On March 22, 2023, the European Commission adopted a proposal for a new directive to prevent businesses from misleading their customers about the environmental characteristics of their products and services. The proposed Green Claims Directive (“GCD”) aims to provide consumers with valid, comparable, and verifiable information about the environmental impacts of the purchased products. The new rules will regulate various claims made by businesses regarding the environmental aspects or performance of their products or services that are not already targeted by other EU rules. GCD also regulates environmental labels, which provide information on the environmental characteristics of a product or […]
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“Machine intelligence is the last invention that humanity will ever need to make.” – Nick Bostrom The history of artificial intelligence can be traced back to the 1950s, when researchers and computer scientists first explored the possibility of creating machines which could accomplish tasks typically performed by humans. Since then, AI has undergone several significant phases of development, each of which has been marked by essential landmarks and milestones. In 1997, IBM’s Deep Blue computer famously defeated world chess champion Garry Kasparov. In recent years, AI has seen the development of deep learning and neural networks capable of processing […]
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Our Senior Associate Miloš Petaković had a live guest appearance in the afternoon Zoom In program on Bloomberg Adria TV last week. As part of a panel of experts, he was invited to comment on the new proposal to amend and supplement the Serbian Planning and Construction Act and clarify the proposed changes, mainly as they apply to businesses and the economy. Miloš explained the importance of the changes in the treatment of land conversion and related charges. These are set to resolve a long-standing issue that has been an obstacle for many businesses. The changes are expected to open new […]
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Gecić Law is pleased to announce that it became the first independent law firm in the Adria and Balkans region to launch a stand-alone practice in AI & Robotics. The new practice area will focus on the opportunities and challenges of emerging technological advancements transforming the business world and our daily lives, including artificial intelligence, machine learning, robotics and data analytics. The new practice will focus on the needs of businesses developing and applying solutions in this increasingly prominent area. Founding Partner Bogdan Gecić will head the practice. Gecić Law’s AI team will provide clients with expert guidance and develop […]
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Our Founding Partner, Bogdan Gecić, spoke on Friday at the Third Digital Day online conference organized by Universita Degli Studi Firenze for the third consecutive year on March 10-11, titled “At the Roots of Digitalization: A New or Renewed World.” Bogdan was honored to speak at the opening session of the first day dedicated to regulation in the digital field, moderated by Professor Alessandro Luciano of the Universita Degli Studi Firenze. Carmelo Barbagallo of the Autorita di Supervisione e Informazione Finanziaria, ASIF of the Vatican City delivered the introductory remarks to the session. Insightful presentations were delivered by illustrious speakers […]
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In February, the Parliament of the Republic of North Macedonia ratified the Agreement on the Conditions for Free Access to the Labor Market in the Western Balkans and the Agreement on the Interconnection of Schemes for Electronic Identification of the citizens of the Western Balkans as part of the Open Balkans initiative. Both agreements were signed in Tirana on December 21, 2021, by the President of the Republic of Serbia, Aleksandar Vučić, the Prime Minister of the Republic of North Macedonia, Zoran Zaev, and the Prime Minister of the Republic of Albania, Edi Rama. The Agreement on the Conditions for Free Access to […]
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Sustainable investing has gained significant momentum in recent years as environmental, social, and governance (ESG) principles rose to the top of the corporate agenda. However, there has recently been growing backlash to ESG investing from multiple stakeholders, including politicians and industries, particularly in the US. This anti-ESG sentiment has become a significant performance risk for many investment firms on Wall Street. Heavyweights, such as BlackRock, Blackstone, KKR, and T Rowe Price, have cautioned in their annual reports that divergent views on ESG investing could hurt their financial performance. These warnings follow pressure caused by an accelerated campaign supported by top-ranking […]
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Our colleagues and senior associates Nemanja Sladaković and Miloš Petaković presented at the AgTech Supercluster Meet-up event at the ICT Hub yesterday two new publications they helped create as part of Gecić Law’s collaboration on a project led by the Serbian Chamber of Commerce and financially supported by the GIZ project for the development of the private sector in Serbia, part of the German-Serbian development cooperation. The two guides provide valuable insights to help startups grow and succeed in the highly competitive IT industry. The first publication is a practical guide focusing on legal aspects that IT startups need to […]
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The energy crisis and rising costs are not the primary driver but have certainly accelerated discussions on energy sustainability. Responsible companies and real estate developers are already implementing construction strategies that enable energy sustainability and qualify for certificates such are LEED and BREEM. As the market is turning greener, real estate developers are motivated to do so: it increases the demand, secures financing, and provides an overall better company image. But what about old buildings? Either built before there was awareness of the need for energy savings or just losing the battle with time, old buildings maintain energy spillage, which […]
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Amendments to the Tax Procedures and Tax Administration Act (“Act“) were adopted and entered into force on December 20, 2022. The following is a reminder of the most significant changes you should keep an eye on. (Non)postponement of the enforcement procedure The legislator removed paragraph 6 from Article 77 of the Act through the amendments. This article stipulated that the Tax Administration would only initiate compulsory enforcement after a decision had been made on a taxpayer’s request to postpone tax payment. This move implies that the Tax Administration may, without restrictions, initiate enforcement proceedings even though a request for tax deferment has […]
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