Dobrev & Lyutskanov

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On 22 June 2020, Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (the Taxonomy Regulation) was published in the Official Journal of the European Union.

The advancement of technologies leads to increasing application of various algorithms that can develop on the basis of machine learning. Therefore, an issue of special importance is the approach to the regulation of artificial intelligence and its application in various spheres of economic and administrative activities.

One of the main goals of the European Union is to expand digitalization as a means to promoting a dynamic economy and efficient governance while also attaining the environmental targets of the Member States.

The general partnership is an arrangement among natural and/or legal persons to pursue a common business objective. When traders take part in the arrangement, the group is called a consortium and it is subject to the provisions of Article 357 et seq. of the Obligations and Contracts Act concerning general partnerships or the relevant company, depending on its legal form.

The successful transformation of the economy of the European Union towards a sustainable future, which underlies the European Green Deal, builds on a number of pillars and has an impact on practically all spheres of the EU economy and policies. From the supply of clean, affordable and secure energy to the acceleration of the transition to sustainable and smart mobility, the European Commission envisions various strategies to pursue the sustainable development pathway. An important role in this process is entrusted to public authorities, including the institutions of the European Union, and green public procurement is considered as part of the toolkit planned to promote this transformation.

In Bulgaria, like in other countries, convertible loan becomes an increasingly common instrument to have start-ups financed by an investor who is a party external to the company.

It is common practice for company managers to be required, either with the contract for management and representation, or with later declarations or agreements, to undertake the obligation not to exercise competitive activity after they no longer occupy their position. Similar obligations and prohibitions may also be directed at the company partners or at the members of the board of directors or the management board. It is usual for a penalty to be provided for non-compliance with the ban on competition exercised by a former partner.