Category Archives: Corporate & Investments

Micro, Small and Medium Enterprise Development (MSMED) Council

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The Micro, Small and Medium Enterprise Development (MSMED) Council is tasked to effectively spur the growth and development of MSMEs throughout the country, and to carry out the policy declared in Republic Act No. 6977, as amended (also known as the “Magna Carta for Micro, Small and Medium Enterprises (MSMEs)“. The Council is attached to the Department of Trade and Industry (DTI).

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No One can be Imprisoned for Non-Payment of Debt

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Perhaps you’ve heard someone making threats to file criminal cases against debtors who fail to pay. On the other hand, perhaps you’ve heard about the rule that no one can be imprisoned simply because of a debt in the Philippines. The prohibition against imprisonment for a debt is a basic right enshrined in no less than the Philippine Constitution. Article III of the Constitution reads:

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Holiday Economics in the Philippines

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We celebrate holidays to commemorate an event or a person of special significance to the country. While the declaration of holidays is supposed to bring unity, it sometimes results to confusion in the workplace, even if unintended.

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Dam Operator liable for Negligence in Flooding

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The recent flooding recently caused by the heavy rainfall brought by Typhoons Ondoy and Pepeng has caused tremendous damage to life and property. Also recently, there are threats to sue the dam operators who were allegedly negligent in releasing water too late and without sufficient warning. Continue reading →

Liability of a Co-Maker: Distinguished from Guarantor

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Maybe you have been asked by a friend to sign as a co-maker in a loan transaction. You’re then asked to sign a promissory note or a debt instrument which designates you as a co-maker. There should be no problem with this, as the principal is usually someone the co-maker knows and trusts. However, there are plenty of examples when co-makers are declared liable because the principal debtor was not able to pay. This is a brief discussion on the extent of a co-maker’s liability.

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Ownership of Philippine Land by Foreigners

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Aliens, as a general rule, are not allowed to own real property in the Philippines. By “aliens”, we don’t mean creatures from outer space, but persons who are citizens of other countries. By “general rule”, we mean that there are certain exceptions, and two of such exceptions are discussed below.

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How to Register a Corporation with the Securities and Exchange Commission (SEC)

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Many business people or entrepreneurs are not deterred by the current economic malaise that is affecting many countries. Many are still starting businesses and creating new corporations. So, for the brave few, here’s a guide on registering a corporation with the Securities and Exchange Commission (SEC). [Note, 2019: For the updated requirements and procedure, see How to Register a Corporation in the Philippines.]

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