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The Limits of Due Diligence in Post-Communist Economies |
August 7, 2008
Previously published by LexisNexis® Martindale-Hubbell® Counsel to Counsel Forum on June 17, 2008 -- Chicago
Situation:
Your CEO came back from a vacation in Moscow eager to buy a
company there with "unbelievable talent" at less than half the usual cost.
It specializes in realistic video games and has developed a certifiable
worldwide hit that requires at least 100 players online to start
functioning. With appropriate marketing, your CEO thinks revenues can
be quintupled. She also thinks the company is wholly owned by its top
game designer. But shortly after due diligence gets underway, it becomes
clear that more than half the company is owned by three Cyprus trusts.
It also has a subsidiary in Shanghai that employs more than 200
programmers, and it isn't clear who owns 15 percent of that subsidiary,
or whether intellectual property theft is behind a competitor's eerily
similar game.
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The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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