VIC-MED Project Developments



Eldib & Co had the privilege of being the sole Legal Expert for the VIC-MED project “Establishment of a Navigational Line between Lake Victoria and the Mediterranean Sea”, throughout its pre-feasibility study phase.

The VIC-MED project’s principal objective is to develop a sustainable transport link between the Nile Basin countries, namely Burundi, Democratic Republic of Congo, Kenya, Rwanda, Tanzania, Uganda, South Sudan, Sudan and Egypt; which will accordingly;

    a) Promote economic integration among the Nile Basin countries through trade movements, and cheaper and cleaner transport means for goods and people,
    b) Ultimately build a development corridor on the Nile River,
    c) Serve the Nile Basin countries that have no access to the seas and oceans,
    d) Reduce poverty among the Nile Basin countries.

Eldib & Co has successfully prepared the Legal Framework for the Project, at this phase, which was presented and approved by the Project’s foot-print countries and management unit during the Fourth Steering Committee Meeting which was held in Egypt on the 16th and 17th of October, 2018 during Egypt’s First Cairo Water Week (CWW) which kicked off on Sunday 14th of October, 2018 under the auspices of President Sisi, aiming to increase the public awareness of water rationalization for the sustainable development amid state of water.

We are extremely grateful to be part of such a historic and strategically significant milestone for the region.

Ministry of Investment and International Cooperation adopted Sole Proprietorship companies

 

Dr. Sahar Nasr minister of Investment and International Cooperation, has accredited the decree of establishing the Sole Proprietorship companies, which came into action today August 16th, 2018 Dr. Nasr has stated the benefits of the Proprietorship companies which is to encourage the small business and startups. Documents required for establishing the Sole Proprietorship Company:

  • Non-ambiguity certificate approved by the Commercial Register
  • A bank certificate with a deposit of the entire capital, not less than EGP 50,000
In case that a legal entity wishes to establish a Sole Proprietorship Company, the following documents shall be submitted:
  • Eligible power of attorney from the individual.
  • A copy of the recent commercial record of the legal entity (Original copy is only requested for review)
In case the founder of the Sole Partnership Company is a person of the public law, the approval of the Prime Minister or the competent minister should be obtained, according to the case, the following documents shall be submitted:
  • Power of attorney enclosing the right of establishing a company, signature of articles of association before the notary public.
  • Security check form for the company founder and/or foreign manager.
  • Original extract from the register of accountants and auditors is required for the accounts auditor to be appointed, the extract shall be enclose his right to review and approve the budgets of the company, hence, a copy or confirmation of  the appointment  has to be submitted in advance to the GAFI.
  • Identity proof copy (Original copy is only requested for review)
  • In case of “In Kind share” an evaluation of the “share” shall be submitted from the competent experts and the founder’s approval of the validity of the said evaluation.
  • In the case of a public free zone, the approval of the Authority shall be obtained before incorporation and the approval of the Board of Directors of the free zone to which the project is to be established.
Our experienced and specialized attorneys at Eldib & Co will guide you step by step for any company incorporation matters. Should you have any questions and queries, please contact us at mail@eldib.com and we will be proud if you turn to us with confidence.

Eldib & Co Establishes Turkey Office



Eldib & Co – Attorneys at Law has been providing services in Intellectual Property for the last 100 years and in turn gained the trust of thousands of clients. It is now our pleasure to announce the opening of our new Turkish office located at: Maslak Mah. Ahi Evran Cad. Polaris Plaza No: 21 Kat: 3 D: 18 Şişli, Istanbul, Turkey in view of the increasing demand of our business and to deliver prompt and speedy service to all our clients. We thank you for your continued trust and business.

Services we offer in Turkey:
  • Patents
  • Trademarks
  • Designs
  • New Plant Varities
  • Title Updates
  • Brand enforcement
  • IP Litigation
Our Team and our Managing Director in Turkey Can Mercan forever endeavor to serve you better. Enquiries may be sent to can.mercan@eldib.com or dina.eldib@eldib.com

MOROCCO: Jurisdiction Update

Certificates Electronically Issued




The Moroccan Trademark Office (OMPIC) has announced that, as of 28th May, 2018, trademark registration certificates and renewal certificates will be issued electronically in a digital PDF format, stamped by OMPIC.
This new practice will expedite the registration process of national trademarks in Morocco.
For further information, please do not hesitate to contact us with any enquiries at our main mail address mail@eldib.com

New Consumer Protection Law Draft



On April, 2018, the Egyptian Parliament approved the draft of the new Consumer Protection Law (“the Law”). Said Law shall enter into force within three months from the date of its publication in the Official Gazette, and the Executive Regulation thereof shall be issued within three months from the day the Law enters into force.

One of the highlights of the Law is introducing a new concept, known as Online Contracting. Acknowledging this concept is seen as a milestone to reach a satisfying level of transparency and security for consumers. As we currently live in an era that relies on Online Contracting when carrying out daily activities, consumers need definite and concrete laws and regulations to govern such contracting methods.

The Law shall apply on all Online Contracting activities between Suppliers and Consumers, such as, but not limited to, online shopping and any agreements which are negotiated or confirmed online.

Furthermore, the Law took Intellectual Property rights (“IPR”) to a new level by affirming and applying serious penalties on anyone who takes an action that breaches an IP right of another.

Due to the lack of IPR awareness in Egypt, introducing this concept in the Consumer Protection Law, which is considered a well-known law in Egypt, is a beneficial step for spreading awareness about IPR in general.

Currently, the Egyptian Intellectual Property Law no. 82 of 2002 is the applicable law for any IP infringement matter. Said law determines all rights and penalties regarding IPR. However, the new Consumer Protection Law also applies serious penalties on any supplier who undertakes an action that shall result in creating a wrong impression or misleading the end-user of a commodity. In such cases, the breaching party shall be penalized with a fine not less than EGP 20,000 and no more than EGP 1,000,000 or the value of the infringed product, whichever is more; the aforementioned fine shall be doubled in case of repetition.

To finalize, the new law is set to be for the benefit of the consumer in every way by applying accurate and explicit liabilities on the suppliers, and in order to ease and secure the business-consumer activities.

Our experienced team would be pleased to assist you in any Intellectual Property or Consumer Protection matter.

Should you need any further assistance, please contact Mohamed Eldib, Partner at Eldib & Co, Egypt Office. Email: mohamed.eldib@eldib.com

Important Announcement regarding Egyptian Law No. 115 of Year 2015 Regulating Movable Securities

 

The Egyptian Collateral Registrar has issued an announcement in relation to the application of the above Law declaring the establishment of the electronic movables security registrar as follows:

The Content of the Announcement

As of 11th March 2018The Egyptian Collateral Registrar has been activated in accordance with the provisions of the said Law and its Executive Regulation,

The creditors are granted a grace period of 3 months (Starting from 11th March 2018 till 10th June 2018) to register their collaterals created over movables prior to the promulgation of the Law.

Definition of movables/assets

As per Article (1) of the Law, the movable/asset is defined as follows:

Every movable whether existing or future, tangible or existing intangible assets, owned by the debtor, the guarantor or the creditor, used to guarantee an obligation, a debt, a finance or a credit facility, in accordance with the regulations of the Executive Regulations.

Article (2) of the Law states that the provisions thereof are applied on secured rights by a movable possessed by the debtor/guarantor, as agreed by the parties in the agreement that would be registered.

Moreover, the Law outlines the assets/movables, over which the collaterals may be created, to include without limitation:

  • Bank deposits and accounts, including deposits and current accounts
  • Movable assets ancillary to land
  • Intellectual Property rights and patents
  • Fungible assets (Oil, metal, food, etc…)
  • Receivables and credit notes
  • Timber, agriculture productions, crops and animals

Benefits and risks 

The banks that will register their collaterals during the before mentioned grace period shall maintain a priority right among the remaining creditors over these movables/assets as of the date of creating of such right.

However, failing to undertake the registration procedures during the said grace period puts the banks at the risk of not enjoying a ranking priority from the date of the security creation. Consequently, the criterion of creditors’ priority will change and will be determined as of the date of the security registration in the Registrar.

In light of the above, Banks need to register all their security rights created over the relevant movables/assets (notwithstanding the date of the creation of such security) as soon as possible before the 10th of June 2018 in the Registrar so they enjoy the benefit and avoid the risk.

The professional assistance we offer

Our team of experts would be delighted to help your good selves with the following matters:

Any advice regarding the required data for the valid registration of the created collaterals;

Any required legal advice regarding the Law, its Executive Regulations and practice; Proceeding with the required procedures for duly registering any collateral at the Registrar; Challenging any registration deemed invalid by the Registrar; Reviewing the validity of the registration documents at the Registrar. For further information about this regulation, please do not hesitate to contact us with any enquiries at our main mail address mail@eldib.com.The Egyptian Collateral Registrar has issued an announcement in relation to the application of the above Law declaring the establishment of the electronic movables security registrar as follows:

The Content of the Announcement

As of 11th March 2018The Egyptian Collateral Registrar has been activated in accordance with the provisions of the said Law and its Executive Regulation,

The creditors are granted a grace period of 3 months (Starting from 11th March 2018 till 10th June 2018) to register their collaterals created over movables prior to the promulgation of the Law.

Definition of movables/assets

As per Article (1) of the Law, the movable/asset is defined as follows:

Every movable whether existing or future, tangible or existing intangible assets, owned by the debtor, the guarantor or the creditor, used to guarantee an obligation, a debt, a finance or a credit facility, in accordance with the regulations of the Executive Regulations.

Article (2) of the Law states that the provisions thereof are applied on secured rights by a movable possessed by the debtor/guarantor, as agreed by the parties in the agreement that would be registered.

Moreover, the Law outlines the assets/movables, over which the collaterals may be created, to include without limitation:

  • Bank deposits and accounts, including deposits and current accounts
  • Movable assets ancillary to land
  • Intellectual Property rights and patents
  • Fungible assets (Oil, metal, food, etc…)
  • Receivables and credit notes
  • Timber, agriculture productions, crops and animals

Benefits and risks 

The banks that will register their collaterals during the before mentioned grace period shall maintain a priority right among the remaining creditors over these movables/assets as of the date of creating of such right.

However, failing to undertake the registration procedures during the said grace period puts the banks at the risk of not enjoying a ranking priority from the date of the security creation. Consequently, the criterion of creditors’ priority will change and will be determined as of the date of the security registration in the Registrar.

In light of the above, Banks need to register all their security rights created over the relevant movables/assets (notwithstanding the date of the creation of such security) as soon as possible before the 10th of June 2018 in the Registrar so they enjoy the benefit and avoid the risk.

The professional assistance we offer

Our team of experts would be delighted to help your good selves with the following matters:

Any advice regarding the required data for the valid registration of the created collaterals;

Any required legal advice regarding the Law, its Executive Regulations and practice; Proceeding with the required procedures for duly registering any collateral at the Registrar; Challenging any registration deemed invalid by the Registrar; Reviewing the validity of the registration documents at the Registrar.

For further information about this regulation, please do not hesitate to contact us with any enquiries at our main mail address mail@eldib.com.

Requirements for entering PCT national phase in Kuwait

 

The Ministry of Commerce & Industry in Kuwait declared that the requirements for entering PCT national phase in Kuwait are as follow:

  • Applications shall be submitted in Arabic Language.
  • Official fees: 150 KWD = 501 USD
  • The application shall be submitted within 30 months from the date of priority of the country of origin (18 months from the date of filing the international PCT application).
  • Power of attorney (POA) singed by the applicant.
For more information, please do not hesitate to contact us at patents@eldib.com

Egypt – Activation of Electronic Signature

On Friday, 26th of January, 2018, the Information Technology Industry Development Agency (“ITIDA”) declared the commencement of the activation process of the Electronic Signature services at GAFI, as well as solving all pending issues regarding ITIDA licensed companies.

Moreover, the Ministry of Investment and Internal Cooperation has declared the Electronic Signature system, once activated, as a method for registering new companies at GAFI, will be one of the procedures which shall contribute in facilitating the company’s registration process on one hand, and simplify the reinforcement of the Investment Law and its executive regulation on the other. Once activate, it is expected that the system ease and expedite all procedures with regard to incorporating new companies, as well as help reduce fraud.

For more information please do not hesitate to contact us with any queries at our main mail address: mail@eldib.com or our key contact Mohamed Eldib, Partner at mohamed.eldib@eldib.com

Korean delegation visit to Eldib & Co

Eldib & Co had the honor of receiving officials of the KOICA (Korea International Cooperation Agency) at our Cairo office to discuss the digitization of the filing process at the Egyptian Patent Office.

Eldib & Co was nominated by the EGYPO to discuss the benefits of the digitization for the filing process with the KOICA due to our position as the leading IP firm in Egypt and North Africa.

This project has been undertaken by the Egyptian government to keep pace with the evolution of the technology and in consideration of the mutual collaboration between the Egyptian and Korean governments. This project will be managed by the KIPI (Korea Institute of Patent Information) and will be supervised by Dr. Mr. Adel Ewida who serves as the President of Egyptian Patent Office.

Egypt – Latest Amendments in Companies Law

Egyptian Companies’ Law Undergoes Amendments

New amendments were made to the Egyptian Companies’ Law as circulated on January 16, 2018. These new amendments effectively introduce a new type of company in order to promote and ease investment in Egypt. This effort is to update the existing laws by introducing the Sole Person Company with limited liability.

Sole Person Company

In accordance with the Egyptian legislative reform and with the aim to reach the specification of global investment laws, The Egyptian legislator declared a milestone law No. 4 for the year 2018 amending the Companies law No. 159/1981 to enhance the investment environment within Egypt. These new amendment laws brought a radical change in the corporates available structure by adding the sole person company to the current structures.  The capital sole person company -or the sole partnership in other jurisdictions- is owned by either a natural person or legal entity and is to be incorporated in the form of Limited Liability Company with obligation of appointing legal auditor. The liability of the Sole person Company is limited to its capital only with certain restriction to split between the Company’s capital and the founder’s personal wealth.  This limitation on liability encourages investors via retaining their control without great financial risks.

Benefits

1. Companies can now raise their capital by way of Ordinary General Assembly, excluding companies listed in the stock market. 2.  Eliminating the lock-up period that spun-off companies (which may now take multiple forms) needed to adhere to before trading their shares. 3. Allowing for electronic attendance and signatures to replace in-person attendance at the meetings of the board of directors.

Limitations 

The Sole Person Company may not establish another sole person company or issue shares.

Recognition of Joint Venture and Shareholders Agreements 

The amendments allowed the founders to include their own agreement regulating their relationship during the incorporation or after. By this new rule all the Joint Venture and shareholders Agreements signed between the founders can be included in the Company’s bylaws.

Accumulated Voting power The new law grants the shareholders the right to have the accumulated voting power in electing the board member by granting each shareholders number of votes equal to his or her shares. Such votes can be distributed between the numbers of board member candidates’.

Dividing in existing companies into two or more companies 

Article 135 added the ability to divide any existing company into two or more companies formed in accordance with the current law but sole person company, after following the required procedures.

For more information in regards to these amendments or help in establishing a Sole Person Company please do not hesitate to contact us with any queries at our main mail address: mail@eldib.com or our key contacts: Abdel Aziz Zaki, Partner and Head of Corporate Department at abdelaziz.zaki@eldib.com  and Mohamed Eldib, Partner at mohamed.eldib@eldib.com