The Articles of Incorporation is the bible of a corporation. It spells out the pertinent information concerning: a. The name of the Corporation b. The primary and secondary purposes of the Corporation c. Place of principal office of the Corporation d. Term of existence of the Corporation (normally 50 years) e. Names, nationalities, and residences […]
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Entrepreneurs are exposed to government agencies in the usual daily grind of their business. Most companies have to submit monthly forms to the Bureau of Internal Revenue such as the 2550M (Monthly Value-Added Tax Declaration), or the 2551 M (Monthly Percentage Tax Return) or the 1601-C (Monthly Remittance Return of Income Taxes Withheld on Compensation).
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Settlement of an estate need not undergo judicial proceedings all the time. Rule 74, Section 1 of the Rules of Court allows the extrajudicial settlement of estate by agreement among the heirs. Said Rule states: Sec. 1. Extrajudicial settlement by agreement between heirs. – If the decedent left no will and no debts and the
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Selling your business can be motivated by many factors such as inability to continue the business, business losses, buy-out by a competitor, handsome offer by an investor, to name a few. The decision to sell your business will depend upon your sound business judgment and forecasts on the movement of the market. Whatever reason impels
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Contracting and sub-contracting arrangements are commonplace in most business transactions. Instead of hiring their own messengers, janitors and security guards, among others, entrepreneurs have learned the value of outsourcing these services to contractors. Truth be told, contracting out these jobs is actually more cost-efficient in terms of time and money for the usual businessman. However,
On 24 November 2011, the President issued Proclamation No. 295 which declares the regular holidays, special non-working days and special holidays for the year 2012. Employers and employees alike should be familiar with these days. On the side of the employee, he needs to know the days when he is not required to work while
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Republic Act No. 8293, otherwise known as the Intellectual Property Code of the Philippines (“IP Code”), is the law governing copyright, in addition to international treaties which the Philippines is a signatory to. Under the IP Code, copyright subsists in original and intellectual creations which are defined by the enumeration of such works namely: 1.
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Copying original and intellectual creations is considered as copyright infringement and is punishable under Republic Act No. 8293, otherwise known as the Intellectual Property Code of the Philippines (“IP Code”). In order to prove copyright infringement, one must show that he has a valid copyright in the work allegedly infringed and that the perpetrator infringed
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The Intellectual Property Code of the Philippines defines an industrial design as any composition of lines or colors or any three-dimensional form, whether or not associated with lines or colors; provided that such composition or form gives a special appearance to and can serve as pattern for an industrial product or handicraft. Simply put, it
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An invention patent is concerned with any technical solution of a problem in any field of human activity which is new, involves an inventive step and is industrially applicable. Such definition makes it difficult for people to secure an invention patent because most matters or products have already been invented. One may wonder what type
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