Contracts, Societies, and Cybersecurity: A Comprehensive Guide

Contracts

A contract is a legally binding promise (written or oral) by one party to fulfill an obligation to another party in return for consideration.

Elements of a Contract

• Offer and Acceptance
• Consideration
• Intention to be legally bound
• Legal capacity
• Formalities

Societies

Civil Society

• Contract between two or more persons
• Obligation to contribute money or goods
• Profits shared among members
• No minimum capital
• Losses and profits distributed
• Minimum of two partners

Anonymous Society

• Dedicated to the exploitation of an economic activity
• Capital divided into shares
• Minimum capital of 60k
• Own legal personality
• Losses in proportion to contribution
• Quarterly VAT

Limited Liability Company

• Capital divided into equal parts, not shares
• Minimum capital of 3.5k
• Partners exempt from liability
• Good option for medium-sized businesses

Labor Society

• Majority of capital held by workers
• Own legal personality
• Capital stock in shares
• Mandatory 10% reserve fund

Cybersecurity

ENISA

• European Union Agency for Cybersecurity
• Dedicated to achieving a high common level of cybersecurity across Europe
• Contributes to cyber policy
• Enhances trustworthiness
• Prepares technical ground
• Informs the public
• Issues certificates
• Cooperates with MS and EU bodies
• Helps Europe prepare for cyber challenges

Top 9 Threats

• Ransomware: Malware that encrypts files on a device, rendering them unusable. Malicious actors demand ransom for decryption.
• Malware: Program that controls something.
• Disinformation: False information that is spread, regardless of intent to mislead.

Harmonization Law

• Process by which states make changes in their national laws to comply with Community legislation
• Produces uniformity, particularly in commercial matters
• Creates consistency of laws, regulations, and practices
• Reduces burdens for businesses operating nationally

UNIDROIT

• International intergovernmental organization located in Rome
• Harmonizes international private law
• Studies necessities and methods to modernize and coordinate international law
• Creates international conventions, uniform rules, and establishes laws and principles

CNMC

• National Commission of Markets and Competition
• Promotes and ensures the proper operation of all markets
• Public body with its own legal personality
• Independent from the Government
• Subject to parliamentary oversight
• Went into operation on 7 October 2013

Arbitration

• Alternative dispute resolution
• Impartial arbitrator makes a final and binding decision
• Faster than court proceedings
• May be cheaper and more flexible
• Arbitral awards are generally non-public and can be made confidential