AUGUST 2010
Legal Updates
Industrial Insecurity: Myth or Reality?
Mexico’s President, Felipe Calderon, met on August 10 with representatives from various political parties to discuss the federal government’s policy on internal security and the so-called war against organized crime. President Calderon stressed that the federal government is winning this war; however, reality seems to have overtaken all political rhetoric. The companies and industrial conglomerates with industrial facilities in the Mexican Republic are concerned about the lack... [Read More]A Celebration to Reflect Upon
A global pollster conducted a survey to identify the countries with the happiest population. Mexico was one of the countries whose inhabitants show traits that make them one of the people who enjoy life the most. Recent times have been difficult. The road to a complete and full development has been surrounded by difficulties. The most conspicuous difficulties are the lack of safety caused by crime, social inequality, corruption, poverty, unemployment and absence of opportunities for young people... [Read More]Class Action Lawsuits in Mexico
The Official Journal of the Federation published on July 29, 2010 an amendment to article 17 of the Constitution of the United Mexican States to create in Mexico the legal concept of class action lawsuits, i.e. lawsuits brought by a group of people that meet a uniform set of conditions arising from the same cause that resulted in losses or claims. The constitutional reform limits class action lawsuits to proceedings regarding federal law, such as those relating to consumers... [Read More]Jurisprudence- Notice of Employment Termination before a Public Notary
Recently, the Second Chamber of Mexico’s Supreme Court of Justice (SCJN) issued a ruling on labor matter number 2a./J.100/2010 under the heading, Notice of employment termination. The affidavit, in which delivery of such is made to the employee, constitutes sufficient proof to satisfy the requirement provided in Article 47 of the Federal Labor Law. In this regard, Mexico’s highest court ruled that it is appropriate to deliver the notice of employment termination by and before... [Read More]Mexican Intellectual Property Information: Opposition to the Grant of Patents?
According with the provisions of Mexico’s Industrial Property Law (LPI), inventions are patentable if: 1) they are the result of a creative activity; 2) have an industrial application; 3) and, are new. Five exceptions to such provision are set forth in Article 16 of the LPI. Additionally, Article 19 of the LPI provides cases for which inventions cannot be considered for registration. Similarly, legislation in this area provides that once a patent application is filed with the... [Read More]Business & Politics Outlook
Political Thermometer
The outcome of the mid-term elections resulted in a victory claimed by all politicians involved. In a way, all of them triumphed in the elections of July 2010, and, in particular, democracy won. It was thought that such a strong political clash would end in a confrontation, if not violent, at least legally contested in court. It was not the case. Except for a pending dispute over the elections in Durango, politicians have accepted the victory of the election winners. The... [Read More]The Mexicana Airlines Crisis
National flagship airlines such as American Airlines, Air France, Japan Airlines and Lufthansa each have a brand that links them to the country where they originate and from where they operate their home offices. Mexicana Airlines or Mexicana is one of them and shares such distinction with Aeromexico. Mexicana has recently encountered serious financial problems that forced it to seek protection under the new Mexican bankruptcy laws. A Mexican federal judge has accepted Mexicana’s... [Read More]Economic Indicators
Economic Indicators
The following are economic indicators as of August 13, 2010:
Pesos/Dollar Exchange Rate: $12.7256 pesos per dollar.
Mexican Stock Exchange: The Mexican Stock Exchange (BMV) closed at 32,099.75 points.
Interest Rates: The Average Interbank Interest Rate (TIEE) for a 28-day period was at 4.8750 %.