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AUDIT

BLOCKING A FAMILY MEMBER´S INVOLVEMENT IN A BUSINESS

Audit
By Sergio Guerrero Rosas, Guerrero y Santana, S.C. In developed economies, just as in emerging markets, most companies are born as family businesses. However companies or businesses in which a family owns a majority stake often face an unpleasant reality. In fact, the probability that they will prosper in the long term is low, given that, according to statistical data, only 5% continue to generate value for the shareholders after the third generation. One of the risks faced…
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AUDIT REPORTING IN MEXICO: AN INTRODUCTION

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As of 2012, Mexican auditing and financial reporting are performed to the International Standards on Auditing and the International Financial Reporting Standard. Listed Mexican companies, government-owned companies, finance companies, and companies of other kinds that meet defined thresholds of size, must all have independent auditors who present their ‘tax compliance audit report’ at the annual shareholders’ meeting, to the Mexican tax authority, and, in the case of listed companies, to the National Banking and Securities Commission (CNBV). These…
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GS INTELLECTUAL PROPERTY FAQ´S

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Are you obliged by law to register a trademark? Registration of your trademark is not compulsory, but it is highly recommended as it grants exclusivity within the classes of your registration and the right to pursue claims against third parties. What rights do you have if you don’t register your trademark? You may still use your trademark in Mexico without registering it there, but at any time a third-party registration may result in a dispute, costly litigation, and…
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KEY STATE PLANNING ISSUES FOR FOREIGN RESIDENTS IN MEXICO

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By Sergio Guerrero Rosas, Guerrero y Santana, S.C. The issue of estate planning should be of importance to anyone who owns anything from a home to a car, from savings accounts to a nice electric guitar. As a result, we should all be aware of the processes involved in the preparation of wills and trusts, and be concerned not to die intestate (if at all), that is to say, without having given direction for the distribution of property…
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