCivil&CommercialCode(“Contracts”and the“IntentionofParties”) CivilCodeArt. 10 (sanctity ofcontract) CivilCodeArt. 183 (freedomtocontract) CivilCodeArt. 190 (conditionsofcontracts) Somekeyinternationalconventionsand bi-lateral treatiesthat impact inboundinvestment.
  7. TheInvestmentAct(2002) www.investiniran.ir TheOrganizationforInvestmentEconomicand TechnicalAssistanceofIran(OIETA ortheOrganization) TheForeignInvestmentPromotion and ProtectionAct and its ImplementingProcedure(FIPPAortheAct) Investmentsshall notbe subjected toexpropriationornationalization. Repatriation of capital & profit Foreign exchange fluctuations and repatriation of capital & profit
  8. TheIntellectualProperty Laws and Regulations (1883Paris Conventionand 1891 MadridAgreement/Protocol) The primary Intellectual PropertyLaws (Copy rights laws underconsideration)(Patents,Industrial Designs and TrademarksRegistrationAct (2008) (This Law is currentlybeforetheMajlis and subject to review),ActforProtectionofGeographicalIndications (2005), ElectronicCommerce Law (2003), ActofPlantVarieties Registration, Control and Certification of Seeds and Seedlings (2003), Act on the Protection of Rights of Computer Software (2000)) Infringementand enforcementofpropertyrights Impartiality oftheJudicialrulings
  9. TheLaborLaw&Employment ofNon-Iranians(1990) Iran’s1990LaborLawisbasedontheconstitutionalprincipleofjusticeandthe expansion and improvementofemployment opportunitiesforallIranians. Directemployment: PermanentEmploymentAgreement. TemporaryEmploymentAgreement. a. b. TemporaryEmploymentAgreement(TEA): TemporaryTimeEmploymentAgreement TemporaryScopeEmploymentAgreement Employer &Employee obligationsunderTEA. TerminationofTEA. Employmentofforeign nationals in Iran.
  10. InternationalArbitration&InterimMeasures InternationalArbitration TheLaw: TheLawofInternationalCommercialArbitration(LICA) (1997) modeledafterUNCITRAL Thetwomainarbitrationinstitutionsin Iran: TehranRegionalArbitrationCenter(TRAC)(2005) www.trac.ir ArbitrationCenterofIranChamber(ACIC) (2001) www.arbitration.ir Enforcementofforeignarbitrationawards in Iran. Thearbitration clause in agreementswiththeGovernmentconcerningpublic/governmentproperty(Art.139). Injunctiverelief&Security Arbitrationproceedings:LICAArt.9&17 JudicialProceedings:CivilProcedureArt. 108, 310, 145 &149
  11. Disclaimer: ThisPresentationisthepropertyofShahryarHakimi,Esq. Thispresentationisinformationalandisnotintendedtobereliedupon as legal advise oropinion.
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