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ESOP – An Effective Method for Businesses During Economic Crises

ESOP (Employee Stock Ownership Plan) is an increasingly popular and widely used method in large corporations in Vietnam (such as FPT, Mobile World Group, Novaland, etc.). In addition, if you know how to take full advantage of ESOPs, not only large companies, corporations, but also ordinary private companies will also have their own advantages when using ESOP as an effective method in the current economic crisis. Especially Startup companies, that are in the stage of starting a business in general. 1. Why does ESOP prove effective for startups during economic crises? In contrast to large corporations, even though “lay-offs” may occur, the remaining workforce remains their motivation to continue committing and contributing to the company. This is due to long-standing cultural values, from supportive compensation policies, or faith in a swift recovery based on the company’s robust economic capabilities.  However, for startups, the situation is different. These companies are in thei...

Salary regime during the probation period

Currently, the majority of employees go through a probationary period before signing a labor agreement to become official employees. The salary regime is one of the particular concerns for employees during this period. It is also important for employers to address this issue legally to establish a good image for their company and limit the possibility of being subjected to administrative sanctions. This article will analyze some basic issues of the salary during the probationary period, including: Salary rate; Wages for overtime and night work; Is the regulation on minimum working time to receive probationary salary legal? 1. Salary during the probationary period Under Article 26 of the Labor Code 2019, the salary during the probationary period must not be lower than 85% of the salary rate of such a job. The specific salary will be agreed upon by the employee and the employer and recorded in the probationary agreement or labor agreement. In case the employer pays the employee during...

What you need to know when transferring trademarks in China

1. Conditions for the Transferor To carry out the transfer of a trademark, the transferor must be the owner of the trademark as recorded on the Trademark Registration Certificate or the applicant of the pending trademark application (in the case of transferring an application). The name of the trademark owner on the certificate must match the name of the transferor in the transfer application. A common issue arises when the transferor has changed its name but has not completed the procedure to update the owner’s information on the Trademark Registration Certificate, resulting in the transfer application being rejected. In such cases, the transferor must update the new name on the Trademark Registration Certificate before proceeding with the trademark transfer.  2. Conditions for the Transferee   The transferee must meet the condition of being the owner of the trademark as stipulated by Chinese trademark law. 3. Conditions for transferred trademarks    The tradem...

Is the employee’s resignation agreement or unilateral termination of the labor contract?

Currently, it is quite common for employees to proactively propose to terminate their labor contracts. Therefore, both employees and employers need to clearly understand the legal regulations on this issue to ensure their rights and limit disputes.   1. Determining whether the resignation is the agreement or unilateral termination of the labor contract   First of all, the employee can propose orally or in writing in the form of a resignation letter. In reality, resignation in writing is often preferred to limit future disputes. Therefore, within the scope of this article, the author will focus on analyzing the case where the employee submits a resignation letter or other equivalent documents to terminate the labor contract.  The content of the resignation letter is a factor in determining whether the employee desires to agree or unilaterally terminate the labor contract. As follows:   Firstly, in the case of the agreement to terminate the labor contract...

Notes for transfer of contracts for purchase and sale of residential houses to be formed in the future

Contracts for purchase and sale of residential houses to be formed in the future ( residential housing currently in the process of investment in construction which has not been tested and commissioned for use1 ) are becoming popular due to the need to raise capital of the developer (“ Developer “) and the need for accommodation of individuals, household, … (“ Buyer ” or “ Transferor “). In some cases, after the Buyer and the Developer have completed the conclusion of contracts for purchase and sale of residential houses to be formed in the future (“ Contract “) and during the time the housing is under construction, the Buyer is no longer interested in buying the house and wishes to transfer it to another party (“ Transferee “). This article gives some considerations to the parties involved when transfering the Contract, applicable to commercial residential housing, in accordance with the current law as of 02 May 2024. 1. Conditions for transfering contracts for purchase and sale of re...

Apolat Legal – Startup and Investment Promotion Center of Ben Tre Province – IP Cozula

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On Wednesday, July 10th, Apolat Legal coordinated with the Startup and Investment Promotion Center of Ben Tre Province and IP Cozula to organize a training program titled “Tax Legal Knowledge Training Class and Contracts for Newly Established Enterprises and Business Households Transferred to Enterprises” in Ben Tre City.  Representing Apolat Legal as a keynote speaker was Lawyer Nguyen Minh Tien (David), with support from Ms. Nguyen Phuong Anh, Associate at Apolat Legal.    Apolat Legal hopes that after Lawyer Tien’s sharing session, delegates from local businesses and cooperatives can update their legal knowledge on taxes, contract regulations, and the signing of electronic contracts according to the Law on Electronic Transactions 2023 and apply it to their operations.  Nguồn: https://ift.tt/mPcLBb3 Map: https://goo.gl/maps/JbCF1FiWPuD2Jsnx6 Thông tin: https://www.google.com.vn/search?q=Apolat+Legal&kponly=&kgmid=/g/11jkvqgmw_

Labor contracts of foreign workers working in Vietnam are void due to lack of a work permit

A work permit is one of the essential conditions for foreign workers to work in Vietnam. However, in reality, many foreign workers sign and perform labor contracts with employers even without a work permit. When a dispute occurs, especially in cases where the employer unilaterally terminates the labor contract, the signed labor contract is inherently invalid. Therefore, the employee cannot effectively protect their rights.  1. Foreign workers working in Vietnam are required to have a work permit   According to Labor Code2019, foreign workers working in Vietnam must meet the conditions of having a work permit issued by a competent Vietnamese State authority, except in cases not subject to a work permit as prescribed in Article 154 of Labor Code 2019.1 Based on the issued work permit, foreign workers will be eligible to sign a labor contract with a term consistent with the term in the work permit as prescribed in Clause 2, Article 151 of Labor Code 2019. Therefore, it can be s...