Majlis Issue 11 Seite 20

Hinweis: Dies ist eine maschinenlesbare No-Flash Ansicht.
Klicken Sie hier um zur Online-Version zu gelangen.

Inhalt

G erman statutes and German Law are best practices For example the Japanese Civil Law is very closely based on the German Civil Code BGB Legal systems in China and the emerging markets in the Far East are also inspired by German Law Common legal traditions connect Germany with many Latin American countries as well Access for German companies to familiar structures abroad constitutes a significant advantage in the wake of international competition German companies wish to benefit from legal certainty and might even be able to save on legal advisory fees In the competition for the most attractive legal system Germany is aware of strong opponents especially the Anglo American Law which has a factual competitive edge due to a worldwide common tradition the English language and last but not the least the aggressive marketing by American law firms Yet German Law is in many ways superior to Anglo American Law Most importantly it is more systematic and therefore more predictable Unlike the Anglo American Law which is regularly based on precedents German contracts must only contain those provisions that differ from codified Law Contracts are therefore typically shorter and save significant time and legal expenses for the parties In addition the German liability law offers a particularly important legal certainty By way of example German Law does not recognize punitive damages which in other legal systems can be awarded in addition to compensation for damages In the United States punitive damages are common cause for disproportionate damage sums It is therefore not surprising that the majority of internationally oriented German companies are more frequently keen to base contracts on German law as a recent company survey conducted by the DIHK has shown German companies would expect to benefit from this in today s competitive environment by way of simpler and more comprehensive drafting of legal contracts Legal enforcement should be facilitated and companies should be able to reduce legal expenses For the benefit of German corporations the Association of German Chambers of Commerce and Industry DIHK jointly with the leading German legal associations promotes the advantages of German Law in the global competition of legal systems With the initiative Law Made in Germany cf www lawmadeingermany de DIHK as the umbrella organization of the German Chambers of Commerce and Industry the IHKs highlights the well functioning German legal system as an important structural benefit for Germany German law guarantees a high degree of entrepreneurial freedom ensures a high degree of legal certainty and typically achieves a fair balance between conflicting interests Additionally the German legal system works very efficiently and in international comparison very swiftly and at a low cost In Germany the parties have a true choice between the judicial resolution of conflicts and alternative dispute resolutions Therefore one focus of the initiative Law Made in Germany is arbitration mediation and other instruments of out of court dispute settlement These topics are becoming madE in GErmany a PlEa for thE GErman laW Germany s reputation worldwide rests not only on its high quality products but also on the efficiency of its legal system corporations and investors benefit from this alike a solid public administration and efficient codes of procedure provide fast competent and pre dictable decisions which can be legally enforced FOCUS 18 ISSUE 11 MAJLIs