Corporate Social Responsibility and Directors' Duties
Gadens Lawyers, Sydney
by Geoff Applegate
Although there is no agreed definition on CSR the term embraces a number of different concepts, such as: Corporate Responsibility (CR), sustainability, accountability ("triple bottom line reporting"), community involvement.
It is generally accepted to include the way corporations manage the economic, social and environmental impacts of its operations; on one view it is the management of non-financial risk.
There is a very good discussion of the history of Corporate Community Investment (CCI) in Australia in a recent report issued by the Prime Minister's Community Business Partnership . A recent survey discovered that most managers require a business case to justify CCI, with many requiring a ROI implications.
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China Issues New Labor Contract Law
Lehman, Lee & Xu, Beijing
by Feng (Sandy) Lin
After four readings, the long-anticipated and hotly-debated Labor Contract Law (“LCL”) was passed by the Standing Committee of the National People’s Congress, the top legislature of China, on June 29th, 2007, and will come into effect on January 1st, 2008.
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Private Equity in Australia – Recent Developments
Gadens Lawyers, Sydney
by Andrew Lind and Zmarak Zhouand
Private equity is making headlines in Australia, as it is around the world. Recent developments in Australia include:
• a Senate enquiry into private equity and its effects; and
• new legislation in relation to venture capital limited partnerships.
It is not expected that the Senate enquiry will result in any changes affecting private equity transactions, but the recent amendments to legislation affecting venture capital limited partnerships should make the use of these vehicles more attractive to local and foreign investors for early stage private equity investment in Australia.
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Fast Track is the new black: New IAMA Rules to revive arbitration
Gadens Lawyers, Sydney
by Robert Riddell
Dispute resolution provisions are often left the "Old Maid" of contractual terms. Busy people, intent on closing the deal, frequently don't pay them much regard. However, should things not go quite to plan, they can become the centre of attention. It is important to get it right at the outset as the mode of dispute resolution prescribed can have immense consequences in terms of time, cost and strategy.
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