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Manage your Business Risks with Due Diligence in Guatemala

Manage your Business Risks with Due Diligence in Guatemala

When doing business in Guatemala, managing your business’ risks with due diligence practices is essential to its success and longevity.Language and/or cultural barriers, understanding the market and the way of handling businesses are challenges that foreign business owners face when expanding abroad. Buying existing companies or partnering with locals are key ways to reduce these challenges and get support navigating an unfamiliar market. However, it’s imperative to protect yourself when undertaking either of these processes by conducting thorough due diligence checks in Guatemala of the companies and people you will surround yourself with.Find out more about due diligence in Guatemala and how to manage your business risks. What is due diligence in Guatemala?  Due diligence refers to the process of thoroughly reviewing and analyzing available information of a company. Due diligence refers to the process of thoroughly reviewing and analyzing available information of a company. The focus of this analysis is primarily set on economic, legal, tax and financial circumstances of a company.  What is the purpose of due diligence?  The general purpose of due diligence is to conduct a risk assessment as part of the process of buying a company, hiring new staff or partnering with other organizations. However, conducting due diligence in Guatemala brings more advantages.The main objectives of a due diligence analysis are:  Reduction of information asymmetries between buyer and sellerEstablishing a basis of trust between buyer and seller through transparencyAnalysis of...

How to Register a Trademark in Belize

How to Register a Trademark in Belize

Registering a trademark in Belize brings many advantages to a business, as it protects the distinctive signs their consumers recognize them by. Belize has established as one of the largest economies in Central America with a stable currency and pro-investment governmental policies. For companies that expand their business operations to Belize, registering a trademark is essential in order to remain competitive and build a unique brand in Belize’s market.A registered trademark in Belize grants you full protection, control and exclusive rights to your intellectual property. The article outlines significant steps to register a trademark in Belize.  Where to register a trademark in Belize The applicant can either choose the online or the in-person procedure. The Belize Intellectual Property Office (BELIPO) is the National Intellectual Property Registry for Belize. This office is in charge of the intellectual property legislation and the promotion of such in Belize. Through the BELIPO, the applicant can submit the application to register a trademark in Belize and hence, obtain a trademark registration certificate. Trademarks in Belize According to the Trade Marks Act (Cap. 257), a trademark is a unique graphic sign distinguishing a company's goods and services. This signs may consist of words, personal names, designs, images, numbers or the shape of the goods and/or their packaging. This definition of a trademark also includes following: Collective mark: Is used to distinguish the goods or services of members of an association from the goods or services of...

What are the Labor Laws in Chile?

What are the Labor Laws in Chile?

Understand the labor laws in Chile in order to make hires and manage employees in full compliance with local regulations. Chile is a long and narrow country caught between the Andes Mountains and the Pacific Ocean. It is characterized by its strong, transparent and stable economy with good growth prospects for the future. Labor laws in Chile, alongside the country's entire legal framework, provides important guarantees for foreign investors looking to enter the diverseand liquid domestic markets. In addition, Chile has a mature financial market which is quite receptive and dynamic. We outline the most significant aspect of labor laws in Chile for businesses to be aware of when hiring staff. Legislation outlining labor laws in Chile Labor laws in Chile come primordially and originally from the Chilean Labor Codex or Código del Trabajo (DFL 1). Labor laws in Chile are outlined in the framework that regulates labor relationships and bonds between employers and employees. In most common law jurisdictions, labor law is a term which usually finds its application in regard to the rights and duties/responsibilities of unionized employees within a company. Labor laws in Chile come primordially and originally from the Chilean Labor Codex or Código del Trabajo (DFL 1). This codex states on its preliminary articles that it will regulate labor and work relationships between employers and employees. Each of the 5 books in the Codex regulates a specific topic: The individual labor or employment contract and trainingProtection for employeesUnionsCollective negotiationsLabor jurisdiction....

Belize Strengthening International Trade Relations

Belize Strengthening International Trade Relations

Belize is making great efforts to strengthen its international trade relations and attract new business to its shores. The focus is on both existing and new trade relationships.The Belizean government undertook several country visits, meetings, and other engagements in order to strengthen its international ties with significant partners. We outline the most recent and most important international trade relationships developing in Belize.  Overview: Belize international trade relations Belize is focussed on furthering trade relationships with a number of key partners, including Mexico, Florida (US) and Taiwan. Trade relationship with Mexico in construction sector development  A delegation from the Belizean government visited Merida City in Mexico for technical exchange. The Ministry of Housing and Urban Development aims to strengthen Belize's trade relations with Mexico regarding construction sector development. The 2 countries are progressing through a Building Sector Reform Project in partnership with the Belizean Economic Development Council. The goal of that project is to improve and modernize the business climate and sustainability of planning and developing within the Belizean construction sector. As part of developing the Belize-Mexico trade relationship, a delegation from the Belizean government visited Merida City in Mexico for technical exchange. The delegation assembled with the Merida City Council and the Department of Urban Development. The purpose of this exchange was to strengthen the institutional capacity of key public agencies in the areas of...

New Road Map Aims to Support Argentine Economy

New Road Map Aims to Support Argentine Economy

A new economic ‘road map’ aims to support Argentina’s economic situation. On 22 February 2020, the director of the International Monetary Fund (IMF), Kristalina Georgieva, and Argentina's Minister of Economic Affairs Martín Guzmán agreed to renegotiate the South American country's debt agreement during the G20 summit in Saudi Arabia.This article outlines Argentina’s perspective on escaping its financial challenges with the establishment of a new economic road map. Argentina and IMF agree on new economic road map Both Argentina and the IMF are willing to cooperate in order to find a solution to the Argentine debt crisis, which the IMF considers to be "unsustainable" at current credit conditions. The debt is to be reduced to a level that is compatible with "manageable" financing and a "satisfactory" level of growth.  Private creditors were asked for "significant" debt cuts - a great relief for the current government of Alberto Fernández. The IMF didn't request budget cuts, which, according to Guzman, were not anticipated from the government until the elections in year 2023.The renegotiation includes a re-examination of the balance sheets of the Argentine economy, as provided for in Article IV of the IMF's founding agreement. This includes an analysis of the exchange rate policy against which the former presidents Néstor and Cristina Kirchner (2007-2015) resisted, and which was only carried out again under the mandate of the neoliberal government under Mauricio Macri.  Argentina’s economic challenges Argentina's debt to the IMF is currently around US$44 billion, of...

Argentina 2019 Elections: What’s in Store for Business?

Argentina 2019 Elections: What’s in Store for Business?

On 11 August, all Argentinians between the ages of 18-72 underwent the compulsory vote of the presidential primaries (PASO). Results surprised most with Alberto Fernandez taking an extensive lead over the incumbent president, Mauricio Macri. Fernandez achieved nearly 48% of the popular vote whilst Macri only managed 32%, a vastly different picture than that painted by polls in the lead-up. With such a dominant candidate in the primaries, earning close to half of the popular vote, it will be the election on 27 October which will decide the country's new President. Macri’s chance lies with convincing voters of outlying candidates to switch to him in the election in order to close the gap and hope that some voters desert Fernandez to reduce him to less than 45%. In this circumstance, a two-horse race runoff would be the decider with the highest voted candidate assuming office. Argentine Elections - Economic Overview Argentina has historically struggled with developing a stable economy. Inflation runs at more than 50%, unemployment is up above 10% and the purchasing power of salaries is fickle. Many reports therefore believe this is the most important election in Argentina’s history for resolving the country's economic struggles. At the center of all political campaigns is an economic vision and a business plan for the country’s future, and it is this area of policy that must be scrutinized for its potential to lift the economy up. Argentina is in need of a national consensus around building a sustainable, long-term growth plan. Both Macri and Fernandez present different...

Latin America and Asia Offer Great Potential for Business Connectivity

Latin America and Asia Offer Great Potential for Business Connectivity

Before 2000, there was little trade between Asia and Latin America. Nowadays, solid economic performance in both emerging economies creates a favorable outlook for trade between the two regions. Due to complementary competencies and resources, support for interregional commercial relations has grown. Subsequently, trade and investment levels have accelerated, as both continents continue on their journey of economic growth.  Latin America is an appropriate market for Asia’s competitively priced goods, services and technologies. Asia’s economic expansion requires large imports of raw materials and agricultural goods, in which Latin America is abundant. Two Unlikely Partners Asia and Latin America are separated by large physical distances, time zones, cultures and languages. Despite this, an increasing number of academic and cultural exchanges through institutions, tourism and media are helping to bridge the distance between these two diverse regions. Many elements are necessary to support deep-rooted and sustainable economic integration. However, as many Latin and Asian economies look to lessen their dependence on the United States and China, inter-regional trade is a promising solution. Commercial relationships between Latin America and Asia are growing as trade continues to increase. Asia is now the second largest customer of Latin American exports. Furthermore, investment is thriving between the two regions. Currently, the most prominent Asian countries in Latin America are China and Japan. We take a look at the current trading situation between the regions and what...

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