Presentation by Professor William H Byrnes to the Florida Bar Association annual meeting on India's Legal Process Outsourcing industry.
1. Economics and Other Driving Factors
2. Bar Ethics
3. Risk Management
4. Tax Issues
5. Education & Training the LPO Workforce
See http://www.profwilliambyrnes.com
This chapter discusses the political and legal environment factors that are important for international businesses to consider. It covers different types of political systems, such as democracies, monarchies, and theocracies. It also examines international legal systems like common law, civil law, and socialist law. The chapter outlines various risks international businesses face, such as political, economic and commercial risks. It introduces tools for measuring country risk, including the BERI Index, EIU risk indices, and other indexes. Finally, it discusses methods for managing risks, such as employing locals, sharing ownership, and using insurance guarantees.
Nearly 200 participants attended a conference organized by the Israeli Ministry of Justice, Ministry of Industry, Trade & Labour, and Manufacturers Association of Israel on corporate responsibility and combating foreign bribery. The conference focused on OECD requirements and their implications for business, featuring speakers from government, businesses, and civil society. It marked three years of joint work between the organizations to strengthen Israel's implementation of OECD antibribery guidelines and conventions since joining the OECD. Speakers discussed setting standards for responsible corporate behavior and level global business environments through adherence to such international agreements.
03 The Political and Legal Environments Facing BusinessBrent Weeks
To discuss the philosophy and practices of the political environment
To profile trends in contemporary political systems
To explain the idea of political risk and approaches to managing it
To discuss the philosophy and practices of the legal system
To describe trends in contemporary legal systems
To explain legal issues facing international companies
The document discusses different political systems around the world and how governments can influence global business activities both positively and negatively. It describes various types of political systems such as democracy, monarchy, theocracy, and totalitarianism. It also explains how governments can discourage global business through laws, trade barriers, taxes, and political risks. However, governments also provide incentives for global business through free trade zones, trade agreements, export assistance agencies, and tax incentives.
This document discusses the economic analysis of law and its interaction with various legal fields such as contract law, tort law, and criminal law. It examines how economic considerations can provide insights into the costs and benefits associated with legal rules and how individuals and organizations respond based on these economic factors. It also explores the formal and informal dimensions of law and how people make decisions based on comparing the costs of complying with formal legal requirements versus operating informally.
This document discusses ethical dilemmas that public administrators may face. It outlines three essential mental attitudes - recognizing moral ambiguity, understanding how contextual forces affect priorities, and dealing with paradoxes in procedures. It also lists three important moral qualities for public administrators - optimism, courage, and fairness with charity. The document explains why these characteristics are important for addressing complex ethical situations that arise in public service. It provides examples of ethical issues seen in areas like privatization and corporate governance in Malaysia.
A bureaucracy is a large, complex organization composed of appointed officials that handle the everyday business of an organization based on hierarchical authority, job specialization, and formalized rules. The American bureaucracy is distinctive because political authority is shared, most agencies share functions with state/local counterparts, and there has been growth in defining and defending personal rights. Bureaucracies are subject to oversight from Congress and the public and face issues like red tape, conflicts between agencies, and a tendency to grow without considering costs or benefits. Reforms aim to make bureaucracies more efficient and customer-focused.
The document discusses the political-legal environment for businesses in India. It identifies 3 key elements: government, legal, and political. It describes how the government regulates businesses through various controls and acts. The legal environment requires businesses to register and obtain various licenses and comply with labor and tax laws. The political environment can positively or negatively impact businesses based on the party in power and relationships with politicians. Corruption is also discussed. Pepsi's entry into India is used as a case study to show it had to overcome political and legal hurdles but was eventually able to establish itself by engaging with local communities.
This chapter discusses the political and legal environment factors that are important for international businesses to consider. It covers different types of political systems, such as democracies, monarchies, and theocracies. It also examines international legal systems like common law, civil law, and socialist law. The chapter outlines various risks international businesses face, such as political, economic and commercial risks. It introduces tools for measuring country risk, including the BERI Index, EIU risk indices, and other indexes. Finally, it discusses methods for managing risks, such as employing locals, sharing ownership, and using insurance guarantees.
Nearly 200 participants attended a conference organized by the Israeli Ministry of Justice, Ministry of Industry, Trade & Labour, and Manufacturers Association of Israel on corporate responsibility and combating foreign bribery. The conference focused on OECD requirements and their implications for business, featuring speakers from government, businesses, and civil society. It marked three years of joint work between the organizations to strengthen Israel's implementation of OECD antibribery guidelines and conventions since joining the OECD. Speakers discussed setting standards for responsible corporate behavior and level global business environments through adherence to such international agreements.
03 The Political and Legal Environments Facing BusinessBrent Weeks
To discuss the philosophy and practices of the political environment
To profile trends in contemporary political systems
To explain the idea of political risk and approaches to managing it
To discuss the philosophy and practices of the legal system
To describe trends in contemporary legal systems
To explain legal issues facing international companies
The document discusses different political systems around the world and how governments can influence global business activities both positively and negatively. It describes various types of political systems such as democracy, monarchy, theocracy, and totalitarianism. It also explains how governments can discourage global business through laws, trade barriers, taxes, and political risks. However, governments also provide incentives for global business through free trade zones, trade agreements, export assistance agencies, and tax incentives.
This document discusses the economic analysis of law and its interaction with various legal fields such as contract law, tort law, and criminal law. It examines how economic considerations can provide insights into the costs and benefits associated with legal rules and how individuals and organizations respond based on these economic factors. It also explores the formal and informal dimensions of law and how people make decisions based on comparing the costs of complying with formal legal requirements versus operating informally.
This document discusses ethical dilemmas that public administrators may face. It outlines three essential mental attitudes - recognizing moral ambiguity, understanding how contextual forces affect priorities, and dealing with paradoxes in procedures. It also lists three important moral qualities for public administrators - optimism, courage, and fairness with charity. The document explains why these characteristics are important for addressing complex ethical situations that arise in public service. It provides examples of ethical issues seen in areas like privatization and corporate governance in Malaysia.
A bureaucracy is a large, complex organization composed of appointed officials that handle the everyday business of an organization based on hierarchical authority, job specialization, and formalized rules. The American bureaucracy is distinctive because political authority is shared, most agencies share functions with state/local counterparts, and there has been growth in defining and defending personal rights. Bureaucracies are subject to oversight from Congress and the public and face issues like red tape, conflicts between agencies, and a tendency to grow without considering costs or benefits. Reforms aim to make bureaucracies more efficient and customer-focused.
The document discusses the political-legal environment for businesses in India. It identifies 3 key elements: government, legal, and political. It describes how the government regulates businesses through various controls and acts. The legal environment requires businesses to register and obtain various licenses and comply with labor and tax laws. The political environment can positively or negatively impact businesses based on the party in power and relationships with politicians. Corruption is also discussed. Pepsi's entry into India is used as a case study to show it had to overcome political and legal hurdles but was eventually able to establish itself by engaging with local communities.
Political Environment is one of the chapter included in the Business Environment Subject of (2nd Semester of Masters in Business Studies) Please give us your feedback and if anyone wants the slides, email me at linkme2prem@gmail.com .
Thank you.
The document discusses key concepts related to bureaucracy in the United States government. It defines different types of bureaucracies like commissions, corporations, and independent agencies. It also explains bureaucratic concepts such as the spoils system, patronage, civil servants, privatization, and accountability. Max Weber is mentioned as developing theories around bureaucracy. The roles of Congress, the president, and department heads in overseeing bureaucracies are summarized.
Lessons Learned The History Of Continuing Legal Education Andlegal5
The history of mandatory continuing legal education (MCLE) in Indiana began in the 1950s as the practice of law became more complex. In response, the Indiana State Bar Association launched educational initiatives like the Res Gestae magazine and seminars. This highlighted the need for more continuing education. The Indiana Continuing Legal Education Forum (ICLEF) was then established in 1964 to further support continuing legal education. Over the following decades, ICLEF grew their programming and organizational capabilities. By the 1980s, they were providing many live and recorded seminars across the state, building the case for Indiana to officially adopt mandatory CLE through a Supreme Court rule in 1986.
This document provides an overview and guide to investing in Myanmar. It discusses the types of companies foreign investors can establish, including 100% foreign owned companies or joint ventures. It also outlines the application procedures and capital requirements to obtain necessary permits and approvals from the Myanmar government. The guide highlights Myanmar's potential for investment opportunities across many industries due to its abundance of natural resources and strategic location in Southeast Asia.
Economic laws are statements of general tendencies that describe unchanging relationships between economic events under certain circumstances. They are postulated by economists based on observation and analysis, and include laws like the Law of Demand, Law of Supply, and Law of Diminishing Marginal Utility. Economic laws are less exact than natural laws, are essentially hypothetical, relative, and qualitative rather than quantitative. They apply on average under normal conditions and describe human behavior that can be measured in terms of money.
The document discusses the influence of the Chinese Communist Party (CCP) on business laws in China. It explains that the CCP is the main lawmaking body and all business laws must be discussed and passed by the CCP. It describes the legislative process for passing laws and the roles of the Politburo Standing Committee and the National People's Congress. The CCP has significant control over business law reforms and strategic plans to further open China's market.
International political environment - class materialErnesto Luna
The document discusses several factors in the political and legal environments that can affect international business:
In the political environment, it discusses nation-states and sovereignty, political risk, taxes, dilution of equity control, and expropriation. In the legal environment, it discusses international law, establishment of business, jurisdiction, intellectual property (patents, trademarks, copyright), antitrust laws, and the role of the World Trade Organization in international trade. Overall, the document outlines important political and legal considerations for international businesses operating across borders.
History Of The Association Of Legal Aid Attorneys Uaw Local 2325legal5
The document provides a history of the Association of Legal Aid Attorneys union (ALAA) from its founding in 1968 through 1999. It summarizes that ALAA was founded to advocate for improved working conditions and client representation at the New York Legal Aid Society. In its early years from 1968-1972, ALAA fought for basic resources like offices, phones, training and continuity of client representation. This led to its first strike in 1970. Strikes in 1973 and 1974 achieved some gains but also faced judicial backlash. ALAA continued advocating for clients and fighting for improvements over the decades.
The document discusses various aspects of political and legal environments that can impact international business operations. It covers topics like political ideology, political risk, managing political risk, legal systems, intellectual property rights, and legal issues companies may face when starting, operating, and closing international business. Key considerations for companies include understanding the political situation and key stakeholders, complying with different legal origins and regulations between countries, and properly managing risk.
The political environment directly affects the business environment and ethics. A typical bureaucratic political system can hamper business through long start-up processes and lack of empowerment. In contrast, an efficient government ensures economic development. When businesses can bypass laws due to politics, ethics and morality are undermined. Recent scams in India totaling tens of thousands of crores of rupees show how politics can negatively impact businesses and investors. Empowering people and balancing interests can help the economic environment flourish.
Module of contracts and economics in the subject Law & Economics as taught under most syllabi in the Indian Legal Education system with context to BBA LLB Hons. Degrees.
From 4th Year student of School of Law, MUTC.
Gay Marriage Should Be Legalized Essay.pdfEvelin Santos
Gay marriage should be legal - GCSE English - Marked by Teachers.com. Should Gay Marriage Be Legalized? - GRIN. Gay Marriage - Should Homosexual Marriages Be Recognized Legally At .... In Gay Marriage Debate, Both Supporters and Opponents See Legal .... Gay Marriage - GCSE Miscellaneous - Marked by Teachers.com. Gay marriages should be made legal - Do you agree or disagree? Discuss .... How should court rule on gay marriage? #tellusatoday. Why support for gay marriage has risen so quickly - The Washington Post. ≫ Lesbian and Gay Rights and Discrimination of Homosexuals Free Essay .... Sociology Archives - Page 10 of 41 - Yourhomeworksolutions. Against nature: How arguments about the naturalness of marriage .... Judge: Fla. must honor other states' gay marriages. Gay Marriage Around the World | Pew Research Center. Growing Support for Gay Marriage: Changed Minds and Changing .... Gay Marriage Should Be Legalized Essay Example | Topics and Well .... Essay Gay Marriage | Same Sex Marriage | Homosexuality. What Will Happen If Gay Marriage
This document is the 2014 annual report of the Private Equity Growth Capital Council (PEGCC). It summarizes that 2014 was a successful year for the private equity industry, with record returns of $130 billion to investors, but it also faced increased regulatory and public challenges. The PEGCC responded aggressively to these challenges through expanded advocacy, research, and member services. Key accomplishments included preventing tax increases proposed by the House Ways and Means Chairman, increased regulatory engagement, and new member programs and events on issues like environmental and social governance. Looking ahead, the PEGCC will continue advocating for the industry on tax, regulatory, and other policy issues in 2015.
Best Essay Writer.pdfBest Essay WriterElena Nongos
The document discusses how atmospherics are important for increasing customer purchases at The Body Shop retail stores in Hong Kong. It provides background on The Body Shop and its values of community trade, human rights, and environmental protection. Key aspects of retail atmospherics that could influence shopping behaviors are analyzed, such as the physical environment, store layout, lighting, music, and scent.
A Government Agency With Fice Of Quality, Performance, And...Chelsea Porter
The document discusses various government agencies and their roles in regulating behavior and enforcing statutes passed by Congress and the executive branch. It notes that regulatory agencies exist at the federal, state, and local levels. The Food and Drug Administration and Federal Election Commission are provided as examples of federal regulatory agencies that carry out mandates from Congress. The document also discusses the three levels of government in the US - federal, state, and local - and how each draws legitimacy from the Constitution but also has its own authority and jurisdiction.
This Essay Will Discuss. Discussi. Online assignment writing service.Mandy Cross
This document discusses a model for computer systems research. It presents data showing variability between reviewers and that paper merit follows a Zipf distribution. Using game theory, the author argues that with noisy reviews and Zipf-distributed merit, authors have an incentive to submit papers too early and often, making reviewing conferences and research less efficient. The paper focuses on modeling the systems research community as a peer-to-peer system due to similarities like decentralized control. Progress occurs through cooperation rather than central coordination.
Epic Financial Funding is expanding its operations to India by opening a new location focused on clean water and alternative power projects. Epic understands India's growing needs for energy and clean water due to its fast economic growth. The United States also recognizes India's needs and President Obama pledged financial support for India's large solar energy program. Epic is led by Managing Partner Phillip Carson, with a board that includes experienced individuals from various backgrounds such as technology, healthcare, banking, and energy. The company also works with consultants like Joseph Langston, an oil and gas industry veteran.
Wassim Zhani Business Law by Mallor 14th Edition.pdfWassim Zhani
This document provides information about the 14th edition of the textbook "Business Law: The Ethical, Global, and E-Commerce Environment". It lists the authors and their credentials and experience in business law. It describes the features and strengths of the textbook, including its comprehensive coverage of topics, clear writing style, selection of cases, and alignment with curriculum standards. It outlines new features and changes in this 14th edition, such as inclusion of e-commerce issues in contracts chapters and coverage of recent legislation and court cases.
Overseas Indians represent a vast pool of potential investors, entrepreneurs, and corporate leaders whose skills and expertise can contribute to India's rapid economic growth. The document discusses the Financial Services Division of the Indian government, which seeks to facilitate partnerships between overseas Indians and Indian businesses to promote investment and growth. The division aims to ease business operations in India, provide advisory services, and catalyze partnerships. It establishes frameworks to smooth the investment process and works with organizations like Overseas Indian Facilitation Centre to provide resources and guidance to overseas investors.
In this exclusive webinar, our panelists will discuss what’s going on with transfer pricing as we enter a new decade. This discussion will include new laws affecting this sector, technologies available to facilitate compliance, and plenty more!
1. Heavy taxation by the British government: The British imposed taxes on the colonists through various acts like the Stamp Act and Tea Act without representation in Parliament. This led to unrest and protests among colonists who believed in "no taxation without representation."
2. Restriction of colonists' expansion: The British tried to restrict colonial expansion west of the Appalachian Mountains with the Proclamation of 1763 to protect Native American lands. This angered the colonists.
3. Desire for self-governance: The colonists increasingly wanted more autonomy and self-governance. They resented the control exerted by the British
The document evaluates the external communications of New Belgium Brewery Company (NBBC). NBBC effectively communicates its mission of being environmentally and socially responsible through its website, social media, and partnerships. NBBC also emphasizes a strong company culture of employee ownership and involvement in strategic planning. The company's sustainability efforts have helped generate positive publicity and recognition for NBBC.
Political Environment is one of the chapter included in the Business Environment Subject of (2nd Semester of Masters in Business Studies) Please give us your feedback and if anyone wants the slides, email me at linkme2prem@gmail.com .
Thank you.
The document discusses key concepts related to bureaucracy in the United States government. It defines different types of bureaucracies like commissions, corporations, and independent agencies. It also explains bureaucratic concepts such as the spoils system, patronage, civil servants, privatization, and accountability. Max Weber is mentioned as developing theories around bureaucracy. The roles of Congress, the president, and department heads in overseeing bureaucracies are summarized.
Lessons Learned The History Of Continuing Legal Education Andlegal5
The history of mandatory continuing legal education (MCLE) in Indiana began in the 1950s as the practice of law became more complex. In response, the Indiana State Bar Association launched educational initiatives like the Res Gestae magazine and seminars. This highlighted the need for more continuing education. The Indiana Continuing Legal Education Forum (ICLEF) was then established in 1964 to further support continuing legal education. Over the following decades, ICLEF grew their programming and organizational capabilities. By the 1980s, they were providing many live and recorded seminars across the state, building the case for Indiana to officially adopt mandatory CLE through a Supreme Court rule in 1986.
This document provides an overview and guide to investing in Myanmar. It discusses the types of companies foreign investors can establish, including 100% foreign owned companies or joint ventures. It also outlines the application procedures and capital requirements to obtain necessary permits and approvals from the Myanmar government. The guide highlights Myanmar's potential for investment opportunities across many industries due to its abundance of natural resources and strategic location in Southeast Asia.
Economic laws are statements of general tendencies that describe unchanging relationships between economic events under certain circumstances. They are postulated by economists based on observation and analysis, and include laws like the Law of Demand, Law of Supply, and Law of Diminishing Marginal Utility. Economic laws are less exact than natural laws, are essentially hypothetical, relative, and qualitative rather than quantitative. They apply on average under normal conditions and describe human behavior that can be measured in terms of money.
The document discusses the influence of the Chinese Communist Party (CCP) on business laws in China. It explains that the CCP is the main lawmaking body and all business laws must be discussed and passed by the CCP. It describes the legislative process for passing laws and the roles of the Politburo Standing Committee and the National People's Congress. The CCP has significant control over business law reforms and strategic plans to further open China's market.
International political environment - class materialErnesto Luna
The document discusses several factors in the political and legal environments that can affect international business:
In the political environment, it discusses nation-states and sovereignty, political risk, taxes, dilution of equity control, and expropriation. In the legal environment, it discusses international law, establishment of business, jurisdiction, intellectual property (patents, trademarks, copyright), antitrust laws, and the role of the World Trade Organization in international trade. Overall, the document outlines important political and legal considerations for international businesses operating across borders.
History Of The Association Of Legal Aid Attorneys Uaw Local 2325legal5
The document provides a history of the Association of Legal Aid Attorneys union (ALAA) from its founding in 1968 through 1999. It summarizes that ALAA was founded to advocate for improved working conditions and client representation at the New York Legal Aid Society. In its early years from 1968-1972, ALAA fought for basic resources like offices, phones, training and continuity of client representation. This led to its first strike in 1970. Strikes in 1973 and 1974 achieved some gains but also faced judicial backlash. ALAA continued advocating for clients and fighting for improvements over the decades.
The document discusses various aspects of political and legal environments that can impact international business operations. It covers topics like political ideology, political risk, managing political risk, legal systems, intellectual property rights, and legal issues companies may face when starting, operating, and closing international business. Key considerations for companies include understanding the political situation and key stakeholders, complying with different legal origins and regulations between countries, and properly managing risk.
The political environment directly affects the business environment and ethics. A typical bureaucratic political system can hamper business through long start-up processes and lack of empowerment. In contrast, an efficient government ensures economic development. When businesses can bypass laws due to politics, ethics and morality are undermined. Recent scams in India totaling tens of thousands of crores of rupees show how politics can negatively impact businesses and investors. Empowering people and balancing interests can help the economic environment flourish.
Module of contracts and economics in the subject Law & Economics as taught under most syllabi in the Indian Legal Education system with context to BBA LLB Hons. Degrees.
From 4th Year student of School of Law, MUTC.
Gay Marriage Should Be Legalized Essay.pdfEvelin Santos
Gay marriage should be legal - GCSE English - Marked by Teachers.com. Should Gay Marriage Be Legalized? - GRIN. Gay Marriage - Should Homosexual Marriages Be Recognized Legally At .... In Gay Marriage Debate, Both Supporters and Opponents See Legal .... Gay Marriage - GCSE Miscellaneous - Marked by Teachers.com. Gay marriages should be made legal - Do you agree or disagree? Discuss .... How should court rule on gay marriage? #tellusatoday. Why support for gay marriage has risen so quickly - The Washington Post. ≫ Lesbian and Gay Rights and Discrimination of Homosexuals Free Essay .... Sociology Archives - Page 10 of 41 - Yourhomeworksolutions. Against nature: How arguments about the naturalness of marriage .... Judge: Fla. must honor other states' gay marriages. Gay Marriage Around the World | Pew Research Center. Growing Support for Gay Marriage: Changed Minds and Changing .... Gay Marriage Should Be Legalized Essay Example | Topics and Well .... Essay Gay Marriage | Same Sex Marriage | Homosexuality. What Will Happen If Gay Marriage
This document is the 2014 annual report of the Private Equity Growth Capital Council (PEGCC). It summarizes that 2014 was a successful year for the private equity industry, with record returns of $130 billion to investors, but it also faced increased regulatory and public challenges. The PEGCC responded aggressively to these challenges through expanded advocacy, research, and member services. Key accomplishments included preventing tax increases proposed by the House Ways and Means Chairman, increased regulatory engagement, and new member programs and events on issues like environmental and social governance. Looking ahead, the PEGCC will continue advocating for the industry on tax, regulatory, and other policy issues in 2015.
Best Essay Writer.pdfBest Essay WriterElena Nongos
The document discusses how atmospherics are important for increasing customer purchases at The Body Shop retail stores in Hong Kong. It provides background on The Body Shop and its values of community trade, human rights, and environmental protection. Key aspects of retail atmospherics that could influence shopping behaviors are analyzed, such as the physical environment, store layout, lighting, music, and scent.
A Government Agency With Fice Of Quality, Performance, And...Chelsea Porter
The document discusses various government agencies and their roles in regulating behavior and enforcing statutes passed by Congress and the executive branch. It notes that regulatory agencies exist at the federal, state, and local levels. The Food and Drug Administration and Federal Election Commission are provided as examples of federal regulatory agencies that carry out mandates from Congress. The document also discusses the three levels of government in the US - federal, state, and local - and how each draws legitimacy from the Constitution but also has its own authority and jurisdiction.
This Essay Will Discuss. Discussi. Online assignment writing service.Mandy Cross
This document discusses a model for computer systems research. It presents data showing variability between reviewers and that paper merit follows a Zipf distribution. Using game theory, the author argues that with noisy reviews and Zipf-distributed merit, authors have an incentive to submit papers too early and often, making reviewing conferences and research less efficient. The paper focuses on modeling the systems research community as a peer-to-peer system due to similarities like decentralized control. Progress occurs through cooperation rather than central coordination.
Epic Financial Funding is expanding its operations to India by opening a new location focused on clean water and alternative power projects. Epic understands India's growing needs for energy and clean water due to its fast economic growth. The United States also recognizes India's needs and President Obama pledged financial support for India's large solar energy program. Epic is led by Managing Partner Phillip Carson, with a board that includes experienced individuals from various backgrounds such as technology, healthcare, banking, and energy. The company also works with consultants like Joseph Langston, an oil and gas industry veteran.
Wassim Zhani Business Law by Mallor 14th Edition.pdfWassim Zhani
This document provides information about the 14th edition of the textbook "Business Law: The Ethical, Global, and E-Commerce Environment". It lists the authors and their credentials and experience in business law. It describes the features and strengths of the textbook, including its comprehensive coverage of topics, clear writing style, selection of cases, and alignment with curriculum standards. It outlines new features and changes in this 14th edition, such as inclusion of e-commerce issues in contracts chapters and coverage of recent legislation and court cases.
Overseas Indians represent a vast pool of potential investors, entrepreneurs, and corporate leaders whose skills and expertise can contribute to India's rapid economic growth. The document discusses the Financial Services Division of the Indian government, which seeks to facilitate partnerships between overseas Indians and Indian businesses to promote investment and growth. The division aims to ease business operations in India, provide advisory services, and catalyze partnerships. It establishes frameworks to smooth the investment process and works with organizations like Overseas Indian Facilitation Centre to provide resources and guidance to overseas investors.
In this exclusive webinar, our panelists will discuss what’s going on with transfer pricing as we enter a new decade. This discussion will include new laws affecting this sector, technologies available to facilitate compliance, and plenty more!
1. Heavy taxation by the British government: The British imposed taxes on the colonists through various acts like the Stamp Act and Tea Act without representation in Parliament. This led to unrest and protests among colonists who believed in "no taxation without representation."
2. Restriction of colonists' expansion: The British tried to restrict colonial expansion west of the Appalachian Mountains with the Proclamation of 1763 to protect Native American lands. This angered the colonists.
3. Desire for self-governance: The colonists increasingly wanted more autonomy and self-governance. They resented the control exerted by the British
The document evaluates the external communications of New Belgium Brewery Company (NBBC). NBBC effectively communicates its mission of being environmentally and socially responsible through its website, social media, and partnerships. NBBC also emphasizes a strong company culture of employee ownership and involvement in strategic planning. The company's sustainability efforts have helped generate positive publicity and recognition for NBBC.
This bill proposes the Opportunity to Work Act, which would require employers with 10 or more employees to offer additional work hours to existing employees before hiring new employees or subcontractors. It would require employers to use a transparent process to distribute extra hours and maintain documentation of hiring and scheduling. Employees could file complaints with the Division of Labor Standards Enforcement or bring civil lawsuits for violations. The bill aims to increase opportunities for existing employees but may burden employers with inflexible scheduling mandates and excessive litigation risks. It remains to be seen how the proposed law would impact businesses and employment.
MBA Compliance Essentials Diversity and Section 342 Resource Guide MBAMortgage
The document provides biographies of individuals and information about firms involved in publishing a resource guide on diversity and Section 342 compliance. It includes biographies of Anthony Sharett and Keesha Warmsby, partners at Baker Hostetler LLP, and Kristin Messerli, president of Cultural Outreach Solutions. It also provides information on Baker Hostetler as a large international law firm and Cultural Outreach Solutions as a consulting firm specializing in diversity compliance. The document concludes with copyright and disclaimer information related to the resource guide.
Deloitte’s fourth version of its ‘Look before you leap’ survey on globalrisk includes much more focus on the Foreign Corrupt Practices Act(FCPA), due in part to increased enforcement of the regulation overthe past decade.
The document provides a summary of Whitney Drechsler's professional background and qualifications. It outlines her education, including degrees in law and international taxation from Thomas Jefferson School of Law. It also lists her legal experience working as a contract attorney for two law firms specializing in estate planning, taxes, and business matters. Additionally, it includes publications, professional associations, and areas of interest.
Distance Learning for Legal Education Best PracticesWilliam Byrnes
The document summarizes key topics from a conference on distance learning in legal education. It discusses trends in online LL.M. programs, hybrid J.D. programs, and the relaxation of ABA standards. It also outlines chapters that address delivery methods, instructional technologies, student assessment, support services, training, intellectual property issues, and business models. Recommendations include focusing technologies on learning outcomes, using blended approaches, and assessing student and program effectiveness.
This document discusses the requirements and challenges of FATCA compliance for foreign financial institutions and entities. It provides examples of different types of entities that would be considered FFIs, such as investment funds, insurance companies, and trusts managed by financial institutions. It also discusses exemptions from FFI status, such as foreign governments and registered deemed compliant entities. Implementation of FATCA poses significant financial and operational challenges for covered entities in modifying systems and processes to comply with new reporting and withholding requirements.
This document summarizes models and trends related to money laundering. It discusses various models that can be used to measure and predict money laundering, including currency demand approaches, pricing approaches, MIMIC models, and applying Newton's law of gravitation. It also outlines typologies of money laundering including those related to securities, trade, counterfeit goods, sports clubs, child pornography, and government contracting. Specific estimates and predictive modeling techniques are discussed.
Professor William Byrnes' powerpoint for the Regulatory Impact Analysis lectures in the Law & Economics course. Study the materials beforehand as class will only be a facilitated discussion of regulatory case studies and policy initiatives
Flipping the Legal Education Classroom presentationWilliam Byrnes
This document discusses the design and development of a program/course that has flipped its classroom model from a live lecture-based format to online. It outlines 5 concentrations offered and identifies challenges of IT support and differentiation. It provides strategies for implementing the flipped classroom approach including recorded sessions, live sessions in a dynamic learning environment, and assessing outcomes through formative and summative assessments. Faculty blogs are also listed.
Cambridge anti money laundering lecture 2008William Byrnes
This document discusses the high costs that financial institutions face in complying with anti-money laundering (AML) regulations and whether these expenditures are optimally utilized. It notes that while AML compliance costs have doubled or more for many institutions since 2001, numerous enforcement actions have still been taken against banks for deficiencies in areas like staff training and expertise. The document suggests that rather than simply increasing budgets, institutions need to ensure training programs are well-designed and provide ongoing support and guidance to staff, in order to maximize the return on their AML compliance expenditures.
This document discusses the details of an online LL.M. program in international taxation. It provides information on the program's founders, market size for legal and financial services, competitive landscape for tax LL.M. programs, potential subject matter experts and textbook publishers. It also outlines considerations for course methodology, career outcomes for graduates, alumni testimonials, library resources and career support services.
This document provides a summary of key concepts in US transfer pricing jurisprudence, rules, and documentation requirements relating to tangible goods and services. It was prepared by Professor William Byrnes for an international tax planning conference in 1998. The summary covers topics such as the arm's length standard, comparable uncontrolled transactions, functional analysis, economic risks, documentation requirements, penalties for noncompliance, and advance pricing agreements.
Controlled Foreign Company Regimes (Mumbai 1999)William Byrnes
This document provides an overview and introduction to controlled foreign company (CFC) regimes. It begins by defining key terms related to CFCs, including explaining that CFC rules impose domestic tax liability on resident shareholders for profits generated in foreign entities located in lower-tax jurisdictions. It then discusses the policy reasons for CFC regimes, including balancing payments, limiting capital accumulation abroad, and protecting domestic tax bases. The document outlines the fundamental elements of CFC regimes, such as breaking the nexus between taxpayers and foreign income. It concludes by promising a comparative overview of CFC regime characteristics in various countries.
This document discusses several offshore destinations for e-commerce including India, Ireland, Switzerland, Singapore, Hong Kong, Mauritius, Cyprus, Malta, Isle of Man, Bermuda, Gibraltar, and Malaysia. It notes popular attributes like skilled labor costs, tax incentives, government support, and regulatory frameworks. Specific places like Hong Kong, Bermuda, Isle of Man, and Cyprus are discussed in more detail regarding their telecommunications infrastructure, legal/regulatory issues, and available internet/banking services for e-commerce.
The document summarizes a presentation given at the Florida Bar Association about legal process outsourcing to India. It discusses how experts are made, not born, through efficient learning techniques informed by neuroscience and psychology. These include cognitive protocols, learning frameworks, and memory protocols to efficiently acquire large bodies of knowledge needed for legal work. The presentation provided an overview of relevant studies and introduced a summit program with materials to expand knowledge from entry-level through career-long learning in the legal field.
CAPES distance education best practices November 2012William Byrnes
Expanding the universe of perspectives for the lawyer’s toolkit through exposure to foreign legal concepts and foreign legal solutions allows an expanded frame for creative problem solving of local issues, legal pedagogy, distance education
trade & investment among countries in general, and Brazil USA specifically creates legal and economic overlap (See draft Cross-Border Tax Syllabus attached)
"Diverse groups of problems solvers
– groups of people with diverse tools –
consistently outperform groups of the best & the brightest”
Global OFC trends: past & present
Economic and Social Economic Impact of Offshore Financial Services
Forecasting future OFC and its services
Challenges to OFCs
Global Initiatives that Impact OFCs
EU Initiatives
Domestic UK, US, Italian, other Initiatives
Physician’s risk management from judgment creditorsWilliam Byrnes
Professor William H. Byrnes, IV presents on physician risk management strategies against judgment creditors. The document discusses classes of risk physicians face, including personal, family, business, and criminal. It assesses risks through calculable percentages and conditioning factors. Domestic exemptions in Florida are outlined, including wages, homestead, insurance, retirement plans, and joint property. Entities like LLCs and trusts are presented as risk management techniques, as well as asset protection strategies both domestic and offshore. The professor concludes by thanking the audience and wishing them to enjoy the cruise.
Typologies in general examined -
Securities
Trade Based
Counterfeit Trade
Sports Clubs (and Equestrian)
Child Pornography & Human Trafficking
Government Contracting / Bribery / PEPs
Internet Based Market Systems
Currency Demand Approach
Pricing Approach
Multiple Indicators Multiple Solutions (MIMIC)
Measurement of Crimes Model
Newton’s Law of Gravity applied to ML
Regulatory Impact Analysis - Law & Economics courseWilliam Byrnes
The document discusses key considerations for conducting a regulatory impact analysis (RIA). It outlines frameworks for assessing the problem, objectives, and alternative approaches. It also discusses factors like market failures, affected groups, costs, policy tools, and analyses like benefit-cost analysis. The document emphasizes establishing a baseline, considering impacts on competition, collecting data, and examining voluntary compliance and enforcement approaches. The overall aim is to evaluate regulatory proposals and identify the most effective and efficient options.
The Dodd-Frank Wall Street Reform and Consumer Protection Act (Wall Street Reform Act) comprehensively reforms regulation of financial services in response to the 2007-2010 financial crisis. Key provisions include:
1. Granting the SEC authority to establish a fiduciary standard for broker-dealers providing investment advice.
2. Requiring the SEC to modify the "accredited investor" standard for private placements by revising the net worth threshold.
3. Permitting the SEC to prohibit or restrict mandatory securities arbitration agreements.
4. Shifting regulatory authority over certain investment advisors from the SEC to state governments.
5. Requiring registration of hedge funds and private equity firms with over $150 million
The document discusses new US international reporting requirements including the Foreign Account Tax Compliance Act (FATCA). FATCA requires foreign financial institutions and entities to report US persons' foreign accounts and identify US substantial owners to the IRS. It also requires withholding on US-source payments if no agreement is in place. Other reporting requirements covered include the FBAR, currency transaction reports, and suspicious activity reports. Typologies of money laundering through securities, trade, counterfeiting, and other means are also summarized. Predictive modeling techniques for analyzing transaction data are mentioned.
The document discusses a summit program presented by clinical psychologists and professors on applying neuroscience and learning psychology concepts to pedagogy. The presentation addresses whether experts are born or made and focuses on efficient learning techniques. It explores cognitive limits and memory protocols, and analyzes studies on multi-tasking and attention. The summit program aims to expand knowledge and provide lifelong learning approaches applicable to legal and other education fields.
How Barcodes Can Be Leveraged Within Odoo 17Celine George
In this presentation, we will explore how barcodes can be leveraged within Odoo 17 to streamline our manufacturing processes. We will cover the configuration steps, how to utilize barcodes in different manufacturing scenarios, and the overall benefits of implementing this technology.
Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) CurriculumMJDuyan
(𝐓𝐋𝐄 𝟏𝟎𝟎) (𝐋𝐞𝐬𝐬𝐨𝐧 𝟏)-𝐏𝐫𝐞𝐥𝐢𝐦𝐬
𝐃𝐢𝐬𝐜𝐮𝐬𝐬 𝐭𝐡𝐞 𝐄𝐏𝐏 𝐂𝐮𝐫𝐫𝐢𝐜𝐮𝐥𝐮𝐦 𝐢𝐧 𝐭𝐡𝐞 𝐏𝐡𝐢𝐥𝐢𝐩𝐩𝐢𝐧𝐞𝐬:
- Understand the goals and objectives of the Edukasyong Pantahanan at Pangkabuhayan (EPP) curriculum, recognizing its importance in fostering practical life skills and values among students. Students will also be able to identify the key components and subjects covered, such as agriculture, home economics, industrial arts, and information and communication technology.
𝐄𝐱𝐩𝐥𝐚𝐢𝐧 𝐭𝐡𝐞 𝐍𝐚𝐭𝐮𝐫𝐞 𝐚𝐧𝐝 𝐒𝐜𝐨𝐩𝐞 𝐨𝐟 𝐚𝐧 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫:
-Define entrepreneurship, distinguishing it from general business activities by emphasizing its focus on innovation, risk-taking, and value creation. Students will describe the characteristics and traits of successful entrepreneurs, including their roles and responsibilities, and discuss the broader economic and social impacts of entrepreneurial activities on both local and global scales.
Gender and Mental Health - Counselling and Family Therapy Applications and In...PsychoTech Services
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Chapter wise All Notes of First year Basic Civil Engineering.pptxDenish Jangid
Chapter wise All Notes of First year Basic Civil Engineering
Syllabus
Chapter-1
Introduction to objective, scope and outcome the subject
Chapter 2
Introduction: Scope and Specialization of Civil Engineering, Role of civil Engineer in Society, Impact of infrastructural development on economy of country.
Chapter 3
Surveying: Object Principles & Types of Surveying; Site Plans, Plans & Maps; Scales & Unit of different Measurements.
Linear Measurements: Instruments used. Linear Measurement by Tape, Ranging out Survey Lines and overcoming Obstructions; Measurements on sloping ground; Tape corrections, conventional symbols. Angular Measurements: Instruments used; Introduction to Compass Surveying, Bearings and Longitude & Latitude of a Line, Introduction to total station.
Levelling: Instrument used Object of levelling, Methods of levelling in brief, and Contour maps.
Chapter 4
Buildings: Selection of site for Buildings, Layout of Building Plan, Types of buildings, Plinth area, carpet area, floor space index, Introduction to building byelaws, concept of sun light & ventilation. Components of Buildings & their functions, Basic concept of R.C.C., Introduction to types of foundation
Chapter 5
Transportation: Introduction to Transportation Engineering; Traffic and Road Safety: Types and Characteristics of Various Modes of Transportation; Various Road Traffic Signs, Causes of Accidents and Road Safety Measures.
Chapter 6
Environmental Engineering: Environmental Pollution, Environmental Acts and Regulations, Functional Concepts of Ecology, Basics of Species, Biodiversity, Ecosystem, Hydrological Cycle; Chemical Cycles: Carbon, Nitrogen & Phosphorus; Energy Flow in Ecosystems.
Water Pollution: Water Quality standards, Introduction to Treatment & Disposal of Waste Water. Reuse and Saving of Water, Rain Water Harvesting. Solid Waste Management: Classification of Solid Waste, Collection, Transportation and Disposal of Solid. Recycling of Solid Waste: Energy Recovery, Sanitary Landfill, On-Site Sanitation. Air & Noise Pollution: Primary and Secondary air pollutants, Harmful effects of Air Pollution, Control of Air Pollution. . Noise Pollution Harmful Effects of noise pollution, control of noise pollution, Global warming & Climate Change, Ozone depletion, Greenhouse effect
Text Books:
1. Palancharmy, Basic Civil Engineering, McGraw Hill publishers.
2. Satheesh Gopi, Basic Civil Engineering, Pearson Publishers.
3. Ketki Rangwala Dalal, Essentials of Civil Engineering, Charotar Publishing House.
4. BCP, Surveying volume 1
Leveraging Generative AI to Drive Nonprofit InnovationTechSoup
In this webinar, participants learned how to utilize Generative AI to streamline operations and elevate member engagement. Amazon Web Service experts provided a customer specific use cases and dived into low/no-code tools that are quick and easy to deploy through Amazon Web Service (AWS.)
Traditional Musical Instruments of Arunachal Pradesh and Uttar Pradesh - RAYH...
Legal Process Outsourcing (LPO)
1. Prof. William H. Byrnes, IV Page 1 of 12
Walter H. & Dorothy B. Diamond International Tax & Financial Services Program
2121 San Diego Ave. San Diego, California 92110
T +1 (619) 297-9700 F +1 (619) 374-6957
I: http://www.llmprogram.org - www.tjsl.edu
Legal Process/Service Outsourcing
India
Florida Bar Association
November 14, 2008
Prof. William H. Byrnes, IV
As. Dean, Thomas Jefferson School of Law
D +1 (619) 297-9700 ext. 6955 C +1 (786) 271-5202
Email wbyrnes@tjsl.edu
2. Prof. William H. Byrnes, IV Page 2 of 12
Walter H. & Dorothy B. Diamond International Tax & Financial Services Program
2121 San Diego Ave. San Diego, California 92110
T +1 (619) 297-9700 F +1 (619) 374-6957
I: http://www.llmprogram.org - www.tjsl.edu
1. Introduction
These lecture notes present an overview of issues related to the discussion of today’s panels
regarding legal process / service outsourcing to India. My particular discussion topic is intended
to focus upon our groundbreaking technology and pedagogical developments for educating your
Indian legal process outsourcing workforce, for which I will refer to my power-point slides. Finally,
time allowing, I will discuss two tax issues mentioned below, those being (1) India source based
taxation / permanent establishment considerations, and (2) transfer pricing considerations. Each
of the other issues will be addressed thoroughly by the relevant subject matter expert chosen by
our distinguished Florida Bar conference chair Rahul Ranadive.
I have provided citations to relevant sources that you may jump start your research for legal
process outsourcing for India. Please contact me if you require more detailed suggested
resources to continue you research.
2. Background Relevant to Legal Process Outsourcing Presentation
In 1994-95, William H. Byrnes, IV, was a senior consultant for a significant non-resident Indian
acquisition of an India manufacturer, requiring leveraging of the Mauritius double tax agreement
and working with Mauritius and Indian tax and exchange control authorities. In 1996, Prof.
Byrnes outsourced to India a substantial text capture project in agreement with Kluwer Law
International for the creation of HTML hyperlinked online materials for a law program. Since
1995, Professor Byrnes has spoken numerous times in India at conferences and trainings held by
organizations such as the Bombay Management Association and for Bangalore’s charted
accountants. Last year he was invited to address the All India Federation of Tax Practitioner on
legal education for Indian tax process outsourcing. He co-authored the Indian chapter for Oxford
University Press/IBLS in its 2009 forthcoming treatise: E-COMMERCE TAXATION.
Prior to his tenured academic career, Prof. Byrnes was a senior manager then associate director,
international tax, Coopers and Lybrand (South Africa), which subsequently amalgamated into
Price Waterhouse. His primary clients at Coopers & Lybrand were FORBES 1000 MNEs and
also private banks, insurance companies, technology companies, and company service
providers, including HSBC PLC, Comparex (Persetel-QData), and Commercial Union. He
sourced multinational structuring and investment projects, completing the work cost effectively for
the clients via competently educated South African advisors. Since 1992 he has practiced law,
consulted and taught in Asia, Europe, Africa and The Americas.
Currently, Professor Byrnes is working with Thomas Jefferson School of Law to establish a roll
out for India of the www.barsecrets.com bar preparation program and the Summit legal
knowledge acquisition and performance system developed via the neuro-learning research and
empirical studies of world renown learning psychologists and lawyers Dr. Dennis Saccuzzo and
Dr. Nancy Johnson.
Professor Byrnes has been employed as a consultant to a number of governments on their fiscal
policy, including South Africa, Botswana, The United Kingdom, The British Virgin Islands, The
Turks and Caicos Islands, Anguilla and Montserrat. He is the primary author and team leader of
the 900-page UK commissioned REPORT ON THE ECONOMIC, SOCIO-ECONOMIC, AND REGULATORY
IMPACT OF THE TAX SAVINGS DIRECTIVE AND EU CODE OF CONDUCT ON BUSINESS TAXATION UPON
SELECTED OFFSHORE FINANCIAL CENTERS as well as a COMPETITIVENESS REPORT FOR SELECTED
OFFSHORE FINANCIAL CENTERS. Most recently, the Bureau of Labor Statistics, Department of
Labor (USA), consulted Prof. Byrnes about the impact of the constricted financial markets upon a
five year outlook for employment in financial services.
3. Prof. William H. Byrnes, IV Page 3 of 12
Walter H. & Dorothy B. Diamond International Tax & Financial Services Program
2121 San Diego Ave. San Diego, California 92110
T +1 (619) 297-9700 F +1 (619) 374-6957
I: http://www.llmprogram.org - www.tjsl.edu
Besides co-authoring and editing several course books published in cooperation with Kluwer Law
International for the Walter H. & Dorothy B. Diamond graduate program, such as PRINCIPLES OF
INTERNATIONAL TAXATION, TAX TREATIES, and also OFFSHORE FINANCIAL CENTERS, he is an co-
author for INTERNATIONAL TRUST/ COMPANY LAWS & WEALTH MANAGEMENT (Kluwer Law
International) as well as ANTI MONEY LAUNDERING, FINANCIAL CRIMES, COMPLIANCE & ASSET
RECOVERY (forthcoming Wolters Kluwer Financial Services). His textbook PRINCIPLES OF
INTERNATIONAL TAXATION published through Central Law Training (Wilmington PLC) is used by the
12,000 member Society of Trust and Estate Practitioners for its diploma course.
He is the revisions co-author for TAX AND TRADE BRIEFS (Matthew Bender), TAX HAVENS OF THE
WORLD (Matthew Bender) as well as TAX TREATY WITHHOLDING GUIDE (Matthew Bender), all
available through LexisNexis. Moreover, he co-authored the book TAX REFORM FOR SOUTH
AFRICA and served as Managing Editor of the EXCHANGE CONTROL ENCYCLOPAEDIA, which was
amalgamated into Butterworths’ EXCHANGE CONTROL ENCYCLOPAEDIA.
For Thomson-West, he is a revisions author for MERTENS, including Nonresident Aliens & Foreign
Corps (Mertens, no. 45), and a co-author for Claims for Refund (Mertens, no. 58), Income Tax
Returns and Disclosure (Mertens, no. 47) and Alimony and Divorce (Mertens, no. 31A), all
available through Westlaw. He is also the revisions author for the US Chapter for INTERNATIONAL
TAX SYSTEMS AND PLANNING TECHNIQUES available on Checkpoint.
In 1996, Prof. Byrnes pioneered real time online post graduate legal education, evolving from his
correspondence and residential lectures. In 1998, an ABA accredited law school received
acquiescence to host the online program. In 2005, Prof. Byrnes received tenure and full
professor status at St. Thomas University School of Law (Miami), as well as his peers electing
him Chairman of the Graduate Programs Committee of the American Association of Law Schools.
In 2007, he was appointed Assistant Dean at Thomas Jefferson School of Law in San Diego.
3. Economic Comparison: BPO and LPO Growth
Fees in India generated from USA sourced legal services are estimated to increase to $640
million within the next two years, employing 32,000 legal staff (from $146 million employing 7,500
in 2006, and only $80 million in 2005).1
In the past three years, legal outsourcing revenue has
grown approximately 60% annually.2
From just 2006 to 2007, growth of US companies
outsourcing legal services to India increased from 37% to 51%.3
By 2015 Forrester Research
projects $4 billion in legal services outsourced to India.
By contrasting example, this year India’s IT outsourcing revenues reached $64 billion, growing
33%, and breached the two million employment level.4
As Indian has accomplished phenomenal
growth since 1994 with its BPO information technology sector, so it is likely to in the BPO legal
services sector though as a much faster pace.
1
Offshoring Legal Services to India: an Update (Market Research Report), Valuenotes Database
Pvt. Ltd., July 2007 and Legal Outsourcing to India is Growing, but Still Confronts Fundamental
Challenges, Anthony Lin, New York Law Journal, January 2008. – see Mittal - NASSCOM
2
U.S. Legal Work Booms in India, Rama Lakshmi, Washington Post Foreign Service, May 11,
2008.
3
India Lures Corporate Outsourcing, Jonathan Hill, Law Technology News; October 14, 2008.
4
Indian IT-BPO Industry Factsheet, NASSCOM, August 2008 (available at
http://www.nasscom.in/Nasscom/templates/NormalPage.aspx?id=53615).
4. Prof. William H. Byrnes, IV Page 4 of 12
Walter H. & Dorothy B. Diamond International Tax & Financial Services Program
2121 San Diego Ave. San Diego, California 92110
T +1 (619) 297-9700 F +1 (619) 374-6957
I: http://www.llmprogram.org - www.tjsl.edu
4. Conditioning Drivers for LPO Growth
4.1 Litigation Costs
For medium size businesses, legal fees as a percentage of income are growing. In 2007
electronic data discovery expenditures increased 43% to $2.7 billion and are projected to reach
$4.6 billion by 2010.5
A recent Fulbright & Jaworski client study found that approximately 10% of
the clients responding reported legal fees represented about 5% of the company's gross annual
revenues.6
4.2 Compliance Costs
4.2.1 The Regulatory Environment7
For the past several years, the US banking industry and its legal/audit counsel has focused on
regulatory issues, such as the corporate governance provisions of the Sarbanes-Oxley Act
(enacted in 2002) and the banking-related parts of the USA Patriot Act (enacted in 2001). These
provisions are having a bottom line impact in terms of increasing expenditure resulting primarily
from increased staffing and technology. The provisions of the USA Patriot Act require increasing
investments in technology (though many in the industry have questioned the effectiveness of
these investments in preventing the funding of terrorist groups or activities) and staff hours that
smaller community banks have contended impact them disproportionately.
4.2.2 Increasing Compliance Costs
Senior banking management perceives rising and unpredictable compliance costs that undermine
US global competitiveness as the most significant threats to the future growth of banking.8
The
cost of AML compliance increased around 58% globally but 71% in North America between 2004
and 2007.9
A 2005 survey of Florida, in particular Miami, banks engaged in international banking estimated
the staffing cost of AML compliance at nearly $25 million. The study concluded that compliance
costs are not uniform across institutions, even after making adjustment for size.10
Banks
estimate that training costs and transaction monitoring will require the largest investment of all
AML activities.
Larger institutions (measured in terms of deposits) typically devote more resources and spend
more on compliance than smaller ones, of course, but the compliance burden does not rise
proportionately with size. That is, survey data indicates that economies of scale in compliance
are present, and that compliance costs per dollar of deposits is greater for smaller institutions
than for larger ones.11
Even after the dramatic increases in compliance costs and regulatory
5
India Lures Corporate Outsourcing, Jonathan Hill, Law Technology News, October 14, 2008.
6
India Lures Corporate Outsourcing, Jonathan Hill, Law Technology News, October 14, 2008.
7
STANDARD AND POOR'S INDUSTRY SURVEYS: BANKING (Dec. 6, 2007).
8
The Washington Economics Group, THE ECONOMIC IMPACTS OF INTERNATIONAL BANKING IN
FLORIDA AND INDUSTRY SURVEY: 2005.
9
KPMG'S GLOBAL ANTI-MONEY LAUNDERING SURVEY 2007.
10
The Washington Economics Group, THE ECONOMIC IMPACTS OF INTERNATIONAL BANKING IN
FLORIDA AND INDUSTRY SURVEY: 2005.
11
The Washington Economics Group, The Economic Impacts of International Banking in Florida
and Industry Survey: 2005.
5. Prof. William H. Byrnes, IV Page 5 of 12
Walter H. & Dorothy B. Diamond International Tax & Financial Services Program
2121 San Diego Ave. San Diego, California 92110
T +1 (619) 297-9700 F +1 (619) 374-6957
I: http://www.llmprogram.org - www.tjsl.edu
complexity since 2001, the regulatory environment is likely to become increasingly challenging in
coming years.
In a 2006 Economist Intelligence Unit survey, international senior bank executives were asked
about the costs of compliance with government regulation. When asked what changes they
expected in the regulatory environment over the coming three to five year, over 91% stated that
they expected regulations affecting their institution to grow in complexity and breadth, 88% stated
that compliance with industry regulations will become more onerous, and 81% reported that they
expect penalties for non-compliance to increase in severity.12
As a result, the international banking industry in Florida has been characterized by consolidation
and contraction since 2000. The number of foreign bank agencies operating in Florida fell from
38 in 2000 to 31 in 2005.13
There were 10 Edge Act banks operating in Florida in 2000, but only
7 in 2005. The number of international banking employees (in foreign agencies, Edge Acts and
the international divisions of domestic banks chartered in Florida) declined from 4,660 in 2000 to
3,027 in 2005.
Based on a survey of banks significantly engaged in international banking Florida International
Bankers Association (FIBA) was able to estimate the Florida international bankers staffing cost
for 271 full-time employees of anti-terrorism/anti-money laundering compliance at nearly $25
million in 2005. 14
The average survey respondents indicated that it devoted 2.9 FTE
employment positions to BSA/AML compliance in 2002 versus 6.8 FTE positions in 2005. The
number of full-time employees devoted to compliance represented 9% of the workforce in 2005.
Staff resources devoted to compliance increased by 160% between 2002 and 2005.
4.3 Document Review & Customization Costs
In 2003, a legal forms publisher, Socrates Media, reduced the cost for a fifty state customized
residential lease from approximately $400,000 to $45,000 via the Hyderabad company QuisLex.
15
A company’s legal department can reduce its document review costs from $7 to $10 per page in
the US to approximately $1 per page with Indian counsel.
16
Whereas New York associates
undertaking document review may earn a $160,000 base annually, similarly reviewing Indian
associates earn less than $10,000.
17
Contrast the annual increase of labor supply of 200,000
Indian law graduates (of a 1.2 billion population) versed in the Common law to that of the USA,
being 50,000 for 300 million population.
A US legal secretary’s average hourly cost is $63 under the realistic conditions of 80% annual
time utilization ($50 if 100% hourly utilization) based upon an $85,000 annual employee cost
including salary, benefits, and payroll tax.18
That of the New York associate will be double. In
12
Economist Intelligence Unit, Bank Compliance: Controlling Risk and Improving Effectiveness
(2006)
13
In 2005, however, 7 of the 31 international banks had no deposits booked in Florida, while in
2000 only 2 of the 38 had zero deposits.
14
Note that these cost estimates only include manpower or staffing costs, and do not include
costs such as transaction monitoring software, possible IT investments and services, legal
counsel and similar support.
15
U.S. firms outsource legal services to India, Cynthia Cotts and Liane Kufchock, Bloomberg
News, August 21, 2007.
16
Offshoring Legal Services to India: an Update (Market Research Report), Valuenotes Database
Pvt. Ltd., July 2007
17
India Lures Corporate Outsourcing, Jonathan Hill, Law Technology News, October 14, 2008.
18
Why and What Lawyers Should Consider Outsourcing, Ron Friedmann LLRX.com, Sept 1,
2008 (available at http://www.llrx.com/features/legaloutsourcingoptions.htm)
6. Prof. William H. Byrnes, IV Page 6 of 12
Walter H. & Dorothy B. Diamond International Tax & Financial Services Program
2121 San Diego Ave. San Diego, California 92110
T +1 (619) 297-9700 F +1 (619) 374-6957
I: http://www.llmprogram.org - www.tjsl.edu
2003, University of California (Berkeley) reported that whereas US paralegals and legal
assistants may average $18 hourly, the equivalent India positions earn between $6 and $8.19
5. Types of LPO Services
The legal services outsourced to India include: (1) secretarial including presentations, (2) legal
transcription, (3) legal publishing services, (4) document review including e-discovery, (5) legal
research, (6) business/market research, (7) litigation support, (8) contract drafting and review
services, (9) intellectual property, such as patent application and compliance, and (10)
administrative such as accounting and billing.20
6. Type of LPO Providers
The three categories of Indian outsource providers typically referred to are captive centers of
corporate legal departments, third party niche providers, and third party multiservice providers.21
7. List of LPO Providers
The website Prism Legal provides a vendor list of 111 firms providing outsourced legal service in
India and elsewhere for the US and UK markets.22
The Prism Legal list also includes
corporations and law firms leveraging legal offshore services, such as Dell, American Express,
Dupont, Puarolator Courier Inc., General Electric and Microsoft, as well as top law firms such as
Clifford Chance, Allen & Overy, Millbank Tweed, Jones Day, Kirkland & Ellis, White & Case; and
Chadbourne & Parke.23
8. Risk Management of Important Issues of LPO
The subject matter experts of the panels will address several important issues concerning
avoiding the sinkholes in the road to outsourcing.
8.1 Attorney Ethical Issues
In 2006 the New York City Bar Association published a formal opinion regarding the ethical
considerations of overseas legal outsourcing of services. The New York City Bar considered
19
Outsourcing the lawyers, Krysten Crawford, CNN/Money October 15, 2004; Outsourcing Legal
Services Abroad, K. William Gibson, Law Practice Magazine Volume 34 Number 5 July/August
2008 Issue Page 47.
20
Offshoring Legal Services to India: an Update (Market Research Report), Valuenotes Database
Pvt. Ltd., July 2007. Also see Why and What Lawyers Should Consider Outsourcing, Ron
Friedmann LLRX.com, Sept 1, 2008 (available at
http://www.llrx.com/features/legaloutsourcingoptions.htm).
21
Contract with India: Legal outsourcing, Jim Middlemiss, Financial Post (Canada), April 25,
2008.
22
http://www.prismlegal.com/index.php?option=content&task=view&id=88&Itemid=70#Intro (last
visited October 30, 2008).
23
Also see Contract with India: Legal outsourcing, Jim Middlemiss, Financial Post (Canada), April
25, 2008; U.S. firms outsource legal services to India, Cynthia Cotts and Liane Kufchock,
Bloomberg News, August 21, 2007; and India Lures Corporate Outsourcing, Jonathan Hill, Law
Technology News, October 14, 2008.
7. Prof. William H. Byrnes, IV Page 7 of 12
Walter H. & Dorothy B. Diamond International Tax & Financial Services Program
2121 San Diego Ave. San Diego, California 92110
T +1 (619) 297-9700 F +1 (619) 374-6957
I: http://www.llmprogram.org - www.tjsl.edu
whether a New York lawyer may “ethically outsource legal support services overseas when the
person providing those services is (a) a foreign lawyer not admitted to practice in New York or in
any other U.S. jurisdiction or (b) a layperson?”24
That bar association concluded that a lawyer
may do so, upon meeting the following conditions (quoted from its opinion)25
:
(a) rigorously supervises the non-lawyer, so as to avoid aiding the non-lawyer in the
unauthorized practice of law and to ensure that the non-lawyer’s work contributes to the
lawyer’s competent representation of the client; (b) preserves the client’s confidences
and secrets when outsourcing; (c) … avoids conflicts of interest when outsourcing; (d)
bills for outsourcing appropriately; and (e) … obtains the client’s informed advance
consent to outsourcing.
Earlier this year, the Florida Bar Association addressed the same issue and it found no distinction
between hiring contract paralegals in the US and contract foreign (specifically Indian) attorneys
outside the US, concluding that contractual legal services do not aid the unlicensed practice of
law if the Florida law firm provides adequate supervision.
26
8.2 Security
The legal and operational issues that perhaps attracts the most attention, and deservedly so,
because of a few highly publicized cases, are privacy, confidentiality and the preservation of
privilege. These issues require a robust discussion of operational data security, institutional /
LPO governance, and employee security as well as quality control for processes and compliance
verification.
By example of addressing security concerns, outsourcing contracts mitigate the disclosure of
documents by mandating the LPO employees’ computers have Internet access limited.
27
Note
that in India anyone with access to customer records is free to sell the data, or use it for direct
marketing. However, pending legislation (the Personal Data Protection Bill, 2006) will if passed
protect data provided to the Government and private entities from being sold or used for direct
marketing.
8.3 Professional Indemnity
By example of addressing professional indemnity and security liability concerns for which the US
contracting source firm will inevitably be liable to its clients, LPO contracts may mandate
professional liability coverage written by US based insurers, with a certificate of coverage
provided annually.
28
Naturally, heightened insurance and compliance/verification will increases
the LPO firm’s operational costs, pressuring its margin and pricing.
8.4 Expertise Legacy
The subject matter experts of the panels will likely discuss the purported high attrition among US
24
The Association of the Bar of the City of New York Committee on Professional and Judicial
Ethics, Formal Opinion 2006-3, August 2006.
25
The Association of the Bar of the City of New York Committee on Professional and Judicial
Ethics, Formal Opinion 2006-3, August 2006.
26
Professional Ethics Of The Florida Bar (Opinion 07-2); January 18, 2008.
27
Legal Outsourcing to India Is Growing, but Still Confronts Fundamental Issues, Anthony Lin,
New York Law Journal, January 23, 2008.
28
Legal Outsourcing to India Is Growing, but Still Confronts Fundamental Issues, Anthony Lin,
New York Law Journal, January 23, 2008.
8. Prof. William H. Byrnes, IV Page 8 of 12
Walter H. & Dorothy B. Diamond International Tax & Financial Services Program
2121 San Diego Ave. San Diego, California 92110
T +1 (619) 297-9700 F +1 (619) 374-6957
I: http://www.llmprogram.org - www.tjsl.edu
contract attorney staffing versus the high retention, thus legacy experience, of Indian LPO
providers.
Moreover, LPO proponents state that Indian LPO multiservice providers may be leveraged by
their US counterparts to (1) reduce fixed staffing costs of associates and paralegals, (2) mitigate
the capital investment and IT operational costs necessary for purchasing, implementing, and
keeping abreast of, legal technology for document review, and (3) cross-fertilization obtained form
experience with multitudes of varying projects.29
8.5 Functional Equivalency & Education / Training
However, while India may have four times the amount of law graduates, are these graduates the
functional equivalent of a US associate? One of my colleagues poses the question that if the
Indian graduate attorney was the functional equivalent, then why doesn’t his and other firms, like
the technology industry, import Indian trained lawyers? While it is not uncommon for United
Kingdom trained solicitors to be employed by US firms, the same cannot be said of Indian
graduates.
Is the equivalency up to par with US paralegal training? How can a US firm verify
professionalism and level of expertise?
More importantly for the LPO industry, if components are missing in India’s legal education that
impact functional equivalency, what are these components and can these be effectively
transferred?
By example, many India law graduates do attend one-year Master of Laws in the United States.
Is the LL.M. necessary to rectify any (perceived) differences? Will staff’s passage of the
penultimate multistate bar examination, by example in Washington DC, New York or California,
provide Indian LPO firms competitive advantage to obtaining work, or disadvantage because the
(now US) attorney may command a higher wage?
Some LPO providers state that as long as a Indian based U.S.-trained lawyer oversees the Indian
staff, the work product will be of equivalent quality. May a US firm consider this supervision
sufficient for certain contracted skill sets, such as document review?
As a counterpoint to this equivalency issue, some LPO marketers state that Indian law graduates
are better, rather than equivalent, to their US associate counterparts, by example, because of
motivation.
8.6 Tax Issues
8.6.1 Attraction of Income Tax
An Indian resident's total income includes their worldwide income "from whatever source
derived." Thus, a resident's income need not be received in India to be subject to the income tax.
An Indian resident's total income includes income received in India, income "accruing or arising in
India," and income "accruing or arising outside India."
30
The total income of a person who is not
ordinarily resident in India does not include foreign source income unless the income is derived
from an Indian company.31
29
Why and What Lawyers Should Consider Outsourcing, Ron Friedmann LLRX.com, Sept 1,
2008 (available at http://www.llrx.com/features/legaloutsourcingoptions.htm).
30
Income Tax Act § 5(1).
31
Income Tax Act § 5(1) (flush language).
9. Prof. William H. Byrnes, IV Page 9 of 12
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The Indian government taxes some types of income based on the source of the income. Of
particular importance to users of LPO services is the source-based taxation of income from a
business connection in India. A nonresident's total income includes income received in India and
income "accruing or arising" in India.32
Income is deemed to accrue or arise in India when it
comes directly or indirectly from any business connection in India.33
Under Indian domestic tax law, some payments to nonresidents are subject to a non-final
withholding tax. Income from sources other than royalties are subject to withholding at the current
rates in force.34
Any person in India who has a business connection with a nonresident or from
whom the nonresident receives income directly or indirectly is considered to be an agent of the
nonresident.35
An agent is treated as a “representative assessee” of the nonresident and must
deduct the tax at the source and pay that amount to the Government.36
However, India does not
require withholding from remittances from a branch to a foreign parent.
8.6.2 Tax Treaty Protection
Under India's Double Taxation Avoidance Agreements (DTAA), the business profits of a
nonresident may only be taxed in India if the profits are attributable to a permanent establishment
in India. India's DTAAs are more similar to the U.N. Model Double Taxation Convention rather
than the OECD’s. The definition of "permanent establishment" (PE) under India's DTAAs is
generally consistent with the definition found in the UN Model Convention. Included in the
definition of PE is a person, other than an independent agent, who has the authority to, and does
habitually conclude contracts in the name of the nonresident person. Also included is a person
authorized to, and who habitually does, keep a stock of goods for the nonresident and regularly
delivers the goods on behalf of the nonresident.
37
Business income is taxable in India if the income is attributable to a permanent establishment in
India. A nonresident person may be taxed in India even if the nonresident does not have a
physical presence in India. For instance, the Income Tax Appellate Tribunal has held that
nonresident companies operating reservation systems servicing Indian residents are subject to
the income tax under Indian treaty law (and domestic law).38
India's domestic tax law applies to
nonresidents when the domestic tax law is more beneficial to the taxpayer.39
8.6.3 Recent Treaty Based Decision Impacting BPOs / Transfer Pricing Issue
In a landmark Supreme Court decision in summer of last year that impacted many captive LPO
providers, the Court substantively agreed with the conclusion of the 2006 Authority for Advance
Ruling’s determination that Morgan Stanley’s Indian BPO subsidiary constituted a permanent
establishment, though the Court’s and Authority’s analysis diverged.40
The Court’s analysis of
32
Income Tax Act § 5(2).
33
Income Tax Act § 9(1)(i).
34
Income Tax Act § 195(1) and. § 194(J).
35
Income Tax Act § 163(1)(b), (c).
36
Income Tax Act §§ 161, 190.
37
See e.g. Convention for the Avoidance of Double Taxation and the Prevention of Fiscal
Evasion with Respect to Taxes on Income, India-Austria, Nov. 8, 1999, India Income Tax
Department, art. 5.
38
Galileo International Inc. v. DCIT, ITA No. 1733/Del/2001; 2473 to 2475/Del/2000; 820 to
823/Del of 2005 (Nov. 30, 2007).
39
Income Tax Act § 90(2).
40
Civil Appeal No. 2914 of 2007 arising out of S.L.P. (C) No. 12907 of 2006, M/s DIT
(International Taxation), Mumbai v. M/s Morgan Stanley & Co. Inc., with Civil Appeal No. 2915 of
10. Prof. William H. Byrnes, IV Page 10 of 12
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the permanent establishment issue focused on the oversight/quality control employees of Morg
Stanley deployed to its Indian subsidiary.
an
However, the inevitable question of determination of taxable income of the subsidiary whether in
its own right or as a permanent establishment is answerable via a transfer pricing functional
analysis. The Court ruled that the Transaction Net Margin Method was an appropriate method for
determining the arm’s length price between the associated parties.
We can discuss the facts, reasoning, and criticisms, in the session or during break as time
permits.
9. LPO Education & Training - Bridging Gaps of US Knowledge Requirements
Thomas Jefferson School of Law, via its Bar Secrets.com program, has uniquely created a full US
bar review program based upon the latest discoveries in learning psychology, neuro learning
linguistics and its own empirical testing. Moreover, only Thomas Jefferson School of Law has
initiated a DVD delivered quality multipoint video conferencing system that transforming a mere
webcam and headset into a $30,000 collaborative interaction equipment.
Thomas Jefferson’s Best of Class Solution
Summit is the best-of-class, proprietary learning system for efficiently acquiring, recalling, and
cognitively processing information in order to establish a subject area expertise. “Efficiently” in
this context is measured by both the time and effort employed to obtain this expertise.
Summit is partly rooted in the work of the Swiss scientist Jean Piaget and his theory of cognitive
development. Piaget introduced the concept of schemata, or learning frameworks as they are
more modernly called. Learning frameworks provide the anchor points upon which detailed
knowledge can be organized and retained.
The power of learning frameworks in the development of expertise was first demonstrated in work
by de Groot with chess grandmasters. De Groot found that a major difference between
grandmasters and non-grandmasters was in the ability of the grandmasters to recognize patterns.
Grandmasters had acquired a repertoire of learning frameworks in chess that were available to
them in active memory. Modern day thinking holds that the difference between experts and
novices in any field can be found in the expert’s ability to recognize patterns in the areas of
expertise.
Summit integrates the schematic approach with a proprietary memory system Cumulative
MemorizationTM
. Cumulative MemorizationTM
integrates a number of key memory components to
allow learners to put into active memory huge amounts of information, easily retrievable, and
thereby increase the scope of working memory. These memory components include (1) memory
organization, (2) chunking, (3) deep processing, (4) use of cues, and most importantly, (5)
automation of the skills of the actual task, whether it be essay writing, oral presentation, or
multiple choice testing.
2007 arising out of S.L.P. (C) No. 16163 of 2006, M/s Morgan Stanley & Co. Inc. vs. Director of
Income Tax, Mumbai. See Jefferson VanderWolk’s interesting commentary at 47 TNI AUGUST
13, 2007, P. 631. Email me for copies of the decision and lecture notes thereto.
11. Prof. William H. Byrnes, IV Page 11 of 12
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Moreover, Summit integrates Cumulative MemorizationTM
with a proprietary motivational system in
which learners are taught to set a series of intermediate short-term goals that lead to longer-term
goals. By setting specific concrete and attainable goals, students are able to achieve their
maximum capacity for learning.
Finally, Summit transfers a process for extracting the structure of the law – Mapping the Closed
UniverseTM
. As learners master the concepts and add ever increasing detail, their multiple-choice
test-taking skills improve dramatically. To further this mastery, Summit employs a set of skill-
building techniques to automate the sub-processes that go into successful multiple choice
performance.
About our online and residential LL.M. and Masters programs
We pioneered 11 years ago online interactive classes and best-in-industry Certification.
Our students normally have some experience which enhances our distinguished team of alumni
from banks, governments, multinational companies, and firms. Current students include
International Trade Counsel -Tyco; Head of Compliance (North America) - HSBC; Chair of
Faculty - Rochester Institute of Technology; Compliance – Citigroup; Revenue Authority, Nigeria;
the IRS; Partner, Duane Morris (Vietnam); Boeing, and so on. Half of our students are not US
persons - thus providing a global, professional perspective in each course.
Because we developed as a contemporary program to serve the executives of the global
industry from 1996, instead of a residential program trying to deliver itself to young students right
out of college, our team is a collaborative network of faculty and alumni that reside globally
(Asia, Africa, Europe, North & South America, the Caribbean), connect via our social /
professional networks, who approach learning from the working realities of our professional lives,
from client presentation deadlines to family vacation commitments.
We have the largest online library of tax/financial service databases of any academic
institution globally, and uniquely offer our students the opportunity to sit in on lectures of other
courses not enrolled in. We guarantee not to over-fill a course with more than 15 students that
everyone has an opportunity for engagement with the instructors and each other – and we
maintain a low tuition of under $25,000 because of our alumni support and our professional
education programming.
Our new $100+ million dollar tech smart building http://www.tjsl.edu/files/news/Spring-2008-
Declaration-Magazine.pdf allows us to transform education. Maybe this is why Matthew Bender
has three international tax loose-leaf series based from our program, Wolters Kluwer another
one, Oxford/IBLS asked us to write a majority of its new Ecommerce treatise and is pursuing us
for yet another, and Edward Elgar sent us a proposal to write for it a manuscript on offshore
centers.
On a final note - our program graduates may continue to obtain the Ph.D. in law (J.S.D.), also via
online but for the graduation ceremony wherein we encourage all to attend in San Diego for three
days of festivities.
We hope you can take advantage of our impressive career services while increasing your future
opportunities – such as the recruitment lectures.
Search us out on www.YouTube.com via “profbyrnes”
PS: We have two residential LL.M. programs – one for foreign law graduates seeking to learn
and experience U.S. law, the other in International Investment and Trade law.
12. Prof. William H. Byrnes, IV Page 12 of 12
Walter H. & Dorothy B. Diamond International Tax & Financial Services Program
2121 San Diego Ave. San Diego, California 92110
T +1 (619) 297-9700 F +1 (619) 374-6957
I: http://www.llmprogram.org
American Bar Association accredited institution
member of the American Association of Law Schools
contemporary and collaborative learning models
meeting today’s employment requirements
residential and/or online
- www.tjsl.edu