Corporate

12-23-2020
The Official State Bulletin of December 23, 2020 carried notice of Royal Decree-Law 35/2020, of December 22, 2020, on urgent measures to support the tourism and hotel industries and trade and in relation to tax matters (RDL 35/2020), articles 1 through 6 of which include certain measures affecting non-residential lease agreements.
12-18-2020
Together with the proposal for a Digital Services Act (see here), the European Commission has proposed a new regulatory regime applicable to certain platforms that provide digital services (Digital Markets Act, or DMA). The approval of these rules will involve substantial changes in the business models of a number of companies and will have a significant impact on how competition plays out in digital markets.
12-18-2020
The European Commission has just published its proposal to regulate digital services in two texts which even it considers ambitious: the Proposal for a Regulation on Digital Markets (analyzed here) and the  Proposal on a Regulation for Digital Services (DSA) which we address below. In forthcoming articles, we will take a close look at the many changes that lie ahead. Today, by way of introduction, we provide a summary of the main obligations (and rights) contained in the Proposal for a Regulation on Digital Services.
11-06-2020
In the previous five articles in this series (see here) we saw the reasons and setbacks associated with startups’ exclusive dependence on equity, and the advantages of debt, in what is also a favorable scenario for debt. We saw the difficulty to provide general recipes for getting debt and a few not very promising routes for startups. And looked at venture debt as a suitable mechanism for startups. Together with discussing the importance of security interests and of thinking up ways of using new intangibles, and in the latest article we suggested pledges of future revenues.
11-18-2020
Royal Decree-Law 34/2020, of November 17, 2020, on urgent measures to support the solvency of businesses and support the energy sector, and in the tax field (“RDL 34/2020”) published in the Official State Gazette (BOE) on November 18, 2020, broadens the suspension regime to include investments from the European Union or European Free Trade Association countries and amends certain components of the suspension of the deregulation regime for other direct foreign investments. The new legislation will come into force on November 19, 2010.
11-19-2020
Royal Decree-Law 34/2020, of November 17, 2020, on urgent measures to support business solvency and the energy sector, and on tax matters (RDL 34/2020), published in the Official State Gazette (BOE) on 18 November 2020, further extends the term for the granting of ICO guarantee facilities relating to commercial paper notes traded on the Spanish Alternative Fixed Income Market (MARF) and introduces amendments to the Spanish Securities Market Law.
11-18-2020
The November 18, 2020 edition of the Official State Gazette (BOE) published Royal Decree-Law 34/2020, of November 17, 2020, on urgent measures to support the solvency of businesses and support the energy sector, as well as in the tax field. Approved measures include an extension until December 31, 2021 of remote attendance at meetings of the corporate bodies of capital companies (defined as all those governed by Legislative Royal Decree 1/2010, of July 2, 2010), civil-law partnerships (sociedad civil), cooperative companies, associations and foundations.
09-25-2020
Garrigues was one of the biggest winners at the fifth edition of the Expansión Legal Awards for Excellence in Business Law Practice, hosted by the daily financial newspaper Expansión. The firm received four awards: Best firm in the Digital Economy sector, Most innovative project, Best Pro Bono initiative and Best transaction.
09-23-2020
When drafting, negotiating and signing a shareholders’ agreement as a consequence of an investment round in which a venture capital fund (fund) acquires a stake in the share capital of a startup, the fund must be clear about what fundamental clauses should be included for its greater protection from the founders of the startup who have been managing the company since its incorporation. Likewise, every entrepreneur/founder must understand that such shareholders’ agreement will include certain essential clauses so that a fund is fully protected when it invests in a startup.

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