Thought Articles

Romania’s accession to the European Union will also have consequences as far as the protection of nationally registered trademarks is concerned. Under the accession rules, Community trademarks filed for registration before the date of accession (irrespective of whether they have been registered or not), shall automatically enjoy protection within the territory of Romania.

In the broader context of Romania's efforts to join the European Union (EU) by the year 2007, the private sector participation in the national economy has grown significantly. Unlike the first years of the transition to the free market economy when privatisation played a key role in transferring the ownership and responsibility to the private sector, other instruments such as public private partnership (PPP) and private finance initiative (PFI) are currently developing with a view to modernising Romania's infrastructure. The article originally appeared in the Privatisation & Public Private Partnership Review 2006/07 published by Euromoney Institutional Investor PLC in May 06.

Law No. 31/1990 that applies to commercial companies was initially based on the companies’ regulation as proposed by the so-called Commercial Code of Carol II of Romania. It was intended that the Commercial Code would come into force in 1940, but this did not happen due to World War II. The initial regulation has been amended many times, the current form of the law being for the most part the one republished in the Official Gazette No. 1066/17, in November 2004. But in the light of Romania’s imminent accession to the EU, a review of certain texts in the Company Law has proved necessary to bring these texts into line with European directives.

Company Law No. 31/1990 is the “Holy Book” of regulations on companies’ establishment and operation in Romania. It’s been a while since the issue of updating this law in accordance with EC norms, especially the European Commission recommendations and the relevant principles issued by the Organization for Economic Cooperation and Development (OECD), has been raised.

Last year the negotiations between Romania and the European bodies in view of accession to the EU were very tight on the Competition chapter, especially in relation to state aid matters. While the EU legislation in the competition field (including state aid) was rather rapidly enforced to a considerable extent as part of Romania’s internal legal framework, the ommission’s practice, the acquis communitaire and the correct implementation of the state aid rules raised many discussions and difficulties when it came to applying those rules in various situations.

A paradigm shift in Romania’s labor law granting additional powers to trade unions will likely liven up the area and lead to an increase in related mandates, according to Țuca Zbârcea & Asociații Partner Șerban Pâslaru.