"This guide provides detailed overviews of the substantive law surrounding restrictive covenants in jurisdictions throughout the Americas, Europe, and Asia"--

The globalisation of the world economy poses significant challenges for policy makers, regulators and legal professionals. The Asian and Brazilian financial crises have shown that difficulties in the banking sectors of some economies can have serious repercussions across world financial markets. It is clear that a sound legal infrastructure is crucial to promote financial stability in this global market. Particularly in the case of international bank failures, the need for harmonised and effective international insolvency procedures is becoming increasingly apparent. It is against this background that the Bank for International Settlements organised a workshop on International Bank Insolvencies in the summer of 1998. This unique book presents the edited workshop papers by expert lawyers from over twenty national central banks, the European Central Bank, the Basle Committee on Banking Supervision and the UN Commission on International Trade Law. Nineteen country reports provide a comprehensive overview of central banks and other institutions responsible for banking supervision and the co-ordination between authorities involved in insolvency procedures. The authors further discuss the instruments employed for crisis prevention and resolution and issues arising in the aftermath of a bank failure in the respective jurisdictions. In addition, twelve expert papers discuss issues ranging from specific national experiences to attempts at co-operation and harmonisation at regional and international level. The book further includes in an annex the text of the UNCITRAL Model Law on Cross-Border Insolvency and the EC Finality Directive.

Trade secrets and post-contractual non-compete clauses (restrictive covenants) are intrinsically linked issues when analysed in the context of past and present employment. While trade secrets have been the object of legislation in a number of major jurisdictions during the last couple of years, post-employment restrictive covenants have been left out of such legislative activity. Still, they have come under increasing scrutiny of economists and may well come into legislative focus in the near future. As the chapters of this book highlight in detail, the approach to the protection of trade secrets, the conditions under which an employer can protect trade secrets and other business interests by way of a restrictive covenant, and the scope within which former employees by using the skills and knowledge can compete with a former employer, hugely differ from jurisdiction to jurisdiction. This is not only so for the effective scope, but also for the underlying doctrinal reasons, making a country-by-country comparison difficult, and a common structure of the chapters a challenge. After all, the topic involves international law (Paris Convention, TRIPS), domestic labour law, domestic sui generis protection, and, most importantly, domestic competition and unfair competition law, a field that up to now has defied all attempts of harmonisation beyond those categories as identified by Friedrich Zoll and implemented as Art. 10bis in the Paris Convention. This book features both comparative and country-specific chapters. The latter cover the major jurisdictions of Europe and Asia, while the former provide a subject-matter analysis by taking into account legislation and case law in a global context.

Presents a set of positive changes in corporate strategies, industry norms, regional policies, and national laws that will incentivize talent flow, creativity, and growth.

Covenants Not to Compete

Saving the Neighborhood tells the charged, still controversial story of the rise and fall of racially restrictive covenants in America, and offers rare insight into the ways legal and social norms reinforce one another, acting with pernicious efficacy to codify and perpetuate intolerance. The early 1900s saw an unprecedented migration of African Americans leaving the rural South in search of better work and equal citizenship. In reaction, many white communities instituted property agreements—covenants—designed to limit ownership and residency according to race. Restrictive covenants quickly became a powerful legal guarantor of segregation, their authority facing serious challenge only in 1948, when the Supreme Court declared them legally unenforceable in Shelley v. Kraemer. Although the ruling was a shock to courts that had upheld covenants for decades, it failed to end their influence. In this incisive study, Richard Brooks and Carol Rose unpack why. At root, covenants were social signals. Their greatest use lay in reassuring the white residents that they shared the same goal, while sending a warning to would-be minority entrants: keep out. The authors uncover how loosely knit urban and suburban communities, fearing ethnic mixing or even “tipping,” were fair game to a new class of entrepreneurs who catered to their fears while exacerbating the message encoded in covenants: that black residents threatened white property values. Legal racial covenants expressed and bestowed an aura of legitimacy upon the wish of many white neighborhoods to exclude minorities. Sadly for American race relations, their legacy still lingers.