International law firm survey shows caution in real estate deals
Real estate executives are beginning to appear more cautious about the state of the market. DLA Piper’s latest market survey shows that 62 per cent of respondents remain bullish about the sector in the next 12 months but in 2014 the figure was 89 per cent.
The growing caution is largely attributed to the volatile stock markets but also due to a feeling that prices may be at or near their peak.
The US is seen as a safe haven for non-US investors. Chinese investors and those from the Persian Gulf are expected to be especially active in the next year followed by Canadians.
Non-gateway cities in the US are expected to see greater foreign investment with Austin, Seattle and Miami set to perform best.
Japan considers compensation for lawyers’ embezzlement
The Japan Federation of Bar Associations is considering creating a system to compensate the victims of lawyers’ embezzlement following a series of cases.
The proposed scheme would pay between 3 million and 10 million yen to those whose funds are stolen; this would be funded by bar association membership fees.
The Japan Times reports that there were 37 cases in 2015 where legal professionals misappropriated funds totalling 110 million yen.
The use of membership fees may prove controversial though as a recent survey of the JFBA’s members questioned using their fees to correct the wrongdoing of rogue lawyers.
Apple loses fight to keep `IPhone' label off Chinese wallets
Apple Inc. lost its fight to keep the “iPhone” name exclusive to its products with a Beijing court deciding a little-known accessories maker can use the label for a range of wallets and purses.
The ruling affirmed that Xintong Tiandi Technology (Beijing) Ltd. has the right to use the name on a swath of luxury leathergoods, state publication Legal Daily reported. While Apple retains the trademark for mobile devices, it defeats the company’s efforts to gain full ownership of the moniker in the world’s largest mobile market and is the second time it has lost exclusive use in China of a brand name it coined.
The decision is unlikely to hurt the U.S. company, which faced a similar issue over the iPad trademark. In 2012, Apple paid $60 million to Proview International Holdings Ltd. to settle a dispute over the right to the iPad name in China.