DECEMBER 2009 EDITION ARCHIVE
Legal Updates
PRACTIQUE LEGAL - Why Are Powers of Attorney so Complicated in Mexico?
By Rene Cacheaux One issue that deserves serious attention is the preparation of powers of attorney in Mexico. Powers of attorney are legal instruments through which a person is authorized to represent an entity or other individual to carry out legal actions, such as the signing of contracts. In other countries, specifically the United States of America, authority of an agent to represent a principal is directly linked to the appointment of such agent. That is, the appointment in and of itself implies... [Read More]300 PALABRAS - Status of U.S.- Mexico Relations
Opinion by Dr. Mario Melgar-Adalid Notwithstanding the serious problems that Mexico faces this year, it is worth noting that the governments of Mexico and the United States find their bilateral relations with each other at one of their best moments. In spite of the great differences in economic development and the complicated border both countries share, and the longest border between a highly industrialized country and a developing country, the countries' bilateral relations have multiplied... [Read More]Recent Jurisprudence - Commission Agents and Employment Law Decision
Recently the Second Chamber of Mexico's Supreme Court published in its Judicial Weekly of the Federation (Semanario Judicial de la Federación) case decision number 2a./J.149/2009 under the heading "Mercantile Commissions. Criteria to determine the existence of a labor relationship". In this regard, Mexico's highest court reiterated the legal criteria that subordination is a characteristic element evidencing a labor relationship. In this manner, the Supreme Court held that... [Read More]Two New Justices Join Mexico’s Supreme Court
With an important constitutional amendment that entered into force in 1995, Mexico's Supreme Court (Suprema Corte de Justicia de la Nación or SCJN) underwent important changes. Such amendment not only reduced the number of justices from twenty-four to eleven, but also provided the court with important new authority to resolve cases involving unconstitutional actions and constitutional controversies. The reform also changed the terms of the SCJN justices, which now run for fifteen years... [Read More]Business & Politics Outlook
Political Thermometer
Recent polls show a notable change in Mexicans' perception of the problems they face. In the international context, a general desire exists for the U.S. economy to improve, and thus accelerate the recovery of Mexico's economy and citizens. This is especially true given that exports, remittances sent from the U.S. to Mexico, foreign investment, and tourism spending are fundamental elements of the Mexican economy. Mexico is currently trying to reduce its dependence on the United States by diversifying... [Read More]Possible Reelection of Congressional Members and Mayors
President Felipe Calderon announced that he will submit to Mexico's Federal Congress an initiative to amend Mexico's Constitution to allow for the consecutive reelection of federal congressional members and local mayors. Such proposal is based on a prior idea espoused by some politicians and academics, who advocate that it would be beneficial to allow the electorate to determine if a public servant deserves the possibility of being reelected. The principle of "No Reelection", which... [Read More]Economic Indicators
Peso/Dollar Exchange Rate
The quoted exchange rate as of December 11, 2009 was $12.9739 pesos per dollar.Mexican Stock Exchange
The Mexican Stock Exchange (BMV) closed on December 11, 2009 at 31,916.60 points.Interest Rates
On December 11, 2009, the Average Interbank Interest Rate (TIEE) for a 28-day period was at 4.9100 %.Mexico IP Info
Administrative Violations
Mexico's Industrial Property Law has for many years contemplated the various violations for which one could be subject to sanctions in relation to the use of intellectual property rights of third parties. The most typical causes seem to always be related to the improper use of patent or trademark rights that have been duly protected through legal registration with Mexico's intellectual property authorities. Article 213 of the Intellectual Property Law establishes 27 different bases for administrative... [Read More]