Criteria for Assessing the Adequacy of a Contractual Fine
26.05.2015
Contractual parties can stipulate that a party shall pay a contractual fine in case of a breach of a contractual obligation.
Read moreNon-competition Clause pursuant to Labour Code
12.05.2015
Provision of Section 310 Subsection 1 of the Labour Code enables the employer and the employee to negotiate a non-competition clause. The Supreme Court has recently issued a judgement (Reference Number 21 Cdo 506/2013) in which it expressed its opinion on concluding an agreement on a non-competition clause and its content.
Read moreExpression of Number of Managing Directors in the Memorandum of Association of the Limited Liability Company
05.05.2015
According to Act No. 90/2012 Coll., on Business Corporations, the Memorandum of Association of the Limited Liability Company (s.r.o.) must also contain the explicit number of its Managing Directors. The Limited Liability Companies therefore had to adjust their Memorandum of Association to the Act on Business Corporations. The number of Managing Directors must also be obligatorily published in the Commercial Registry.
Read more