By WACHTELL, LIPTON, ROSEN & KATZ：Adam O. Emmerich Robin Panovka David A. Katz；King & Wood Mallesons：Wang Kaiding  Jing Gang  Wang Lianghua

More than 40% of global M&A in 2012 involved acquirors and targets in different countries, including $170 billion of acquisitions in the U.S. by non-U.S. acquirors. Given the continuing accumulation of U.S. Dollars in emerging economies, many expect the trend to continue as Dollars are re-invested in the U.S. Natural resources will continue to be an important part of this story, including in the U.S., where substantial non-U.S. investment has been an important trend, as well as in resource-rich developed nations such as Canada and Australia, where non-domestic investment has lately been highly controversial. Continue Reading Cross-Border M&A – Checklist for Successful Acquisitions in the U.S.

作者：WACHTELL, LIPTON, ROSEN & KATZ：Adam O. Emmerich、Robin Panovka、David A. Katz；金杜律师事务所：王开定、景岗、王良华

2012年的全球并购有超过40%的交易涉及不同国家的收购方和目标公司，其中境外收购方在美国进行的并购交易总额达到1700亿美元。由于新兴经济体持续累积美元，很多人预计该趋势将继续保持，因为这些美元将会重新投资于美国本土。自然资源仍将是并购大潮的重要部分，这包括美国，来自境外的大量投资已成为美国并购市场的一个重要趋势，也包括加拿大和澳大利亚这样资源丰富的发达国家，近期来自境外的投资在这些国家备受争议。 Continue Reading 跨境并购：在美国成功并购的要点

By Cecilia Lou  Ding Xianjie and Yao Di King & Wood Mallesons’ IP Legal Group Shang Hai Office

On November 12, 2012, the Consultation Draft of Regulations on Service Inventions (“Draft Regulation”) was released by the State Intellectual Property Office of China for public comments with immediate effect. The Draft Regulation was formulated for the purpose of protecting the legal rights and interests of the inventor-employee and the employer, to stimulate and improve the ability to innovate. For those companies which have Chinese service inventions in China, they should be aware of this Draft Regulation as it places additional pressures on employers. Continue Reading SIPO Releases Consultation Draft of Regulations on Service Inventions

作者：楼仙英 丁宪杰 姚迪 金杜律师事务所知识产权组上海办公室 

 2012年11月12日，中国国家知识产权局发布了《职务发明条例草案》的征求意见稿，并从即日起面向社会征求意见。该条例的立法意义是为了保护职务发明人和单位的合法权益，充分调动创新积极性，提高创新能力。对于在中国拥有职务发明的企业而言，本条例对于其经营有十分重要的意义，因为它给雇主一方施加了较大的压力。

该征求意见稿的主要内容包括：单位需建立知识产权管理制度的义务；发明的所有权和报告；职务发明的奖励和报酬；职务发明知识产权的运用实施、监督检查和法律责任等。 Continue Reading 中国国家知识产权局发布了《职务发明条例草案》的征求意见稿

By Cecilia Lou  Ding Xianjie Yao Di  King and Wood Mallesons’ IP Legal Group

The current PRC Trademark Law (“Law”) was implemented in 1983, and revised in 1993 and 2001, and it has played a significant role in supporting the development of the PRC social economy since its implementation. However, the current Law is complained a lot in practice mainly because the registration procedure is fairly complex and time consuming, bad faith registration is common and difficult to stop and it provides insufficient protection against trademark infringement. Thus, The latest draft of revision of PRC Trademark Law Draft (“the Draft”) has been released and is currently open for any public comments until January 31, 2013. Generally speaking, the Draft addresses to the above mentioned issues. Continue Reading Five Issues You should be Aware of the Latest Draft of Revision of PRC Trademark Law

作者：宁宣凤、刘佳、尹冉冉

2013年2月22日，贵州省物价局公布处罚决定，就中国知名的高端白酒国有企业贵州茅台的固定转售价格行为，对其处以2.47亿元人民币的罚款。同一天，四川省发展和改革委员会（“四川省发改委”）也公布处罚决定，基于相同的理由，对另一家中国知名的高端白酒国有生产企业五粮液公司，处以2.02亿元人民币的罚款。贵州省物价局和四川省发改委均为国家发展和改革委员会（“发改委”）的地方执法机构，根据《反垄断法》的授权，负责与价格相关的（包括固定转售价格行为在内）垄断协议执法工作。

此两起处罚决定一经公布，即刻引起巨大轰动。这是中国反垄断执法机构首次根据《反垄断法》对固定转售价格行为予以处罚。此外，两笔罚款的总金额高达4.49亿元人民币，也是迄今为止中国反垄断执法史上金额最高的罚款。 Continue Reading 第一张纵向垄断协议罚单：贵州茅台和五粮液固定转售价格案简析

By Denis Brock Stuart Valentine KingandWoodMallesons’ Hong Kong Office

The English High court’s decision in McManus & Ors v European Risk Insurance Co[i] indicates that the blanket notification of claims (or of circumstances which might give rise to a claim) is likely to be sufficient to trigger an insurance policy. It also highlights the need for an insured to promptly notify claims or circumstances when they first discover them. Continue Reading The blanket approach – Green light given to “catch-all” insurance notifications

By Susan Ning, Liu Jia and Hazel Yin

On 22 February, 2013, Guizhou Provincial Pricing Administration (“Guizhou Pricing Administration”) released the decision to impose a penalty of RMB 247 million (about USD 39.8 million) on Kweichow Moutai, the most famous Chinese state-owned producer of premium liquor, for administering resale price maintenance (“RPM”).  On the same day, Sichuan Provincial Development and Reform Commission (“Sichuan PDRC”) released its decision to penalize Wuliangye, another state-owned premium liquor producer, in an amount of RMB 202 million (about USD 32.6 million) for RPM as well.  Both agencies are local counterparts of the National Development and Reform Commission (“NDRC”), which is charged with the responsibility to enforce against price-related monopoly agreements, including RPM under the Anti-Monopoly Law (“AML”).

The news has made a huge stir, because this is the first time the Chinese AML enforcement agencies penalized RPM under the AML.  Besides, the two fines add up to RMB 449 million (about USD 72.4 million) in total, the largest penalty in China’s AML enforcement history so far. Continue Reading Chinese Antitrust Authorities Imposed Large Fines on Kweichow Moutai and Wuliangye for Resale Price Maintenance

作者：尤杨、蔺楷毅、赵之涵 金杜律师事务所争议解决组

2013年1月1日，经第二次修订的《中华人民共和国民事诉讼法》（下称“《民事诉讼法》”）正式施行。与修订前相比，《民事诉讼法》在第十五章“特别程序”中增加了关于实现担保物权的内容，规定担保物权人及其他有权请求实现担保物权的人，可以不经诉讼程序，直接向人民法院提出申请实现担保物权。据媒体报道，2013年1月11日浙江省温州市鹿城区人民法院即根据以上规定，做出全国第一份直接实现担保物权的《民事裁定书》（据笔者的了解，事实上自《物权法》颁布实行后，上海地区的一些基层法院早在本次《民事诉讼法》修订之前既已办理过通过特别程序实现担保物权的案件）。

笔者认为，直接实现担保物权的特别程序对信托计划的兑付纠纷争议解决具有非常重要的意义 Continue Reading 信托实务专题之（四）：应对信托计划兑付危机的新途径——浅析实现担保物权特别程序

作者：熊进 鲁婷婷 陈艾婧 金杜律师事务所公司并购组

一、 前言

北京市发展和改革委员会（“北京发改委”）于2013年1月15日发布了《关于进一步简化企业境外投资项目管理程序有关工作的通知》（京发改规〔2013〕2号，下称“《通知》”），进一步简化对地方国营和民营实施的企业境外投资项目的管理程序。

与现行的企业境外投资项目管理政策相比，《通知》对由北京发改委审核批准的境外投资项目在项目管理程序方面进一步进行了简化，主要体现在以下四个方面： Continue Reading 北京市发改委颁布新规，进一步简化境外投资项目管理