Starting from July 1, 2023, the newly adopted Horizontal Block Exemption Regulations on Research and Development Agreements (“R&D“) and Specialisation agreements (together “HBERs“) shall take effect in the EU. The essence of HBERs, and the accompanying Horizontal Guidelines (“Guidelines“), is to facilitate the self-assessment of the most common types of horizontal cooperation agreements. They are also well-known as a safe harbor to undertakings, for as long as the latter comply with the rules set in the HBERs, leading to block exemption of such agreements from the competition rules. The novelties in said pieces of legislation offer a more flexible approach […]
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Gecić Law is delighted to announce its contribution to the renowned CEE Legal Matters Comparative Guides to Central and Eastern Europe series. This time, our expertise shines in the field of Banking and Finance, marking another milestone in our commitment to providing comprehensive legal insights. Our team, comprising Senior Associate Miloš Petaković and Associate Teodora Ristić, worked on the chapter dedicated to Serbia, shedding light on the legal framework governing the country’s financial services sector. With a comprehensive analysis of relevant legislation, the chapter offers essential information contributing to a detailed understanding of Serbia’s financial services landscape. The Banking and […]
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The Government of Serbia has adopted the proposed Act on the Management of Enterprises Owned by the Republic of Serbia, which foresees the transformation of public enterprises into joint-stock or limited liability companies. Twenty-three public enterprises are thus set to change their legal form. A complete automated English translation of the Draft Act is available here. In this transition, the equity capital of a public enterprise will be converted into shares or stakes, depending on the legal form. The change maintains the public enterprise’s legal subjectivity and business identity without liquidation or interruption of legal continuity, retaining its identity in […]
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In this second installment of our series focusing on the risks posed by artificial intelligence (AI) and the legislative initiatives in the US to address them, we will be examining the proposed AI Bill of Rights. The transformative impact of AI on our world is evident, from self-driving cars to facial recognition software. As AI technology gains potency, we must consider its potential implications for human rights. In response, the White House Office of Science and Technology Policy (OSTP) has released a Blueprint for an AI Bill of Rights (The Blueprint). The Blueprint outlines five essential principles for the creation […]
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I. Strengths of the GDPR The General Data Protection Regulation (“GDPR”), implemented in 2018, has played a vital role in safeguarding personal data in the era of information and communications technologies (“ICT”). As AI technologies continue to advance rapidly, questions arise regarding the effectiveness and adaptability of GDPR in addressing the evolving challenges of data protection. This article examines whether GDPR is ready for retirement or if it requires updates to address AI-related data protection concerns effectively. Namely, Artificial Intelligence (AI) is defined as a methodology used in machine learning to determine which one of several used models has the […]
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The Serbian government announced that it is looking for a strategic partner to develop a minimum of five self-balancing solar power plants with a total installed capacity of 1,000 MWac (or 1,200 MWdc) and a battery storage system with a minimum total installed capacity of 200 MW and the ability to accumulate at least 400 MWh of electric energy. The full text of the Decision of the Government of the Republic of Serbia in English is available here. The strategic partner will design, develop, build, and maintain the project before transferring ownership to the public power utility company (EPS) on […]
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In a landmark gathering at the White House, some of the most influential CEOs and leaders in artificial intelligence (AI) convened for a crucial discussion on responsible innovation and mitigating AI risks. The meeting, organized to foster collaboration and cooperation between the government and the private sector, brought together renowned figures from technology giants and AI-focused companies. In the series of articles we present to you, we will deal with the US legislative initiatives behind the above meeting, which concern various risks of using AI. Block Nuclear Launch by Autonomous AI Act In recent years, the rapid development of AI […]
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Last week, Branko Gabrić, our counsel, had the honor of being invited to speak at the South-East European Data Protection Congress in Belgrade. The congress was held to establish a forum for data protection professionals to facilitate the exchange of ideas, opinions, updates, experiences, and the application of best practices, ultimately boosting the data protection scene in the region. Branko participated in the central panel on the first day of the conference, which focused on “Transparency – Can Organizations Ever be Too Transparent?”. Alongside him were Boško Vojkić, Director of Data Protection at Ergomed PLC; Stevan Stanojević, founder of PrivacyOneStop; […]
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The landscape of business registration in Serbia is changing, catalyzed by the advent of digital technologies. As of May 17, 2023, Serbia is set to embrace a comprehensive digital transformation by mandating all business entity registrations to be conducted exclusively via the Business Registers Agency’s (APR) eRegistration application. This move will render paper-based applications obsolete, bringing greater efficiency and practicality to the business registration process. This transition applies across the board to all legal entities in Serbia, including Limited Liability Companies (DOO), General Partnerships (OD), Limited Partnerships (KD), and Joint-Stock Companies (AD). This change not only streamlines administrative procedures but […]
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As part of the ongoing collaboration between the Biosense Institute and Gecić Law, as a mentor, our Senior Associate Nemanja Sladaković led two workshops within the 10th Module of the Biosense Accelerator, the cutting-edge immersive program for the region’s early-stage and growth-stage AgTech startups. The in-depth workshop titled “Legal ABCs for Startups” aimed to educate participants on corporate law basics crucial for startups to know before incorporation and in the early stage of development. The workshop covered various legal branches such as contracts, employment law, ESG, intellectual property protection, and dispute resolution. The interactive and engaging session allowed participants to […]
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With technological advancements changing both how antitrust laws are enforced and how undertakings violate competition laws, the fourth industrial revolution and the rapid growth of AI continue to affect this area of law, as many others. It is impossible to ignore the potential for AI to conquer markets and its ability to spot and fix basic market balance violations. Despite the benefits of technology for customers, it also threatens their interests by distorting market dynamics and impacting competition. Threat Using AI presents a potential risk as it allows for price collusion through price monitoring and algorithmic matching software. While […]
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Bogdan Gecić, Founding Partner at Gecić Law, was invited by the prestigious directory The Legal 500 to discuss the legal aspects of Artificial Intelligence (AI) in an article titled “Rise of the Machines: Shaping the Legal Response to AI’s Rapid Expansion,” published on Legal Business. The article discusses the rapid expansion of AI and its implications. Bogdan argues that the legal world is on the cusp of a major transformation driven by AI technology and explores its benefits, including improved efficiency, accuracy, and reduced costs. He also acknowledges the potential risks and ethical concerns associated with AI, such as data […]
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The Western Balkans ESG Summit starts tomorrow! Gecić Law proudly announces its participation in the first regional event dedicated to environmental protection, social responsibility, and responsible management (ESG). The summit will be held on April 27th and 28th, 2023 in Tivat and will focus on sustainable development issues in the Western Balkans. The Western Balkans ESG Summit will bring together regional and global leaders and experts in sustainable business who will address this global paradigm shift and its impact on Southeast European markets. Gecić Law will participate in the ESG regulation panel, discussing the latest ESG regulations and their far-reaching […]
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Gecić Law is proud to announce an exciting collaboration with the BioSense Institute on a cutting-edge immersive program for the region’s early-stage and growth-stage AgTech startups. As part of the BioSense Accelerator Program, entrepreneurs and teams gain exclusive access to in-house resources and tech support, matchmaking, and networking opportunities, while being exposed to practical coaching from international and local mentors and trainers to achieve quick market readiness. A broad network is available to provide comprehensive support to startups, ranging from technical to business aspects of their development. Our Senior Associate Nemanja Sladaković will lead the program’s legal module, offering guidance […]
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Companies, primarily global corporations, may enjoy enormous power and influence. Their power comes mainly from the capital these companies have at their disposal, but also from other sources. And while the main focus is on whether the influence of companies can be limited, case law and international legislation have recognized certain human rights for companies. The most important legal document on human rights is the United Nations Universal Declaration of Human Rights. This document influenced most of the United Nations member states’ national constitutions after its adoption, as well as international documents such as the Council of Europe’s European Convention […]
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On Tuesday, the EU Parliament unleashed a legislative game-changer in the global climate battle, adopting the world’s first carbon border tax (CBAM). The MEPs also formally adopted the deals reached with the Council in December 2022 on several other critical pieces of legislation, including the closely-related revised EU’s Emissions Trading System (“EU ETS“) and a new Social Climate Fund (“SCF“), all a vital part of the EU’s Fit for 55 package, designed to help the bloc cut greenhouse-gas emissions by 55 percent by 2030 against a 1990 baseline. The CBAM complements the EU Emissions Trading System (ETS), addressing the phenomenon of […]
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Gecić Law adds another successful year to its story of excellence after achieving impressive rankings in the 2023 edition of the prestigious Legal 500 EMEA Guide, reflecting the firm’s world-class service and the expertise of its teams and individuals. For an impressive seventh year in a row, Gecić Law’s market-leading Competition practice has earned a Tier 1 status, with significant achievements in matters with far-reaching implications not only on the clients’ businesses but on the economies of the entire region, incorporating diverse aspects, including EU law, state aid and international trade. For a second year, the firm’s Founder and Managing […]
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We are pleased to announce that Gecić Law will proudly join the Western Balkans ESG Summit in Tivat, the first major regional event dedicated to Environmental, Social, and Governance (ESG) topics. The summit is scheduled for April 26 – 28, 2023, and will explore ways to promote sustainable development in the Western Balkans. At the summit, Gecić Law will share its widely recognized experience in ESG and sustainability matters as the first independent law firm in the region to launch a dedicated ESG legal practice. This pioneering work and unrivaled EU law expertise offer a unique perspective, valuable in understanding […]
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Intro Artificial intelligence (AI) is set to change how we perceive intellectual property. With the recent surge of AI, people are discovering that AI can generate works of art. This raises important questions, such as the attribution of authorship for these creations and the protection of intellectual property (IP) rights. We explore some critical issues regarding AI and its connection with IP here and offer potential solutions. We also provide insight into famous cases and trends that may be crucial for the further development of AI in IP rights. The Owner of the Copyright So, who is the author of […]
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The Novaston Real Estate platform and Gecić Law presented yesterday the unique publication Real Estate Development Guide, which results from the collaboration between the specialist teams of the two firms. The guide aims to help investors interested in real estate developers understand the process of investing in real estate based on the example of an office space construction project. It covers all process stages and offers a comprehensive overview of its requirements, including commercial and legal aspects. The guide is designed for domestic and foreign investors but is a useful tool for all those interested in the real estate market. During their interesting […]
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We are delighted to present the “Real Estate Development Guide – case study: office space,” the result of the collaboration between the expert teams of the Novaston real estate platform and the Gecić Law law office, which uniquely shows the process of investing in the development of an office building project. The Guide is a valuable tool for future real estate investors and anyone interested in learning more about the process and what is involved in developing successful projects in the industry. Click below to download the free Guide. Real Estate Development Guide
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Last Thursday, everything was about motivation and defeating the fear of failure! Our Senior Associate Nemanja Sladaković and his team organized a Motivational Evening titled: “Failure? Why not” as part of this year’s AmChamps 009 Program, where our young colleague is an active participant and proud mentor. In an informal atmosphere, recognized leaders from all walks of life, including Dejan Turk, CEO of A1 Serbia; Tatjana Vojtehovski, journalist; Vladimir Grbić, famous volleyball player and Marina Rakić, HR Manager at MK Group, spent an inspiring evening with program participants and shared their perspectives on all aspects of motivation. The AmChamps program […]
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Gecić Law is proud to announce that it has been recognized as a Recommended Firm in The Legal 500 Green Guide: EMEA 2023, making it one of only two firms in the Western Balkans to make the ranking. The guide recognizes law firms for contributing to the green transition by exploring their work for clients in connection with climate change mitigation and sustainability while highlighting their own internal best practices and green initiatives. Gecić Law was commended for launching its dedicated ESG practice, the region’s first by an independent law firm, and for its groundbreaking work in areas including environmental […]
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The article “Subjective Scope of Domestic Arbitral Award” by our Partner and Head of Dispute Resolution, Jovana Veličković, was published in the latest edition of the eminent publication Law and Economy of the Business Lawyers Association of Serbia. We bring here a summary of the article: Summary: Based on Article 64 par 1 of the Arbitration Act, the domestic arbitration award can legally affect only the parties and their legal successors (singular and universal). In relation to third parties, the award can affect only if the nature of the subject matter of the dispute requires it (effect erga omnes) or […]
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The Future Is Here! And it is here to stay. What we could only imagine some years ago is now part of our reality, and AI has become an ever-present topic. AI is everywhere, from banking and healthcare to transportation and entertainment. Learning more about the impact of these innovations makes us ask ourselves how this will alter our habits, make our everyday activities less cumbersome and affect our fundamental rights. So, let’s talk about AI’s pros(perity) and cons(istency) in protecting rights. Pioneering AI. The European Union (“EU” or “Union“) has set the first global comprehensive regulatory framework to apply to […]
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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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In December, the European Commission (“Commission”) issued a Statement of Objections (“SO”) to Facebook’s parent company Meta Platforms Inc. The Commission said that based on its preliminary view, Facebook had violated EU antitrust rules by distorting competition for online display advertising on social media linked to Facebook Marketplace. Marketplace, which Meta launched back in 2016, is a virtual place for Facebook users to discover, buy and sell just about anything, from vehicles, clothes, books, smartphones, and even property, within their local social community. The Commission’s preliminary theory of harm presented in the SO concludes that Meta abused its dominating positions […]
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Gecić Law is proud to have been a co-editor and the exclusive contributor for Serbia for the CEE Legal Matters Comparative Legal Guide: Corporate Governance 2023. The guide looks at regulations and industry standards that govern the operations of a corporation, as well as the legal responsibilities and obligations of the corporation’s management and board of directors. Additionally, it looks at the oversight and enforcement of these laws and regulations by government agencies and regulatory bodies. In the guide’s introductory foreword, counsel Branko Gabrić, explains, “On the one hand, corporate governance is essential as it is about controlling risks, ensuring regulatory […]
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We are happy to give a name to the values we stand for. Gecić Law is immensely pleased to announce that our own Hristina Kosec was elected partner at our firm. Hristina joined Gecić Law in 2019 and has since successfully headed Gecić Law’s operations, including the administrative, human resources, and business development functions. She oversees the development and implementation of the firm’s growth strategy, including planning, financial projections, and performance monitoring indicators. Hristina’s leadership has been instrumental in guiding the unprecedented growth and development the firm has experienced. As a partner, Hristina will leverage her legal background to increasingly […]
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EU and Western Balkans leaders gathered in Albania last December for the EU and Western Balkans Summit to discuss cooperation and EU perspectives of the region. The Tirana Declaration (“Declaration”) was signed between the leaders of the Western Balkans Six and the EU Member States, with representatives of the EU Council and the EU Commission. The document comprises specific initiatives to strengthen regional cooperation in parallel with the EU accession processes. One of the Declaration’s critical topics was the Western Balkans’ commitment to fully implement the Green Agenda and develop a carbon pricing policy in the context of the EU […]
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In her keynote speech at the 2023 World Economic Forum in Davos, Ursula von der Leyen, EU Commission President, outlined yesterday the main pillars of the EU’s Green Deal Industrial Plan to boost Europe’s leadership in green technology on its road to carbon neutrality. “We know we have a small window to invest in clean tech and innovation to gain leadership before the fossil fuel economy becomes obsolete,” said von der Leyen. As the plan’s regulatory pillar, she announced a new Net-zero Industry Act to support the “greatest industrial transformation of our times” and keep up with strongly incentivized programs […]
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As anticipated for some time in the previous months, while having been agreed upon between the EU institutions, the Foreign Subsidies Regulation (Regulation) finally saw the light of day on January 12, 2023. Its application will commence on July 12, 2023. The Regulation offers new tools for the European Commission (Commission) to investigate financial contributions from non-EU countries to companies operating in the EU to prevent distortions in the internal market. This specific State aid regime provides for an extended application of EU rules and the Commission’s competencies beyond the EU borders. One of the notable features is that the […]
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Bogdan Gecić, Founding Partner at Gecić Law, was quoted in Forbes, the leading global business publication, in an article titled “9 Effective Ways to Be Proactive About Customer Service”. Bogdan joined a panel of experts and shared his perspective on how to manage customer service effectively. “Understanding the client’s business deeply and thinking of their immediate needs ahead of time is essential. One must build a culture focused on adding value and finding solutions to issues beyond the obvious. It would be best if you always walked the walk, fulfilling your promises with conviction. Those are elements of winning customer […]
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At the beginning of last year, the Electronic Invoicing Act (“Act“) was passed, which entered into force on May 7, 2021. Since the Act brought significant changes to the Serbian economy, the application of some provisions of the Act is postponed, so the latest set of provisions will apply from January 1, 2023. It is when VAT payers must start issuing electronic invoices in all mutual transactions with other VAT payers from the private sector and transactions with public sector entities. Even in the very first stage of this Act, Gecić Law gave an insight into which novelties we can expect. The principal […]
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The European Union is fast-tracking the road to a greener future as EU institutions reach provisional agreements on the Carbon Border Adjustment Mechanism (“CBAM”) and the EU Emissions Trading System (“ETS”). After round-the-clock negotiations between EU officials, the “Fit for 55” legislative package with the ultimate goal of reaching carbon neutrality by 2050 is now being finalized. What are the implications for non-EU countries? EU’s Climate Action Recognizing the threats of climate change, the European Union adopted a range of climate laws, which includes the ETS and the CBAM, as part of the revolutionary “Fit for 55” legislative package. In contrast to the […]
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The end of the current year and the beginning of the new year bring changes in the form of a fee hike applicable to all legal entities covered by the Business Register Agency (“BRA“). The November Decision on Registration Fees and Other Services brought by the BRA of the Republic of Serbia increased fees for almost all services provided by the Agency (“Decision“). Among others, the Agency changed fees for registration of incorporation, data changes, registration of other data, and deletion of data. This change is of great importance to anyone planning any corporate changes, bearing in mind that the […]
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The Judgment of the European Court of Justice (“ECJ“) from November this year raised the issue of compatibility of proclaimed fundamental human rights with public registers of ultimate beneficial owners available to all interested parties (“Judgment“). According to the Fourth Anti-Money Laundering and Terrorist Financing Directive (the “Fourth AML Directive“), all European Union member states were obliged to make public the registers of beneficial owners of companies operating in their countries so that they can be accessed by any person who has a “legitimate interest.” Accordingly, in 2019, Luxembourg passed a law confirming this directive. It established a register of ultimate […]
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The European Commission (Commission) continues to work on implementing the Digital Markets Act (DMA). On December 9, 2022, the Commission published a draft regulation on implementing the DMA and annexes. Public consultations are currently underway until January 6, 2023. The Commission would like to consider the input of different publics and take on board their suggestions, comments, and proposals when finalizing this draft regulation. Feedback received will be published on the Commission’s website and must adhere to the rules for input and suggestions. To participate in the public consultation process, interested parties must register. The regulation aims to ensure fair, efficient, and complete […]
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Gecić Law is proud to announce the appointment of its Founding Partner Bogdan Gecić to the Board of Directors of the UAE and Serbia Business Club. The United Arab Emirates and Serbia Business Club announced that it had elected Bogdan Gecić to take on this important role in the prestigious organization at its annual Assembly held last week. The United Arab Emirates and Serbia Business Club was established in 2019 on the initiative of the UAE Embassy in Serbia and the most reputable companies from the UAE and Serbia. Gecić Law was among the founding members of the organization. The UAE and Serbia Business […]
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Our Founding Partner, Bogdan Gecić, took part in a webinar organized by the preeminent Israeli law firm Shibolet titled „The Effect of New EU Regulation on Israeli and Global Trade.“ The audience, primarily Israeli businesses in diverse industries, had the opportunity to hear from leading experts in both ESG and EU law and international trade about how the EU’s new ESG regulation may affect trade relations with the EU and what they can do to prepare. Galit Ofer, Partner at Shibolet, introduced the panel and provided an overview of the ESG agenda and the significance of EU-Israel trade relations. She […]
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Underscoring the importance of top-notch dispute resolution in strengthening the firm’s market-leading capabilities, Gecić Law is delighted to announce that Jovana Veličković is joining the team as a partner and head of Dispute Resolution. Jovana will continue building on the successes of the practice in complex litigation, regulatory proceedings, arbitration, and mediation, ensuring that our current and new clients benefit from the outstanding results and professional excellence of the renowned Gecić Law Dispute Resolution team. Jovana is a seasoned lead litigator with more than a decade of experience focusing on commercial litigation with a strong track record of representing and […]
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The final evening of the Empower IT contest was held last night at the Startit Center in Belgrade. Manpower organized the competition in cooperation with Gecić Law, the Faculty of Organizational Sciences, FONIS, Levi9, and TPA Serbia . The finalists had the opportunity to present their projects again to the jury, who then voted and announced the competition’s winner. The winning team was 3 Pixels which won a prize of 150,000 dinars for their project Check and Connect. The Empower IT competition allowed young IT and business experts to apply their knowledge and skills to solve specific IT problems and […]
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A significant and long-awaited day for Bosnia and Herzegovina! As announced by the Council of the EU, the EU General Affairs Council recommended granting the candidate status to Bosnia and Herzegovina. The European Council will make the formal decision on Thursday, December 15, at the summit of the leaders EU’s 27 in Brussels. It’s been six years since the country submitted its formal application for full membership in the EU back in 2016. The process is now nearing its conclusion, and yet another Western Balkans country is about to reach its primary goal – attaining candidate status as an essential step […]
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Our colleague Nemanja Sladakovic took part on Friday in a panel discussion titled “Expert talks – How to measure sustainability? News that will influence sustainability reporting cycles”, held as part of the CSR Forum organized annually by the Responsible Business Forum. Panelists discussed how sustainability is measured and what changes will affect ESG reporting cycles. Nemanja spoke about introducing the EU Carbon Border Adjustment Mechanism (CBAM), which will significantly affect the economies of countries with a significant share of exports to the EU. Other participants in the panel were Vladica Janković from the Statistical Office of the Republic of Serbia, Danko Kalkan, Ernst & Young, Nina […]
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European Union (EU) and Western Balkans telecommunication operators signed a Roaming Declaration at the EU-Western Balkans Summit held on Tuesday in Tirana. According to the Declaration, Western Balkans – EU roaming charges will be reduced voluntarily from 1 October 2023, with subsequent reductions gradually leading to their complete elimination. The commitment was also reinforced as part of the Tirana Declaration, which was agreed upon at the Summit. The initiative is another crucial step in bringing the Western Balkans closer to the EU. It aims to enhance connectivity, mobility, and affordability of telecommunication services for individuals and businesses, contributing to more opportunities for […]
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Our Senior Associate Miloš Petaković took part in a round table on the Status of Banking and Finance in the CEE Region recently organized by the preeminent regional legal publication CEE Legal Matters, joined by colleagues from eminent law firms throughout the region. Miloš drew from his substantial experience in the sector and explained the current situation in Serbia with the industry’s numerous changes. Among other things, Miloš said: “Serbia is in a similar situation to most of the (CEE) markets – the majority of banks are EU-based and are part of the bigger EU banking groups. Still, we do have banks […]
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Our Founding Partner Bogdan Gecić recently had an inspiring conversation with Ivan Brkljač for the new episode of the podcast of the organization Tačka Povratka. Bogdan evoked memories of his vast international experiences as a circular migrant, living and working in several countries and continents since his early childhood and returning to Serbia. He offered his views on living abroad, coming back to Serbia and the advantages and disadvantages of the life experience provided by circular migration. Bogdan spoke of his views on origins and culture and the importance of repeats for the country. Among other things, Bogdan said: “A […]
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We were recently entered the finals in four categories for The Lawyer European Awards 2022 and became one of the most nominated law firms in the whole of Europe! As last year’s winner, Gecić Law was nominated for Law firm of the Year: South East Europe, a 150 million strong market, and entered the finals with three of its practice area teams for impressive achievements in competition, corporate and litigation, standing shoulder to shoulder with the crème de la crème of the entire continent. Gecić Law received the most nominations among this year’s contenders across all of Europe – an […]
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New developments are coming up in Frontex agreements! On November 18, 2022, the European Council gave the green light for the opening of negotiations to broaden the already signed cooperation agreements between Frontex and four Western Balkans countries (Albania, Bosnia and Herzegovina, Montenegro and Serbia). This cooperation reflects the European integrated border management concept with non-EU countries and enables Frontex to carry out joint operations and deploy staff in these countries. The arrangement became operational in 2019 with the signing of the first agreement with Albania. Apart from the above countries, it includes Moldova and North Macedonia. On the other […]
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We were recently entered the finals in four categories for The Lawyer European Awards 2022 and became one of the most nominated law firms in the whole of Europe! As last year’s winner, Gecić Law was nominated for Law firm of the Year: South East Europe, a 150 million strong market, and entered the finals with three of its practice area teams for impressive achievements in competition, corporate and litigation, standing shoulder to shoulder with the crème de la crème of the entire continent. Gecić Law received the most nominations among this year’s contenders across all of Europe – an […]
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Our Founding Partner Bogdan Gecić shared his significant knowledge and experience with law students at the esteemed University of Florence (ita. Università Degli Studi di Firenze) as a guest lecturer to a class led by Prof. Ettore M. Lombardi. Students had the opportunity to participate actively in an online two-part mini-course titled “Elements of Competition Law: An International Perspective.” Bogdan provided practical insights into the most exciting aspects of competition law in the context of EU law and how they relate to international trade. Bogdan commented: ”I always enjoy speaking to students, and it was a great pleasure to hold […]
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We were recently entered the finals in four categories for The Lawyer European Awards 2022 and became one of the most nominated law firms in the whole of Europe! As last year’s winner, Gecić Law was nominated for Law firm of the Year: South East Europe, a 150 million strong market, and entered the finals with three of its practice area teams for impressive achievements in competition, corporate and litigation, standing shoulder to shoulder with the crème de la crème of the entire continent. Gecić Law received the most nominations among this year’s contenders across all of Europe – an […]
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Serbia’s competition authority has opened an investigation into Glovo, alleging the food delivery application abused its dominance by imposing exclusivity clauses on its restaurant partners. The agency raided the offices of Glovo on 2 November although the authority’s market study into online food delivery platforms is still ongoing. This and other recent raids have caused controversy over the practice and attracted the interest of Global Competition Review, a reputable global publication specialized in matters of competition law. The raids come as Serbia’s competition rules are being challenged before the courts in competition-based proceedings and also before the Constitutional Court per […]
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On November 10, 2022, the European Parliament finally adopted the Corporate Sustainability Reporting Directive (“CSRD“). The CSRD intends to expand the application of corporate sustainability standards across the market by including an even larger specter of business entities compared to the application scope of the Non-financial Reporting Directive (“NFRD“). NFRD applied only to large companies with more than 500 employees. In contrast, the CSRD comes with larger ambitions and will apply not only to large companies but also to listed SMEs and third-country companies with significant operations on the EU market and a daughter company or a branch office in the […]
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The “Conference of the Parties,” known as “COP“, is an annual gathering of the nations that have ratified the United Nations Framework Convention on Climate Change (“UNFCCC“), the Kyoto Protocol, or the Paris Agreement. This year’s COP 27 is taking place in Sharm El-Sheikh, Egypt, and marks seven years since the Paris Agreement adoption at COP 21 and thirty years since UNFFCCC was adopted. The theme of this year’s COP is ‘Together for implementation ‘. COP 27 kicked off on November 8, 2022, and participants are ministers, world leaders and negotiators deciding how to combat climate change and all its effects collectively. Moreover, to […]
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According to the International Monetary Fund, in the next 30 years, Serbia could lose as much as a fifth of its domestic workforce. On the other hand, the Serbian economy shows an opposite trend, and its growth creates a need for additional labor. When the domestic labor market cannot meet the demands of employers, this opens the doors for foreign workers. Of course, the national labor market is designed so that domestic citizens have a better position while foreigners face certain (legal) obstacles. In that sense, in this analysis, we raise the question of the legislative treatment of foreigners in […]
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The latest amendments to the Companies Act (“Act“) from 2021 specify the mandatory elements of the headquarters of each enterprise. Each registered office address must contain information related to the city, municipality, street or square, house number, floor, and apartment number. This way, enterprises are obliged to harmonize the address of the headquarters with the Act. The deadline for the harmonization above is November 27, 2022. As businesses must register their headquarters address with the Serbian Business Registers Agency (“Agency“), they should synchronize this data in the appropriate register to include any missing data. The deadline for the Agency […]
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The EU Digital Markets Act (DMA) entered into force on November 1, 2022, and it will start to apply in early 2023, while its “partner in crime,” the Digital Services Act, still awaits its moment in the limelight, announced to ensue in a year. Together they form a single set of new rules which aim to apply across the whole of the EU to create a safer and more open digital space. One may say it’s all about digital, but essentially, it’s all about undistorted competition in digital! A New Digital Era Begins with the DMA! The DMA rocked the tech […]
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We recently entered the finals in four categories for The Lawyer European Awards 2022 and became one of the most nominated law firms in the whole of Europe! As last year’s winner, Gecić Law was nominated for Law firm of the Year: South East Europe, a 150 million strong market, and entered the finals with three of its practice area teams for impressive achievements in competition, corporate and litigation, standing shoulder to shoulder with the crème de la crème of the entire continent. Gecić Law received the most nominations among this year’s contenders across all of Europe – an unprecedented […]
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November 1, 2022, was a big day for the EU! And not only the EU. The EU Digital Markets Act (DMA) finally saw the light of day. As its implementation will start in six months, we need to be ready for all the changes it will introduce in the tech world. Incited by the good old competition case law, the DMA will tackle the concerns that the European Commission (Commission) had in its previous practice. So, on the one hand, there will be loads of new obligations to the tech companies meeting the criteria of being designated as gatekeepers, and on the […]
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Intralinks recently published a report on Environmental, Social and Governance (“ESG “), which looks at ESG and how it gained prominence in European M&A. The main idea of the report is to demonstrate ESG’s impact on the M&A decision-making processes, supported with statistics to depict the impact intensity. The Intralinks survey shows that only 3% of the survey respondents were not concerned about ESG issues during their latest M&A transaction. In comparison, 41% of respondents said that the ESG drove their last transaction, and the remaining 56% stated that the ESG was not the primary motivator for their latest deal, but they considered […]
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Continuing our series on opportunities for investment in Serbia, we discuss the real estate sector. Historically, countries have been reluctant to allow foreigners to acquire real estate. In the past, real estate (primarily lands) symbolized its owners’ power, and today apartments, buildings, houses, properties, mines, and fields have significant worth. Nevertheless, globalization has increased the dynamics of “international” real estate trade. Real estate has thus become an important segment in international investment, both as a secondary part of the project (leasing or even buying space for the investors’ regular business operations) and as the very purpose of the investment (real […]
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The European Union (EU) and the Association of Southeast Asian Nations (ASEAN) signed yesterday in Bali the world’s first bloc-to-bloc Comprehensive Air Transport Agreement (CATA). Most EU member states so far have had bilateral agreements with some of the ASEAN countries, with different scopes and rules. However, very few had such arrangements with all the countries of ASEAN. The new agreement now includes all member states of each region and replaces all existing contracts with a unified framework, connecting more than one billion people. The agreement aims to revitalize air travel and transport between Southeast Asia and Europe, which has […]
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Gecić Law continues to reach new heights year after year, receiving even greater recognition for its passion for innovation, consistent growth, and excellence in the legal profession at the highest level. The coveted The Lawyer European Awards have nominated us for the fifth year in a row including us among Europe’s finest law firms. Only, this year, the firm stands neck-to-neck with global powerhouses the likes of Latham & Watkins, with the most nominations among this year’s contenders across all of Europe – an unprecedented feat any law firm in the region has ever achieved. As last year’s first-ever Law firm of the […]
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Europe is now fit for the digital age as the long-awaited Digital Markets Act (DMA) was published in the Official Journal on October 12. Adopted by the European Parliament in September, the DMA will enter into force on November 1 and start to apply in May next year. The act provides a framework to prevent the most prominent digital companies, the so-called “gatekeepers,” from abusing their market power, ensuring greater competition in digital markets, and sparking more innovation in the industry. The DMA will primarily target the world’s most powerful corporations in the IT industry, commonly referred to as the “Big Five” […]
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We come across platform work daily, but do we know how it works? Platform work is a new way to hire paid work on online platforms. Online users can access platform workers who offer a wide range of paid services. These platforms include Uber, Wolt, Deliveroo, Glovo, to name a few. Both consumers and labor can gain significantly from the platform economy, part of the broader phenomenon known as the gig economy. Digital platforms make it simpler for anyone to become self-employed and earn regardless of socioeconomic standing by having low entry requirements and flexible working hours. In the same way, […]
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On Sunday, our representatives, led by senior associate Danica Misojčić attended the National Day of Giving ceremony. Gecić Law received a certificate of appreciation for participating in this year’s “Save Food, Save Humanity” campaign. We once again felt the pride and immense pleasure of helping those in need, expressing our commitment to our core philanthropic values, which are growing daily. We hope to encourage others to share these values with us. How did we contribute? First, individual food donations from our team members to the Center for Social Integration of Children and Youth “Zvezda.” In addition, we bought (and are […]
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On Sunday, October 9, 2022, a humanitarian “Yard Sale” was held at the Endžio Hub, an initiative of Gecić Law supported by the Serbian Chamber of Commerce, Ferdinand Knedle, the New Media Team agency, and other partners. Volunteers of the National Association of Parents of Children with Cancer NURDOR collected donations, and visitors had the opportunity to choose from the many items on offer. This humanitarian event is unique because the items were donated by members of the Gecić Law team, their associates and partners. A wide choice of beautiful items from the homes of generous people was available as […]
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Gecić Law is pleased to announce that we have opened the application process for the Taboroši Scholarship for the fifth consecutive year. About the Scholarship The Taboroši Scholarship was established in memory of Professor Svetislav Taboroši, by family members and former students who have been inspired by the professor’s work and dedication to academic research and innovative problem-solving in the practice of business law. A brilliant teacher and scholar, Professor Taboroši strived to educate his students on the most recent trends in legal academic thinking and the importance of critical thinking in the academic and professional analysis of international law […]
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Newsflash! The time has come for universal chargers to hit it on! Following the provisional political agreement reached in June 2022 between the EU institutions, on October 4, 2022, the European Parliament passed a new law on universal chargers to ease reducing e-waste and enable more sustainable choices for consumers. What does this actually refer to? Namely, all small and medium-sized mobile electronic devices will need to be equipped with a USB Type C port. Thus, consumers will no longer have to use different chargers to charge their devices from different manufacturers. The agreement will be applied to […]
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We bring you below in its entirety the op-ed authored by Elizabeth Chung, Executive Director at the International Academic Center EducationUSA Serbia, published in the weekly Vreme of September 29, 2022. The World at the Crossroads and Us Many will be amazed when they learn that Serbia is a leader in participating in the great intellectual exchange of youth within the framework of higher education. Today’s potential international student has much easier access to a global educational experience. From September 18th until September 21st the EducationUSA Europe and Eurasian Triennial Conference was held here in Belgrade attracting more than 50 […]
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In August, the Spanish Data Protection Agency (Agencia Española de Protección de Datos, hereinafter: “Agency“) fined an NN person the sum of EUR 1,500 for violating the norms stipulated by the GDPR (General Data Protection Regulation), through the illegal collection and processing of personal data using a video surveillance system. (In the Decision issued by the Agency, the names of the parties involved were not disclosed, so the following terms will be used in the rest of this text: Injured party – person 1, Tortfeasor- person 2) What happened? The proceedings in front of the Agency were initiated by Person […]
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Our Partner and Head of Corporate M&A practice Ognjen Colić delivered an inspiring lecture about the latest in sustainable development and ESG, focusing on the EU’s Carbon Border Adjustment Mechanism (CBAM) and the practice of greenwashing in corporate non-financial reporting. Ognjen gave the attendants a comprehensive overview of these hot topics using examples and anecdotes from his rich experience in the field. The lecture was followed by a Q&A session and lively discussion on the topics. Ognjen explained the genesis of CBAM, its planned roll-out and its potential ramifications for businesses in Serbia. He also spoke about the consequences of […]
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Our Founding Partner Bogdan Gecić was honored to deliver the keynote address at the Opening Plenary Session of the EducationUSA Europe and Eurasia Forum, which was held in Belgrade from September 19-21. The opening session of the forum was attended by numerous dignitaries, high-ranking officials, members of the diplomatic community and representatives of US institutions of higher education and EducationUSA from across the two continents. Bogdan was joined by H.E. Christopher R. Hill, U.S. Ambassador to Serbia, and Branko Ružić, First Deputy Prime Minister and Minister of Education, Science and Technological Development, who also delivered their opening remarks at the event. […]
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Gecić Law is proud to have contributed to the fifth CEE Legal Matters Guide in their Comparative Guides series, with a focus on Restructuring in Central and Eastern Europe. Our team members Danica Misojčić, Senior Associate, Miloš Petaković, Senior Associate, and Žarko Popović, Associate supported CEELM with a focus on Serbia by providing critical information on the legal framework for insolvency and restructuring. The guide provides intel on legislation, international instruments, and proposed or upcoming changes in restructuring insolvency. This includes which steps restructuring proceedings normally include and the roles of the courts and other key stakeholders. The guide also […]
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Our Founder & Managing Partner Bogdan Gecić recently held a key discussion at Bloomberg Adria Serbia on the ramifications of the expected introduction of EU’s CBAM for the Adria & Balkans region. Bogdan discussed what this revolutionary new trade instrument, which will take effect in 2023, means for all companies from the Western Balkans and beyond that export to the EU. If adopted by the EU Council, every importer in the EU will have to pay tax on the goods they import into the EU if the goods are produced in countries that do not have an Emissions Trading System […]
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At today’s session, the Executive Board of the NBS decided to again raise key interest rates by 50 basis points, to 3.5% ,, the deposit facility rate – to 2.5% and the credit facility rate – to 4.5%. The NBS had previously increased the key interest rate as per the decision of the Executive Board on August 11, this year. The NBS’s Executive Board continued to tighten the monetary policy.,attributing this trend to increasingly rising inflationary pressure. According to the NBS, the Executive Board assessed that, in the conditions of continued price pressures, as well as the growth of imported […]
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ESG awareness is more than essential. Organizing various panel discussions on relevant topics is a must. Yet, what type of example does an event that encourages environmental sustainability set forth if they print a ton of unnecessary paper, each delegate travels to the venue with their own car or provide an all-you-can-eat buffet which leads to an embarrassing amount of food wastage. As they say, practice what you preach. Yesterday, our team Branko Gabrić, Counsel and Nikola Kovačević, Business Development Manager attended the Net 0 event in Maribor which was co-organized by the Institute of Strategic Solutions (ISR), Ministry of […]
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With ESG becoming such a hot topic and the global sustainable finance market reaching more than USD 35 trillion in value, there are expectations of further growth in this rapidly expanding sector. The growth is fuelled on one hand by greater standardization in the area in major economies, including the EU taxonomy, but also a rise in innovation and an ever-greater variety of financial products that fall within this category. Case in point, interesting news has just recently came from the sector. On August 29th, one of the biggest banks in Europe, Raiffeisen Bank International AG announced that it has […]
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For many individuals, consumer rights amount to an everyday battle. With the latest amendments to regulations, out-of-court dispute resolution are increasingly becoming a viable option. Suppose a consumer is not satisfied with the outcome of a settlement of a complaint filed with a merchant. The consumer dispute can be resolved out of court with the help of a third party who, according to the Consumer Protection Act (“Act”), must be: neutral, independent and impartial. As part of Serbia’s digitalization efforts, a platform has been established to satisfy these needs. What is it all about? The IT platform for out-of-court settlement […]
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The Open Balkans initiative aims to encourage and facilitate cooperation among the Balkans countries. The initiative was conceived across the Balkans, where the different cities symbolize the various stages in the development of the Open Balkans initiative. In this article, we present the chronology of building ties between the countries by virtually visiting six key locations. (Note: If you decide to visit these towns, we advise you to create your itinerary on Google Maps, not by this article :D). The first location associated with the birth of the Open Balkans project (as we know it today) is Novi Sad, and […]
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As we discussed last week, the National Bank of Serbia (“NBS”) decided to hike the interest rate to 3%. In addition to this decision, several other measures were introduced aimed at reducing the growing inflationary pressures affecting the economy of Serbia. One of the measures is the decision that all banks that have increased their fees for payment services since January 1, 2021, will reduce those fees by 30% starting September 1 or reduce these fees prior levels. According to the NBS, the aggregate benefit of this measure to individual clients will amount to 7 billion dinars. In addition, NBS […]
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Despite rapid developments in technology and business, EU laws on e-commerce have not been updated for more than 20 years. To keep up with the digital revolution, the EU Parliament („EP“) adopted the Digital Markets Act (“DMA”) and the Digital Services Act (“DSA”). The DMA was adopted in July 2022 and it will start to apply at the beginning of 2023. As for the DSA, it is expected to be implemented in early 2024. Why was the DMA adopted? This act provides a framework that is tailored to the major influence of the largest digital companies, known as “gatekeepers” – […]
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The Executive Board of Serbia’s Central Bank (“NBS”) voted today to raise key interest rates by 25 basis points to 3%, in a fifth hike this year. The credit facility rate is now 4% and the deposit facility rate is 2%, all increased by 25 basis points. The Executive Board decided that an additional tightening of the monetary policy is necessary, and that year-on-year inflation is expected to peak during the current quarter and then start declining. In conditions of continued cost pressures and growth of imported inflation beyond all expectations, the NBS is aiming for a balanced approach that […]
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Gecić Law is proud to announce that it has contributed to the inaugural edition of the TerraLex Cross-Border Guide to Crypto Assets for the jurisdictions of Montenegro and Serbia. The guide is now live and is free to access. This confirms our team’s pioneering expertise in one of the hottest fields of law today. As the exclusive member of TerraLex in the jurisdictions, Gecić Law is a regular contributor to the TerraLex Cross-Border Guides in a broad array of practices. The guides are unique as they offer a comparative perspective on legislation across fields and jurisdictions throughout the world, offered by world-class […]
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The European Commission’s (Commission) antitrust enforcers are investigating Google Play Store. The antitrust enforcers are now looking into the restrictions Google has placed on the Play Store app market. According to the sources, the Commission has sent a confidential questionnaire to several companies that use the Play Store. Most of the questions are about the billing terms and fees they must pay to this tech giant to be listed in its application catalog. Any purchase made inside an application (in-app) that has been downloaded from the Play Store is subject to a 15% to 30% fee that Google charges. Publishers […]
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As part of our series on investment opportunities in Serbia, this time we delve into the pharmaceutical industry. The coronavirus pandemic demonstrated that Serbia has significant potential in the sector that is still running strong. Unlike other industries, the pharmaceutical industry has been showing unprecedented growth. The high demand for medicines, supplements, basic hygiene products and disinfectants, and other medications has shown that there is a strong need for businesses and institutions that will meet this demand. In that sense, Serbia’s pharmaceutical industry showed high efficiency and managed to establish and maintain regular supply, stable production, and unhindered imports as […]
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Although the Personal Data Protection Act (“Act“) has been in effect for four years, it seems that its provisions have not yet been fully implemented in practice, nor have all companies in Serbia fully adapted to them. Non-compliance with the obligations prescribed by the Act especially starts hurting when inspections are carried out by the Commissioner, and a new round is being announced. So, let’s take a moment to revise what companies should pay attention to when it comes to complying with the Act. Back to basics The general obligations of companies are contained in the principles of the Act. […]
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We recently wrote about bid rigging and the new guidelines issued by the Serbian NCA on detecting this illegal activity in public procurement procedures. Here we look into an interesting case that illustrates how bid rigging occurs and is dealt with in the United Kingdom. After it had initiated an antitrust probe in 2019, The UK’s Competition and Markets Authority (“CMA”) came across a cartel activity of 10 demolition companies that plotted to rig bids for demolition and asbestos-removal contracts worth more than £150 million. The contracts in question were the result of tenders organized by the MET Police Training […]
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These days, after many years, inflation is back as a central topic of discussion for governments, businesses and individuals. Media reports across the globe talk of central banks tightening monetary policies and hiking interest rates to protect their economies. As inflation rises, financial and other markets face another aspect of uncertainty and the end is still not on the horizon. What does all this mean and why is it important? Why? The issues that began with supply chain issues attributed to the Covid pandemic have now continued and taken a new form with the escalation of global tensions during this […]
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Last year, the top 12 European football clubs formally agreed to organize a separate competition. Gecić Law has already given legal insights on establishing the European Super League (“ESL”) – the football league that may never start. The ESL aims to compete with – if not completely replace – the current UEFA Champions League, the elite European football championship organized by the UEFA. The ESL has experienced tremendous pressure from the fans, officials, coaches, players, other stakeholders and especially UEFA, which resulted in (temporary) stopping the initiative. Much of the opposition to the ESL stemmed from fears of elitism and […]
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