LEGAL ENVIRONMENT OF BUSINESS Essay Example | Topics and Well Written Essays - 750 words

LEGAL ENVIRONMENT OF BUSINESS - Essay Example True indeed as the article asserts, Russia has proved to be a developing growth market whose legal environment has constantly changed in the recent past. The country has in the recent past experienced an increase in activities involving corporate transactions of different types including not only public listings, but also mergers, acquisitions and joint ventures, consolidation and also restructuring. The result of these development have been far reaching especially from the legal front telling from the rising number of high profile disputes involving mostly Russian parties who numerous studies have indicated to be favoring either the English courts or other arbitration venues outside Russia for resolution of the disputes. This article despite not being very comprehensive in nature, the opinions provided has been presented in quite a general way making it worth for reference by any interested persons. While discussing the changing legal environment, the current state of affairs in Rus sia has been clearly brought out. Among the issues analyzed include the various changes to the Russian legislation and the impacts which they may have. One notable effect discussed on the article is the non appreciation of Russia to what the country regards as interference by foreign courts which is a clear indicator of the importance of the companies that wish to enter into transactions relating to business in Russia having a clear understanding of the local practical, legal and procedural issues (White & Case, 2012). The article has also been very effective in identifying the various trends that are associated with joint venture and the other transactions in Russia. Truly as asserted by Andrei Dontsov in the article that most offshore JVs are usually governed by an English law shareholder agreement, this is indeed a true reflection of what is on the ground as widely documented by different research findings on the topic. The issue of upcoming changes in Russian law has been well a nalyzed in the article. The article has been successful in outlining the various amendments to the Russian Civil Code that are under consideration by the Russian parliament whose main aim is to introduce new legal concepts familiar to lawyers from other jurisdictions (White & Case, 2012). While analyzing the issues to do with enforcing one’s rights as regards to Russia-related transactions, the article has been very successful in reiterating the importance of the investors doing business in Russia to keenly following the various developments with high likelihood of impacting the investor’s rights in instances where there may arise disagreements between the parties. This has been clearly brought out in the article especially to the extent where there is no appreciation of interferences and the implementation of various measures that are mainly aimed at addressing the interferences. The article has also been very successful in addressing the issues regarding the enforcem ent against assets within Russia. Among the issues that have clearly come out include whether arbitration can be relied upon to resolve disputes and key issue of concern being there can be enforcement of arbitration award obtained outside Russia (White & Case, 2012). Another issue of concern that the article clearly brought out was mostly related to one-sided optional dispute resolution clauses that is mostly common in finance transactions while at the same time operating to give the different parties