Prospects of Law in Business
Prospects of Law in Business
Author(s): Tamara Benáková, Martin Boháček, Daniel Krtička, Paweł Mazur, Anastasiia Paliienko, Martin Winkler, Katarína Brocková, Stelios Andreadakis, Dimitrios Kafteranis, Lucie Andreisová, Nicole Grmelová, Annija Kārkliņa, Reinis Ivanovs, Tomáš Moravec, Andrej Oriňak, Milan Vrba, Daniel Zigo
Contributor(s): Nicole Grmelová (Editor), Anna Kretková (Editor)
Subject(s): Law, Constitution, Jurisprudence, Law and Transitional Justice, Law on Economics, EU-Legislation, Commercial Law, Court case, Comparative Law
Published by: ADJURIS – International Academic Publisher
Keywords: business law; corporate law; European law; international law;
Summary/Abstract: These conference proceedings constitute a selection of the best papers submitted to the 16th International Scientific Conference “Law in Business of Selected Member States of the European Union” which was organized by the Department of Business and European Law, Faculty of International Relations, Prague University of Economics and Business, Czech Republic. The conference was held in the University ́s premises on 17 October 2025 and welcomed speakers and participants from abroad (Latvia, Lithuania, the Netherlands, Poland, Bulgaria, Hungary, the United Kingdom, Germany, Slovakia) and the Czech Republic. The conference was held in a hybrid format. Although the on-site participation was encouraged, the conference was streamed online for those who could not join the conference venue in person and to reach a wider audience. The selection of the papers for the conference volume was very rigorous with an acceptance rate of 36 per cent. The papers were submitted and presented in English. All the papers included in this volume passed a rigorous double-blind peer review successfully and were checked for their originality using the iThenticate software kindly provided by the University. The participants ́ papers were presented in two specialized sections which correspond to the subheadings of the present volume: Section 1: European and International Aspects of Doing Business; and Section 2: Business and Corporate Law. The conference has been supported by the Internal Grant Agency Project No. IG 37/2025 “Law in Business of Selected Member States of the European Union (16th biannual conference)” of the Prague University of Economics and Business. All published papers successfully passed the double-blind peer-review process by two independent reviewers – experts with a Ph.D. in the relevant field. For more information on the call for papers for the upcoming conference please check the conference webpage at https://lawinbusiness.vse.cz/.
- E-ISBN-13: 978-630-6743-04-9
- Page Count: 173
- Publication Year: 2025
- Language: English
European Investor-State Dispute Settlement in the Post-Achmea Era
European Investor-State Dispute Settlement in the Post-Achmea Era
(European Investor-State Dispute Settlement in the Post-Achmea Era)
- Author(s):Tamara Benáková
- Language:English
- Subject(s):International Law, Law on Economics, EU-Legislation, Commercial Law, Court case
- Page Range:10-20
- No. of Pages:11
- Keywords:Achmea decision; intra-EU BITs; investment law; investor-state dispute settlement; ISDS reform;
- Summary/Abstract:The Court of Justice of the European Union (“Court”) issued a landmark decision dated 6 March 2018 in a matter between the Slovak Republic and a Dutch company Achmea B.V. (Case C-284/16), in which it ruled that arbitration agreements concluded in bilateral investment treaties between two EU member states are incompatible with the EU law. In doing so, the Court set afoot a chain of intra-EU Bilateral Investment Treaty (BIT) denunciations, leaving investors from EU countries without the possibility to settle their disputes with EU host states through a well-established dispute settlement mechanism. The present paper explores potential ways of dispute settlement between investors and states from the EU following the Achmea decision.
Protection of Designations of Origin and Geographical Indications of Craft and Industrial Products in the EU and the Czech Republic in the New Legal Guise - Success or Further Question Marks?
Protection of Designations of Origin and Geographical Indications of Craft and Industrial Products in the EU and the Czech Republic in the New Legal Guise - Success or Further Question Marks?
(Protection of Designations of Origin and Geographical Indications of Craft and Industrial Products in the EU and the Czech Republic in the New Legal Guise - Success or Further Question Marks?)
- Author(s):Martin Boháček
- Language:English
- Subject(s):Law and Transitional Justice, Law on Economics, EU-Legislation, Commercial Law
- Page Range:21-38
- No. of Pages:18
- Keywords:agricultural products; craft and industrial products; Geneva Act to the Lisbon Agreement; protected designation of origin; protected geographic indication;
- Summary/Abstract:The protection of geographical indications and designations of origin is of great importance for the preservation of traditional products in the regions, as well as the expectations for consumers. Also, it can be the next instrument under the EU Green Deal program. Protection of designation of origin has already been introduced in some countries (including the Czech Republic) in form of national registration and international registration under the Lisbon Agreement. The registration for geographical indications was introduced in the European Economic Community (EEC) by a Council Regulation in 1992, but initially only for agricultural products registered by the Commission. After an Amendment to the Lisbon Agreement, the so-called The Geneva Act 2015, theEU adopted a regulation of the European Parliament and Council (EU) in 2023 on the protection of geographical indications of craft and industrial products with a similarly complicated process of change from national registrations to only EU registration. While the finally resulting convergence of the protection of designation of the two product types at EU level is a success, it raises a number of questions, which the paper will discuss. Why has the EU protected only the appellations of agricultural products and for a long time not the non-agricultural ones? Why is there currently only a convergence, but not a unification of the two types of products? Why will the registration authorities for the two acts be different? Will the interpretative principles developed with respect to agricultural products also be applicable to the non-agricultural ones?
The Directing of Commercial Activities to the Member State of the Consumer’s Domicile Pursuant to Article 17(1)(C) of the Brussels I Bis Regulation
The Directing of Commercial Activities to the Member State of the Consumer’s Domicile Pursuant to Article 17(1)(C) of the Brussels I Bis Regulation
(The Directing of Commercial Activities to the Member State of the Consumer’s Domicile Pursuant to Article 17(1)(C) of the Brussels I Bis Regulation)
- Author(s):Daniel Krtička
- Language:English
- Subject(s):Law, Constitution, Jurisprudence, Law on Economics, EU-Legislation, Commercial Law
- Page Range:39-53
- No. of Pages:15
- Keywords:accommodation contract; consumer protection; directing the trader's activities;
- Summary/Abstract:The paper deals with the interpretation of the condition of "directing the activities" under Article 17(1) (c) of the Brussels I bis Regulation, the fulfillment of which will probably be the most common reason for the applicability of the consumer provisions of Section IV of that Regulation in practice. The article presents the relevant case law of the Court of Justice of the European Union, supplemented by expert opinions on the issue. It also includes an application case, which explores the research question of whether accommodation contracts concluded with Czech consumers through the platform operated by Booking.com can be considered contracts concluded under Article 17(1)(c) of the aforementioned Regulation. The analysis presents two possible solutions to the outlined question. In addition to the analytical method, synthesis and comparison are also used.
Equal Treatment of Shareholders Following the Audiolux Case
Equal Treatment of Shareholders Following the Audiolux Case
(Equal Treatment of Shareholders Following the Audiolux Case)
- Author(s):Paweł Mazur
- Language:English
- Subject(s):Law on Economics, EU-Legislation, Commercial Law, Court case
- Page Range:54-64
- No. of Pages:11
- Keywords:corporate law; equality; equal treatment of shareholders; EU law; fairness; fair treatment; good faith; principles of law;
- Summary/Abstract:This paper analyses the development of equal treatment of shareholders in EU law and argues that the Audiolux case does not end the discussion weather equal treatment of shareholders is a general principle of corporate law. EU secondary law and national statutes regulate aspects of equal treatment of shareholders. However, it is not always required to treat shareholders in the same way. They may be treated unequally, if necessary, as long as such treatment is proportionate, and justified by legitimate corporate purposes. In addition, decisions formally applied to all shareholders may be inadmissible if they unfairly discriminate while preserving the appearance of equality. Corporate law thus emphasizes fair treatment over strict equality, a position also supported by economic reasoning.
Regulatory Challenges in Cross-Border Gas Trading Between the EU and Ukraine: Reporting Burden and Compliance Risks
Regulatory Challenges in Cross-Border Gas Trading Between the EU and Ukraine: Reporting Burden and Compliance Risks
(Regulatory Challenges in Cross-Border Gas Trading Between the EU and Ukraine: Reporting Burden and Compliance Risks)
- Author(s):Anastasiia Paliienko
- Language:English
- Subject(s):Law on Economics, EU-Legislation, Commercial Law
- Page Range:65-77
- No. of Pages:13
- Keywords:ACER; compliance burden; cross-border gas trading; Energy Community; European Union; NEURC; REMIT Ukraine;
- Summary/Abstract:Cross-border natural gas trading between the EU and Ukraine is shaped by differing regulatory regimes, particularly regarding the Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) reporting obligations. While the EU operates under a comprehensive framework of transaction reporting, transparency and enforcement under the supervision of the Agency for the Cooperation of Energy Regulators (ACER) and national regulators, Ukraine is still in the process of implementing comparable rules through gradual alignment with the Energy Community acquis. Applying comparative analysis of EU and Ukrainian frameworks, drawing on regulatory documents and policy reports, the paper shows how this asymmetry is recognised as a source of compliance risks for market participants, including duplicative requirements and legal uncertainty in cross-border transactions. The paper analyses how these challenges are reflected in practice, considers the perspectives of regulatory authorities at both EU and Ukrainian level, and discusses future steps that have been promised or recommended in the context of market integration, highlighting their relevance for easing reporting burdens, strengthening regulatory cooperation and ensuring that cross-border gas trade remains efficient and attractive for market participants.
Does the Free Movement of Services in the EU Apply to One-off Services Provided Without a Business License?
Does the Free Movement of Services in the EU Apply to One-off Services Provided Without a Business License?
(Does the Free Movement of Services in the EU Apply to One-off Services Provided Without a Business License?)
- Author(s):Martin Winkler, Katarína Brocková
- Language:English
- Subject(s):Law and Transitional Justice, Law on Economics, EU-Legislation, Commercial Law
- Page Range:78-92
- No. of Pages:15
- Keywords:Directive on services in the internal market; free movement of services; Treaty on the Functioning of the EU (TFEU);
- Summary/Abstract:In the European Union, the Treaty on the Functioning of the EU (TFEU) prohibits restrictions on the freedom to provide services in the EU in relation to nationals of Member States who are established in a Member State other than that of the recipient of the services. Services are considered to be activities provided by entrepreneurs for remuneration, unless they are covered by the provisions on the free movement of goods, capital, and persons. At the same time, the Directive of the European Parliament and of the Council of 12 December 2006 on services in the internal market applies. This Directive lays down general provisions facilitating the exercise of the freedom of establishment for service providers and the free movement of services, while maintaining a high level of quality of services. However, does the free movement of services also apply to one-off services (activities) provided by an entrepreneur from one Member State outside the scope of their business license in another Member State? If so, can the host Member State impose any restrictions on them? The purpose of this paper is to answer the above question.
Commodifying Disclosure? The Debate on Financial Incentives for Whistleblowers
Commodifying Disclosure? The Debate on Financial Incentives for Whistleblowers
(Commodifying Disclosure? The Debate on Financial Incentives for Whistleblowers)
- Author(s):Stelios Andreadakis, Dimitrios Kafteranis
- Language:English
- Subject(s):Criminal Law, Law and Transitional Justice, Comparative Law, Administrative Law
- Page Range:94-102
- No. of Pages:9
- Keywords:financial rewards; incentives; speak up; whistleblower protection; whistleblowing;
- Summary/Abstract:This paper examines the ongoing debate over whether whistleblowers should receive financial rewards, with a focus on the financial sector. It compares the U.S.model, where schemes, such as the Dodd-Frank Act, have created strong incentives yielding significant enforcement results, with the European Union’s preference for protection without remuneration, as reflected in the Whistleblowing Directive. The analysis highlights the effectiveness of rewards in generating high-quality disclosures while acknowledging concerns over motivation, compliance culture, and risks of opportunism. It argues that Europe’s cultural, legal, and institutional context precludes direct transplantation of the U.S. system but suggests that hybrid or pilot reward schemes could provide a pragmatic middle ground. The paper concludes that a balanced model, which combines protection, recognition, and, where appropriate, modest compensation, could offer the most viable path to strengthening accountability and integrity in whistleblower regimes.
Creating a Culture of Integrity and Compliance: The Power of Ethics Programs in a Modern Workplace
Creating a Culture of Integrity and Compliance: The Power of Ethics Programs in a Modern Workplace
(Creating a Culture of Integrity and Compliance: The Power of Ethics Programs in a Modern Workplace)
- Author(s):Lucie Andreisová, Nicole Grmelová
- Language:English
- Subject(s):Law, Constitution, Jurisprudence, Law and Transitional Justice, Law on Economics, Labour and Social Security Law
- Page Range:103-114
- No. of Pages:12
- Keywords:business ethics; compliance ethics at work; comprehensive ethics programs; corporate responsibility; organizational behaviour;
- Summary/Abstract:This paper investigates the correlation between comprehensive ethics programs and ethical behaviour in the workplace. Drawing on data from the Institute of Business Ethics’ (IBE) "Ethics at Work 2024" survey, which assessed over 12,000 employees across 16 countries, alongside findings from other notable workplace ethics surveys, this paper explores the impact of structured ethics and compliance frameworks on honesty, reporting of misconduct, management support, and corporate social responsibility. The paper sets out to establish the effectiveness of comprehensive ethics programs in fostering an ethical and compliant workplace culture, meeting workforce expectations, and supporting adherence to regulatory standards. Findings underscore the importance of integrating compliance within ethics programs, offering practical recommendations for building ethical resilience through compliance alignment.
Liquidated Damages as a Legal Remedy for Merchants in Latvia
Liquidated Damages as a Legal Remedy for Merchants in Latvia
(Liquidated Damages as a Legal Remedy for Merchants in Latvia)
- Author(s):Annija Kārkliņa, Reinis Ivanovs
- Language:English
- Subject(s):Law, Constitution, Jurisprudence, Law on Economics, Commercial Law, Court case
- Page Range:115-124
- No. of Pages:10
- Keywords:contractual penalty; legal relations of merchants; liquidated damages; penalty clauses;
- Summary/Abstract:Liquidated damages are a widely used legal remedy in several countries. Liquidated damages represent a legal institution that is praised for its practicality, certainty, and economic logic. In practice, this legal institution has also been applied in Latvia. In 2023, the Supreme Court of the Republic of Latvia adopted the most significant judgment in relation to liquidated damages. In this judgment, the court ruled on the prohibition of liquidated damages in Latvia. This judgment has raised a variety of opinions in Latvian legal science as to whether in Latvia there should be an absolute prohibition on liquidated damages. Considering the above, the authors analyse the legal concept of liquidated damages in Latvia and its compatibility with other Latvian civil law concepts. The paper evaluates the reasoning of the Supreme Court of the Republic of Latvia regarding this legal institution and offers the authors' assessment of liquidated damages in Latvia, comparing the practice of Latvia and other countries regarding this legal institution. Lastly, the paper concludes with an assessment of the possible admissibility of liquidated damages in commercial legal relations.
Applicable Law for Liability Claims in Insolvency Proceedings: Directors’ Duties of Care and Pre-Insolvency Obligations
Applicable Law for Liability Claims in Insolvency Proceedings: Directors’ Duties of Care and Pre-Insolvency Obligations
(Applicable Law for Liability Claims in Insolvency Proceedings: Directors’ Duties of Care and Pre-Insolvency Obligations)
- Author(s):Tomáš Moravec
- Language:English
- Subject(s):Law, Constitution, Jurisprudence, Law on Economics, EU-Legislation, Commercial Law, Court case
- Page Range:125-133
- No. of Pages:9
- Keywords:applicable law; directors’ liability; duty of care; insolvency law;
- Summary/Abstract:This paper examines the determination of applicable law for liability claims in pre-insolvency proceedings. It analyses the boundary between the company law statute (lex societatis) and the insolvency statute (lex concursus), with particular emphasis on directors’ liability for breach of the duty of care and on pre-insolvency obligations. Building on the case law of the Court of Justice of the European Union, the paper highlights the material approach to conflict-of-law qualification. Further attention is devoted to the duty to file for insolvency, the shift of loyalty from shareholders to creditors, and the risks of forum shopping. A solution may lie in the minimal harmonization of selected rules at the EU level, or alternatively through clearer guidance in national conflict-of-law norms.
Legal Accountability and Liability for AI Decisions in Business
Legal Accountability and Liability for AI Decisions in Business
(Legal Accountability and Liability for AI Decisions in Business)
- Author(s):Andrej Oriňak
- Language:English
- Subject(s):Law, Constitution, Jurisprudence, Law and Transitional Justice, Information Architecture, Law on Economics, Commercial Law
- Page Range:134-146
- No. of Pages:13
- Keywords:artificial intelligence; legal accountability; liability; negligence;
- Summary/Abstract:In recent years, we have seen AI technologies become an integral part of business processes, fundamentally changing the way companies achieve efficiency and innovation. AI implementation in business operations creates complex legal and ethical challenges because of its fast integration into organizational processes. AI systems generate multiple legal issues because their autonomous nature and unpredictable behaviour and self-learning abilities create various problems. The identification of AI error responsibility among developers, operators, users and organizations creates complex problems regarding liability and causation particularly when algorithms show bias and stakeholders demand answers. The current legal system requires modifications to negligence and strict liability and vicarious liability frameworks because researchers propose risk-based approaches for AI regulation. The ability to track AI system operations becomes essential for determining liability because it helps identify responsible parties in cases of system failure. The development of new legal frameworks should focus on filling accountability gaps which stem from self-contained liability provisions. The European Union has started working on AI Liability Directive and Product Liability Directive to resolve questions, but multiple essential issues persist regarding these measures. The evaluation of these matters becomes increasingly challenging when studying them within healthcare and financial services and additional high-risk sectors. The development of complete flexible legal frameworks must occur to enable proper AI deployment while supporting its adoption.
Dishonesty in Discharge of Debts: A Law and Economics Perspective on Czech Insolvency Law
Dishonesty in Discharge of Debts: A Law and Economics Perspective on Czech Insolvency Law
(Dishonesty in Discharge of Debts: A Law and Economics Perspective on Czech Insolvency Law)
- Author(s):Milan Vrba
- Language:English
- Subject(s):Law, Constitution, Jurisprudence, Law and Transitional Justice, Law on Economics, Commercial Law
- Page Range:147-161
- No. of Pages:15
- Keywords:Discharge of Debts; Dishonest Intent; Economic Analysis of Law; Insolvency Proceedings; Personal Bankruptcy; State-Preference Model;
- Summary/Abstract:Honesty is deemed a central principle of the procedure leading to discharge of debts. A debtor seeking debt relief is obliged to maximise satisfaction for creditors while refraining from any actions that could harm or favour any of them. In accordance with Becker’s classical theory of crime, the paper assumes that the debtor’s decision to act (dis)honestly is a matter of rational choice. The debtor chooses between the certainty of honest performance of duties and the risky alternative of dishonesty. The aim of the paper is to provide an analytical framework for understanding this decision-making process and to identify how legal and institutional factors can influence it. To illustrate this, the paper applies a basic state-preference model. The model demonstrates that the debtor’s ultimate decision is shaped by three key variables: (1) the potential gain from dishonesty, (2) the severity of sanctions, and (3) the likelihood of detection and punishment of dishonest conduct. Each of these variables is subsequently analysed in the context of Czech insolvency regulation, highlighting how the legal framework can influence the debtor’s incentives.
Identity Under Copyright: Legal Response to the Deepfake Era
Identity Under Copyright: Legal Response to the Deepfake Era
(Identity Under Copyright: Legal Response to the Deepfake Era)
- Author(s):Daniel Zigo
- Language:English
- Subject(s):Law, Constitution, Jurisprudence, Human Rights and Humanitarian Law, Law and Transitional Justice, Information Architecture, Law on Economics, EU-Legislation, Commercial Law
- Page Range:162-173
- No. of Pages:12
- Keywords:AI; copyright; deepfake; Denmark; DSA; personality protection;
- Summary/Abstract:The exponential growth of artificial intelligence has created new challenges for personal identity protection, particularly through deepfakes, AI-generated, hyper-realistic imitations of human likenesses and performances. This paper situates the problem within the evolving EU and global regulatory landscape, analysing key instruments such as the EU´s AI Act and Digital Services Act (DSA), alongside emerging national approaches. It then focuses on Denmark’s innovative legislative proposal amending its Copyright Act to protect both performing artists and individuals from unauthorized digital replicas. By introducing copyright-like rights over personal likeness, the Danish model offers a novel, though unconventional, mechanism that blurs the line between intellectual property and personality rights. The article critically evaluates this approach and considers its implications for future European harmonization and the balance between protection, expression, and enforcement.
- Price: 13.00 €
