The 2018 Finance Act introduces changes to the tax treatment of Bons de Souscription de Parts de Créateur d'Entreprise (company founder share warrants, i.e. security giving access to share capital reserved for employees or executives of new companies, commonly referred to as “BSPCEs”).
This provides the opportunity to review the legal and tax regimes applicable to BSPCEs.
The action for damages for breach of an established business relationship brought in the context of an intra-EU dispute is not an action in tort if a tacit contractual relationship existed between the parties.
This is the principle laid down by the Cour de Cassation (French Supreme Court) in a decision dated September 20, 2017. By ruling so, the Cour de Cassation followed the findings of a recent judgment handed down by the Court of Justice of the European Union, and departs from the case-law it traditionally applies in domestic disputes.
On the Internet, determining the location of a damage is particularly complex as such damage may occur in a multitude of places. In this context, the question arises as to what criterion should be applied to determine the court that is territorially competent to hear a tort claim seeking compensation for the damage resulting from a harmful event that occurred on the Internet.
In a decision dated October 18, 2017, the First Civil Chamber of the Cour de Cassation (French Supreme Court) recalled that the mere fact that the French audience has access to a website broadcasting a video ad that infringes copyrights is sufficient to establish the jurisdiction of French courts.
Telework is definitively growing at a fast speed! This type of work organization has become a true societal phenomenon in France in particular since telework has been introduced in the French Labor Code following the adoption of Law dated March 22, 2012. Today, telework is a reality in the daily life of many French employees, mainly in large urban areas.
Telework was thus legitimately included in the scope of the negotiations that took place this summer to prepare the reform of French Labor law. The objective was to facilitate access to this type of work organization that is about to become common, and to implement a secured framework for employees. Ordinance n° 2017-1387 of September 22, 2017 thus recast the legal framework governing telework but does not appear to be really a progress towards simplification.
In an opinion dated September 21, 2017 and released in early November, the Commission d’examen des pratiques commerciales (Commercial Practices Review Committee) ruled on the lawfulness of the payment of year-end rebates provided for in an annual agreement between a supplier and a distributor whereas the requirements applicable for such payment were not met.
Since August 1, 2017, unlisted companies and legal entities required to be incorporated with the Register of Trade and Companies and based in France (in particular foreign corporations with an establishment in France) have the obligation to file with the clerk of the Commercial Court a document that sets forth identification data on their beneficial owner(s), his/her/their personal place of residence as well as the way in which he/she/they exercise(s) control over the relevant company or entity. This document must be produced in support of the registration application.
Companies that meet these criteria and that were already incorporated as of August 1, 2017 must comply with this obligation by April 1, 2018 at the latest.
In two decisions handed down on September 27, 2017, the First Civil Chamber of the Cour de Cassation (French Supreme Court) held that “a foreign law designated by the conflict-of-law rule, which excludes forced heirship, is not, in and of itself, contrary to French international public policy and may be set aside only if its effective application to the case at hand results in a situation that is inconsistent with the French law principles deemed to be fundamental”.
These decisions settle the debate over how forced heirship should be articulated with French international public policy.
With a view to tightening digital platforms’ transparency and loyalty towards consumers, three Decrees published on September 29, 2017 have clarified the information requirements imposed on the operators of such platforms.
Some of the measures introduced by the Decrees must be implemented by January 1, 2018.
In the wake of the wave of modernization and transparency of the French economic life triggered by the so-called “Sapin II” Law, in particular as regards the financing of the economy, Ordinance n°2017-1432 of October 4, 2017 reshapes the legal framework for asset management and debt financing.
The objective is to respond to businesses’ needs for a more diverse set of funding sources, while ensuring investor protection.
The validity of clauses imposed by suppliers on their authorized distributors prohibiting the online sale of their products has given rise to numerous disputes in recent years. French and EC courts generally hold that such clauses are invalid because they restrict competition.
Yet, in a decision dated September 13, 2017, the Cour de Cassation (French Supreme Court) softened its stance by recognizing suppliers who have a selective distribution network the right to impose on their distributors – subject to conditions – contractual terms prohibiting them from selling products on unauthorized online sale platforms.
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