Politics Law Society 

German patent law draft modernization act approved

German patent law draft modernization act approved German patent law is set to become simpler and more modern. On October 28, 2020, Germany”s federal cabinet approved the second draft of the act designed to simplify and modernize German patent law. The federal government wants to further strengthen intellectual property rights in connection with the protection of industrial property. To this end, the federal cabinet has now approved the second draft of the act designed to simplify and modernize German patent law (“Zweites Gesetz zur Vereinfachung und Modernisierung des Patentrechts”). We…

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Politics Law Society 

Taxable income from renting via Airbnb – Possibility of voluntary disclosure

Taxable income from renting via Airbnb – Possibility of voluntary disclosure Rental income is subject to tax. Those renting out apartments via platforms such as Airbnb need to be mindful of this if they are to avoid committing tax evasion. Income from renting and leasing is subject to tax. This applies to both real estate companies and private landlords, even if they only occasionally rent out a room or an apartment through Airbnb. The rental income needs to be included in the relevant income tax declaration. Concealing these earnings risks…

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Politics Law Society 

Wirecard AG – Shareholders can register claims in insolvency proceedings

Wirecard AG – Shareholders can register claims in insolvency proceedings Insolvency proceedings concerning Wirecard AG were opened on August 25, 2020 (Az.: 1542 IN 1308/20). Creditors had until October 26, 2020 to register their claims with the insolvency administrator. Wirecard AG filed for insolvency at the end of June. Two months later, insolvency proceedings were opened at the Amtsgericht München – the District Court of Munich – concerning the company and six subsidiaries. For Wirecard AG”s shareholders and investors, the bankruptcy of the former DAX-listed company brings with it the…

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Politics Law Society 

OLG Köln on standards for advertisements featuring “Testsieger”

OLG Köln on standards for advertisements featuring “Testsieger” Anyone promoting products or services using the accolade “Testsieger” (test winner) must also provide a source reference for the test. Important information is otherwise being withheld from consumers according to the Oberlandesgericht (OLG) Köln – the Higher Regional Court of Cologne. The use of test results in product advertising is popular due to the considerable influence test certifications can have on consumers” purchasing decisions. This is particularly true of tests conducted by prestigious bodies or organizations. That is why the legislature has…

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Politics Law Society 

OLG Frankfurt on indication of origin for sparkling wine from Italy

OLG Frankfurt on indication of origin for sparkling wine from Italy Sparkling wine whose second fermentation phase occurs in Spain can still be advertised as a product that comes from Italy. That was the verdict of the Oberlandesgericht (OLG) Frankfurt – the Higher Regional Court of Frankfurt – in a ruling from September 11, 2020 (Az.: 6 W 95/20). A sparkling wine can be designated as an Italian product if the grapes were harvested and made into wine in Italy, even if the second phase of fermentation and the associated…

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Politics Law Society 

OLG München: Golden color not protected as trademark acquired through use

OLG München: Golden color not protected as trademark acquired through use The golden color of a chocolate Easter bunny is not protected as a color mark. The Oberlandesgericht (OLG) München – the Higher Regional Court of Munich – found that the producer in question did not enjoy any trademark rights in relation to the color. In the weeks leading up to Easter, supermarket shelves are stacked with chocolate bunnies. One producer has been packaging its chocolate bunnies in a gold-colored foil for many years. We at the commercial law firm…

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Politics Law Society 

How Optimization Variables form Maximization

In global competition, the interests play a very important role so that the calculation of profit, loss and return becomes an increasingly sensitive consideration. Kunto Wibowo AP has analyzed optimization variables to form the maximization in relation to the level of maximum achievement. His book ” Geostrategy And Strategic Environment. Optimization Variables Form Maximization” was published in August 2020 at GRIN Publishing. The level of productivity produces maximum benefits to provide maximum usefulness. To prove the maximum is not something that produces maximum performance. Instead, the optimal is what will…

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Politics Law Society 

Rocket Internet delists its shares – Shareholders facing huge losses

Rocket Internet delists its shares – Shareholders facing huge losses Rocket Internet has decided to delist its shares, with the shareholders having approved the buyback offer at the extraordinary general meeting held on September 24, 2020. The move came as little surprise following repeated speculation surrounding Rocket Internet”s delisting. It is expected to be effected by as early as November after around 81 percent of the shareholders approved the buyback offer, a result that was to be expected given that the founder and CEO of the company owns a large…

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Politics Law Society 

G999 – World Sensation by Josip Heit and GSB Gold Standard Banking on German Unification Day

Exactly 30 years ago, something happened that many people thought impossible just a short time before: Two German states joined together to form one country. Before that, Germany had been divided for many years. Against this background, we ask the business leaders of the Federal Republic of Germany what they know about the Day of German Unity. We ask Josip Heit, Chairman of the Board of Gold Standard Banking Corporation AG, which is based in the traditional port of Hamburg. Mr Heit, what do you know about the Day of…

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Politics Law Society 

Wirecard AG – Investigations on suspicion of market manipulation

Wirecard AG – Investigations on suspicion of market manipulation The Munich Public Prosecutor”s Office has conducted a search of Wirecard”s head office in Aschheim near Munich on suspicion of market manipulation. The raid that took place at Wirecard”s head office on June 5, 2020 appears to have been in response to a criminal charge lodged by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) – Germany”s Federal Financial Supervisory Authority – concerning ad-hoc announcements made by the company on March 12 and April 22 of this year. When considered in connection with a…

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