Introduction
The Patent and Market Court (PMC) recently decided that the trademark GLENETT could be registered, even though it included the element glen , which – according to the Scotch Whisky Association – was closely associated with the registered geographical indication (GI) Scotch Whisky. The Scotch Whisky Association had asserted that the trademark GLENETT would evoke an association between any products bearing the trademark and the GI in the minds of the relevant public and would thus result in a false perception as to such products origin. By applying the ECJ s decision in
Glen Buchenbach (C-44/17), the PMC dismissed the opposition.
Facts
The Swedish Trademarks Office granted protection to the trademark GLENETT in relation to various types of alcoholic beverage. The Scotch Whisky Association filed an opposition, claiming that the trademark evoked the geographical origin of Scotch Whisky and that its use would give consumers a false perception as to the products or
One of the most pressing audit issues for large taxpayers today centers on the Internal Revenue Code (Code) Section 965 transition tax. The Internal Revenue Service (IRS) has designated Code Section 965 as a campaign issue and is actively auditing taxpayers transition tax calculations and positions, along with other tax reform items. The stakes are high, particularly given the potential to pay this tax over a period of eight years.
On March 23, 2021, the IRS released a Practice Unit that provides an overview of the Code Section 965 transition tax with references to relevant resources. Unfortunately, unlike some other Practice Units, guidance is not provided as to the type of information revenue agents should be requesting from taxpayers.
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Introduction
In recent years, tobacco-free nicotine pouches, which are intended to be placed under the lip, have existed in a grey area with no clear rules or regulations to govern, for example, the warning labels which they must carry or their marketing. The government has therefore assigned to the Ministry of Health and Social Affairs the task of assessing and analysing how such products should be regulated. On 31 March 2021 the results of the analysis will be presented. This article discusses how the issue arose and possible resolutions.
Background
Sweden has a long tradition of using snus , a tobacco product that contains nicotine and is placed under the upper lip. It is used either in its loose form (like chewing tobacco) or in pouches, which has become the more popular method. While snus does not fall within the definition of food stuffs , it is equated with food stuffs according to national legislation. Therefore, it is within the Swedish Food Agency s remit. Snus is ill
Introduction
It has become increasingly clear that after the initial shock caused by the COVID-19 lockdowns, businesses will face lasting challenges, including disrupted supply chains, declining demand and increased financing costs. Against this background, a growing number of investors will need to assess how to deal with distressed business units or entire companies. This article provides an overview of corporate and financial reorganisation options, particularly with regard to the sale of distressed companies or business units and carve-out transactions.
Reorganisation methods
Swiss law provides for a series of reorganisation options. The main alternatives can be summarised as follows:
Sale
Disposing of an entire company or its unprofitable operations is often the most straightforward reorganisation method. However, a distressed sale also confronts the parties with specific challenges. In particular, carve-out transactions can raise complex legal, tax and operational issues.