Business Bulletin No. 1/2019

In this issue of Business Bulletin, we bring to you information on updates and changes in legislation which came into effect at the turn of the year 2018 and 2019. As far as newly passed legislation is concerned, we will be focusing in on the amendment to the Trademark Act, which significantly changes certain procedures of the Industrial Property Office, especially the automatic rejection of proposal of a trademark identical to an older, already registered trademark. Registered owners of trademarks are now responsible for monitoring any new trademarks and submitting objections, when necessary. In regards to new legislation that is currently being discussed, we will briefly inform you about the proposal of the amendment to the Act on Banks, as well as the current state of the Act on the Protection of Personal Data and related legislation. As for the case-law updates, we have selected a decision of the Supreme Court regarding the consequences for companies where the function of one of the jointly-acting managing directors expires. Finally, we will provide you with a practical summary regarding the registration of the actual owner of a legal entity into the
registry.

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