EXP Legal
Tuesday, 23 April 2024 19:06
Comparing Real Estate systems in Italy and the United States
The real estate market in both Italy and the United States operates within very different legal and procedural frameworks, significantly impacting real estate investment strategies.
A major difference is the role of the notary in Italy, compared to the function of the title company in the USA.
In Italy, the notary is a key figure in the property transfer process. Acting as a public official, the notary ensures the safety and legality of the entire operation. They check the regularity of documents and transactions, ensure no pre-existing liens or mortgages, and draft and officially record the deed of sale. This approach provides a high level of legal security but also involves higher costs and longer processing times.
In the United States, the real estate purchase process is facilitated by the title company, which performs multiple functions. These include ensuring that the property title is free from pre-existing legal or financial issues, managing negotiations, and closing the transaction.
During the closing, the title company coordinates the transfer of money and signing of documents, also offering a title insurance policy to protect the buyer from future disputes.
Contractually, the systems further diverge. In the USA, the process is often more direct and less formal, with standard contracts that can be tailored to the specific needs of the parties involved. In Italy, however, each transaction requires the direct involvement of a notary, ensuring that every legal aspect is meticulously adhered to according to Italian regulations, making the process more formal and rigidly structured.
These differences also extend to taxation and transaction costs. Buyers in Italy face notarial fees, registration taxes, and other duties that can significantly impact the overall cost of the investment. In the USA, although there are costs for title insurance and other closing-related fees, often tax incentives through property tax deductions are found.
Moreover, the types of properties available differ between the two countries. In the USA, the market offers a wider variety of property options, such as single-family homes, condominiums, cooperatives, and real estate trusts, each with specific legal and tax implications. In Italy, the market is less segmented, with a predominance of traditional properties and more uniform regulations.
These differences necessitate careful evaluation by investors wishing to operate across these two markets, emphasizing the importance of a deep understanding of local dynamics and regulations to maximize the success of real estate investments.
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For a deeper understanding of the differences and nuances between the Italian and American real estate systems, we invite you to watch our video interview with Beatrice Bianchi Fasani, a partner at the Miami office of EXP Legal.
During the interview, Beatrice Bianchi Fasani provides detailed insights into the challenges and opportunities in the U.S. real estate market, with a special focus on Miami, one of the most dynamic cities in terms of real estate investments. Watch the full interview at the following link.
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Thursday, 18 April 2024 09:49
EXP Legal joins the Italcam Sao Paulo to strengthen its Brazil Desk
EXP Legal proudly announces its membership in the Italo-Brazilian Chamber of Commerce, Industry, and Agriculture of Sao Paulo.
This strategic move further strengthens the Studio's Brazil Desk, established in 2023, run by Claudio Scaramella and dedicated to providing legal services and expanding business opportunities between Italy and Brazil.
The partnership with the Italo-Brazilian Chamber of Commerce enables EXP Legal to integrate into a broad professional and institutional network. Through this alliance, EXP Legal will offer unparalleled support to Italian and Brazilian companies in internationalization, covering critical aspects such as market entry, fiscal and tax management, legal entity creation, contract negotiation, intellectual property protection, and more.
Claudio Scaramella, EXP Legal's representative at the Chamber stated: “I am deeply honored to represent EXP Legal in our new partnership with the Italcam of Sao Paulo. This alliance represents not just an extraordinary opportunity to expand our reach and efficiency in connecting Italian and Brazilian businesses, but also a testament to the trust and recognition of our work. Our mission is to assist companies in their internationalization journey, providing precise legal advice and tailored strategies to successfully navigate the complexities of both markets. We look forward to the future with excitement, committed to building ever-stronger bridges between the two business worlds and supporting the development of prosperous and lasting commercial relationships”.
The Italo-Brazilian Chamber of Commerce of Sao Paulo, with its long history of fostering commercial relations between the two countries and its extensive network in Sao Paulo, Mato Grosso, Mato Grosso do Sul, Rondônia, and Acre, represents an ideal partner for businesses interested in expanding their horizons in Brazil.
This collaboration marks a significant chapter in EXP Legal commitment to supporting businesses on their internationalization journey.
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Thursday, 04 April 2024 10:35
Antonello Corrado is new member of IACCSE board
EXP Legal is proud to announce that Antonello Corrado, Managing Partner of the Firm, has been appointed as a Member of the Board of Directors of the Italy-America Chamber of Commerce Southeast.
The Italy-America Chamber of Commerce Southeast (IACCSE) is a non-profit, U.S. corporation officially recognized by the Italian government which is devoted to fostering trade between the United States and Italy. The Chamber has grown substantially since its inception in 1991, a direct reflection of the rapidly expanding and increasingly prominent Italian business community in the Southeastern United States. Florida, in particular, represents the driving force of the regional economy due to its extraordinary geopolitical location, cosmopolitan and innovative environment, and role as a major international trade hub.
Mr. Corrado's deep understanding of the intricacies of international trade, combined with his extensive network within the Italian business community, positions him uniquely to catalyze innovative collaborations between Italian entrepreneurs and the Italy-America Chamber of Commerce Southeast.
Throughout his career, Antonello Corrado has earned accolades for his role on the Board of Directors and the Board of Statutory Auditors for commercial companies, non-profit organizations, and multinational cultural associations. His appointment to the Italy-America Chamber of Commerce Southeast is a testament to his contributions to the Italian legal and business community in USA, and Florida in particular.
This circumstance aligns perfectly with EXP Legal's strategic expansion, marked by the opening of its new office in Miami in January 2024, symbolizing its commitment to bridging Italian and American business communities and fostering international collaboration.
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Thursday, 07 March 2024 10:45
The Modernization of Cosmetics Regulation Act: A New Era of Safety and Compliance
Introduction
In today's world, where the average American uses between six to twelve cosmetic products daily - from makeup and perfumes to skincare and haircare products - the safety of these items is more crucial than ever.
Recognizing this, the MoCRA - Modernization of Cosmetics Regulation Act of 2022 (entered into force last December 29, 2023) marks a monumental step forward, representing the most significant expansion of the Food and Drug Administration's (FDA) authority over cosmetics since the Federal Food, Drug, and Cosmetic (FD&C) Act of 1938.
MoCRA's introduction is a response to growing concerns over the safety of cosmetic products that are an integral part of daily life for millions. It establishes a new framework aimed at ensuring the well-being of consumers through enhanced regulatory measures, mandatory reporting, and adherence to Good Manufacturing Practices (GMP).
Key Provisions and What They Mean for Consumers and Industry
Enhanced FDA Authority: under MoCRA, the FDA gains new powers, including access to records related to a cosmetic product's safety and the authority to mandate recalls if a product is found to be adulterated or misbranded, posing serious health risks.
Mandatory Adverse Event Reporting: manufacturers, packers, or distributors - termed as "responsible persons" - are now required to report serious adverse events to the FDA within 15 business days. This includes providing product labels and any new medical information about the event within a year of the initial report. This measure aims to ensure swift action to prevent harmful products from affecting more consumers.
Facility Registration and Product Listing: facilities that manufacture or process cosmetics for distribution in the U.S. must register with the FDA and renew every two years. Responsible persons are also required to list each marketed cosmetic product, including ingredients, ensuring the FDA has a comprehensive database to monitor and regulate the market effectively.
Safety Substantiation: companies must demonstrate the safety of their products, maintaining records that support their safety claims. While specific tests are not mandated, the data used must be derived from scientifically robust methods, ensuring consumer safety is not compromised.
Good Manufacturing Practice (GMP) Requirements: MoCRA will see the introduction of GMP requirements for cosmetic product facilities, a move aimed at standardizing the quality and safety of cosmetic products. This aligns with practices across other sectors regulated by the FDA, ensuring that cosmetics are produced under conditions that prevent contamination and ensure consistency.
Exemptions for Small Businesses: recognizing the potential burden on small businesses, MoCRA includes exemptions from GMP, registration, and product listing requirements for certain small business operations. However, this exemption does not apply to products with higher risk profiles, such as those intended for internal use or that come into contact with the eye's mucus membranes.
Implications and Moving Forward
The enactment of MoCRA is a significant milestone in consumer protection and industry regulation.
For consumers, it brings the assurance that the cosmetic products they use daily are subjected to stringent safety standards and monitoring. For the industry, while it introduces new compliance requirements, it also offers a framework for ensuring product safety and quality, potentially increasing consumer trust and market stability.
Companies in the cosmetic industry must now adapt to these new regulations, ensuring their products meet the FDA's safety and reporting standards.
As these changes take effect, our law firm is here to help businesses navigate the complexities of compliance, ensuring they meet their obligations under MoCRA while continuing to innovate and serve consumers safely.
In conclusion, MoCRA represents a significant step forward in the regulation of cosmetic products, offering enhanced protection for consumers and a clear framework for industry compliance. As we move into this new era of cosmetic regulation, the emphasis on safety, transparency, and responsibility has never been more important.
For more information on MoCRA compliance and how it may affect your business, feel free to contact our legal team specialized in FDA regulatory affairs.
Friday, 16 February 2024 09:11
EXP Legal and Polimeni & Bianchi Fasani forge new Italy-U.S. alliance for global legal services
PRESS RELEASE
Rome/Miami - February 15, 2024
EXP Legal and Polimeni & Bianchi Fasani forge new Italy-U.S. alliance for global legal services
EXP Legal Law Firm and US attorneys Alberto Polimeni and Beatrice Bianchi Fasani are proud to announce their strategic alliance and, effective January 2024, the establishment of “EXP Legal with Polimeni & Bianchi Fasani, PLLC”, with offices in Rome, Milan and Miami.
This partnership creates a multi-practice firm with both Italian and American professionals, building upon Polimeni, Bianchi Fasani and EXP Legal's extensive experience in the Italian and American markets, particularly in Florida.
In announcing the strategic alliance, Antonello Corrado, Managing Partner of EXP Legal, emphasized the significance of this partnership in the context of the firm's international expansion: "This alliance represents a significant step in our commitment to providing comprehensive and tailored legal services to Italian businesses aiming for expansion in the United States and vice versa. We are excited to join forces with a team of high-caliber professionals like Alberto Polimeni and Beatrice Bianchi Fasani to deliver top-notch legal solutions that ensure the success and prosperity of our clients in such a dynamic and competitive market as Florida and the United States at large".
Alberto Polimeni and Beatrice Bianchi Fasani will lead EXP Legal Miami office and join the firm as partners, enhancing the Departments of Corporate and Business Law, Taxation and Tax Planning, Immigration Law, and Litigation & Arbitration.
According to Alberto Polimeni: "The vision of the new team should be focused on establishing a center of legal excellence where Italian and American legal expertise converge, offering unparalleled support for international ventures and ensuring our clients' success in the global market". Beatrice Bianchi Fasani on the new firm’s mission stated: “In leading EXP Legal's Miami office, our goal is to establish a global legal hub, serving as a pivotal resource for American enterprises eyeing opportunities in Italy and Europe, and for Italian businesses seeking to expand into the USA”.
This strategic alliance underscore EXP Legal's commitment to providing comprehensive support to Italian companies and business entities, looking to expand into the United States, as well as American companies seeking opportunities in EU.
With a special focus on cross-border corporate operations, the firm is now poised to offer in the two jurisdictions a full range of legal services, including M&A, corporate law, contract law, international trade law, real estate, tax planning and compliance, litigation & arbitration, estate and asset protection planning, paymaster services, and immigration law.
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Tuesday, 13 February 2024 15:42
Meet U.S. Roadshow | March 18-21, 2024
4 workshops to bring Italian businesses closer to the US market
The Meet U.S. Roadshow will take place from March 18 to 21, 2024, in the cities of Naples, Rome, Prato, and Treviso. The Roadshow, organized by the Italy-America Chamber of Commerce Southeast in collaboration with EXP Legal, aims to present SMEs with opportunities in one of the most dynamic regions of the United States, the Southeast, which includes states such as Florida, Georgia, South Carolina, and North Carolina.
The event, free of charge and in Italian, will feature both Italian and American professionals, experts in internationalization, and entrepreneurs with in-depth knowledge of the US market. They will discuss and share insights on the most important strategic and operational aspects of expanding into a market of great importance for Italian exports like the USA.
Stefano Rossi and Alberto Polimeni, partners at EXP Legal, will participate in the roadshow with a presentation titled: "Setting up the expansion process in the US market: from searching for funding sources to establishing a US legal entity".
At the end of each conference, there will be a networking cocktail to facilitate meetings between attendees and speakers.
To learn more about the details of the workshops, their respective programmes, and registration procedures, meet us.
In case of registration issues, please contact: This email address is being protected from spambots. You need JavaScript enabled to view it.
Wednesday, 06 December 2023 11:38
Stefano Rossi new Partner of the Firm
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Monday, 04 December 2023 16:34
ILN 10th Ed. of "Establishing a Business Entity: An International Guide"
EXP Legal is a member of the International Lawyers Network, which facilitates personal relationships among lawyers in mid-sized law firms all over the world, allowing us to confidently operate in a global marketplace while retaining our independence and local expertise.
ILN is in the top 2% of law firm networks globally and have more than 90 high-quality, full-service, and specialized law firms with over 5,000 lawyers in 67 countries on 6 continents.
We've developed strong relationships with other corporate colleagues all over the world, which help keep us on the cutting edge of worldwide trends and issues in corporate law and allows EXP Legal to confidently cover client's needs wherever they may have them.
The ILN has announced the tenth edition of their corporate guide, "Establishing a Business Entity: An International Guide," which we thought you would find valuable.
The collaborative electronic guide provides a summary of key corporate law principles in 44 jurisdictions internationally. It is designed to serve as a quick and practical reference for those with corporate needs in these jurisdictions.
Some of the key jurisdictions highlighted in the guide, which you may find of value, include Italy and EXP Legal has contributed to the development of the Italian jurisdiction section of the guide.
To view the guide, please click here: https://bit.ly/ILNCorporate10th
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Wednesday, 15 November 2023 10:04
ILN 8th Ed. of "Buying & Selling Real Estate: An Int'l Guide"
We are thrilled to announce that the International Lawyers Network’s (ILN) Real Estate Specialty Group has recently released the eighth edition of its esteemed publication, “Buying & Selling Real Estate: An International Guide”.
This collaborative electronic guide has been expanded to cover 31 countries, including new additions such as Hungary, Spain, and Turkey, making it an invaluable resource for anyone involved in real estate transactions in these diverse global locations.
One of the key jurisdictions highlighted in the guide is Italy to which our Senior Partner Giorgio Cherubini and Partner Giuseppina De Stefano contributed as authors.
Lindsay Griffiths, Executive Director of ILN and the guide’s facilitator, states, “Real estate remains a focal point for numerous jurisdictions, and as the real estate landscape evolves, it’s essential to stay up-to-date. Our latest guide not only provides the most current figures and regulations but also incorporates three new jurisdictions: Hungary, Spain, and Turkey. We are delighted to offer this robust resource to those buying and selling real estate in these regions”.
The eighth edition of “Buying & Selling Real Estate: An International Guide” is designed to serve as a practical reference for individuals and professionals involved in real estate transactions worldwide. The guide offers a concise summary of key real estate law principles, delivering insights and legal frameworks crucial for successful real estate transactions in a diverse array of jurisdictions.
To access the latest edition of the guide, please click here.
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About the ILN Real Estate Specialty Group
Co-chaired by Amy Fracassini of Davis, Malm & D’Agostine in Boston, Massachusetts, and Hernán Cordero of Cordero & Cordero Abogados in Costa Rica, the Real Estate Group fosters relationships among practitioners in this field to support the making and receiving of referrals.
About the ILN
The ILN is a non-exclusive network of high-quality mid-sized law firms, which operates to create a global platform for the provision of legal services, particularly for clients with international needs. With a presence in 67 countries, it is exceptionally well placed to offer seamless legal services, often of a cross-border nature, from like-minded and quality legal practices.
In 2021, the ILN was honored as Global Law Firm Network of the Year by The Lawyer European Awards, and in 2016, 2017, 2022, and 2023, they were shortlisted as Global Law Firm Network of the Year. Since 2011, the Network has been listed as a Chambers & Partners Leading Law Firm Network, increasing this ranking in 2021 to be included in the top two percent of law firm networks globally. Today, the ILN remains at the forefront of legal networks in terms of reach, capability, and depth of expertise.
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Wednesday, 08 November 2023 09:42
The Importance of IP Protection in Internationalization Strategies
In the globalized economy, business internationalization is a key strategic tool for accessing new markets, enhancing competitiveness, and fostering innovation. Within this framework, the protection of intellectual and industrial property (IP) is a critical aspect to ensure sustainable success for business expansion across national borders.
Intellectual and industrial property includes patents, trademarks, designs, copyrights, and trade secrets.
Investing in their protection ensures the safeguarding of the results of creativity and investment, guaranteeing that innovations and creativity are exploited exclusively by the company that generated them. This not only provides a competitive edge but also shields the company from potential counterfeit or imitation that could harm reputation and sales.
When dealing with international importers and distributors, the risk of inadequately negotiating IP-related clauses is substantial.
These partners may not share the same commitment to IP protection or could, in some cases, leverage the company's know-how to their advantage without proper authorization. This translates into a potential loss of control over how products are marketed, which can lead to brand value dilution or, worse, direct infringement of intellectual property rights.
To safeguard at the contractual level, companies can implement several strategies to mitigate the risks of intellectual property infringement.
For instance, including confidentiality and non-disclosure clauses in agreements requires partners to keep business information and data secret. Additionally, usage licenses clearly outline how and where the intellectual properties, such as patents and trademarks, can be used, and for how long.
Moreover, contractual agreements might feature penalty clauses for non-compliance, acting as a deterrent against potential misuse. It is also crucial to incorporate clauses that allow for periodic audits of distributors and importers to ensure they adhere to the contract terms.
In conclusion, for businesses venturing into international markets, it is imperative to integrate IP protection into their expansion strategy. This involves conducting in-depth analyses of the legal requirements in different countries, registering rights in relevant jurisdictions, and negotiating contracts that reflect adequate protection and respect for intellectual property.
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