Compulsory licenses may be granted without the owner’s consent during emergencies or for vital public interests like health.
Under what circumstances can a compulsory license be granted? Read More »
The government can use patented inventions without consent for public interest, national security, or health reasons.
When can the government exploit a patented invention without the owner’s agreement? Read More »
What two specific reports, in addition to the standard annual financial statement and GIS, must corporations vested with public interest submit? Corporations vested with public interest are subject to heightened reporting requirements beyond the general annual financial statements and general information sheet (SEC. 177, Revised Corporation Code of the Philippines). These entities must submit a
What role does the NEDA play in monitoring stock ownership in corporations? The National Economic and Development Authority (NEDA) is tasked with determining, from time to time, if the corporate vehicle has been used by any corporation, business, or industry to frustrate the provisions of this Code or applicable laws (SEC. 176, Revised Corporation Code
What role does the NEDA play in monitoring stock ownership in corporations? Read More »
When is a contract between a corporation and its director, officer, or relative considered voidable? A contract between the corporation and one or more of its directors, trustees, officers, or their spouses and relatives within the fourth civil degree of consanguinity or affinity is generally considered voidable, at the option of the corporation (SEC. 31,
What is the role and required percentage of independent directors in corporations vested with public interest? Corporations deemed vested with public interest must have independent directors constituting at least twenty percent (20%) of their board (SEC. 22, Revised Corporation Code of the Philippines). An independent director is defined as a person who is free from
This article defines what is a public interest corporation, or a corporation vested with public interest.
What are Public Interest Corporations? Read More »
