RESEARCH

DeBund | An Analysis of the Effect of Liability Limitation Clauses

Guo Yaojie2020-10-22 14:43:14
Businesses may encounter contract risks in the course of regular business operation. Increasingly more businesses have become aware of the importance of risk prevention and started to put focus on risk control and prevention. Liability limitation clauses are often seen in contracts. What do liability limitation clauses mean? How do they work? What about the invalidity of liability limitation clauses in contracts?
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DEBUND LAW REVIEW
Businesses may encounter contract risks in the course of regular business operation. Increasingly more businesses have become aware of the importance of risk prevention and started to put focus on risk control and prevention. Liability limitation clauses are often seen in contracts. What do liability limitation clauses mean? How do they work? What about the invalidity of liability limitation clauses in contracts?
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Recently a dispute arose from an advertisement contract between Tencent with an excellent legal team and Lao Gan Ma, a well-known chili sauce business. Shortly after that, numerous comments appeared on the internet, including professional legal advice on business risk control. Generally, there are two pieces of advice. 1. Counsels are advised to conduct due diligence investigations and take other necessary actions to ascertain the authenticity of official seal. 2. “No goods should be delivered before payment for the goods is made.” Lawyer Ying Huafu gives his opinions on this case to business risk control managers based on his practical experience for years and known facts about the case that are supposed to be true.
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Shareholder name removal rules were first used by unlimited businesses such as partnerships. No shareholder name removal clauses are included in the Chinese Company Law. The legal interpretation 3 of the Company Law 2011 states that shareholders who withdraw or fail to pay all their capital contributions can be removed from the company’s shareholder list by making a shareholder resolution. Few legal authorities have decided to terminate a person’s shareholder status accordingly since the legal interpretation was published. I advised on a shareholder status termination case in 2015, in which the parties involved had completed formalities for termination of the shareholder status with the administration for industry and commerce concerned after the court judgement came into force.
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Online education is becoming increasingly more important to education and training industries due to the impact of Covid-19. There are many online education platform developers and online education platform software products launched. Some software brands are copied from others. Therefore, for online education platform software developers, giving a protection for intellectual property rights in their online education platforms in all respects is the only way to gain more core competitive advantages and succeed in today’s market.
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DeBund is a partnership law firm mainly providing legal services concerning foreign affairs. It is also a patent agency, which structure has been granted by the State Intellectual Property Office.
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