CORE meaning

This Checklist pinpoints the principal provisions commonly found in a trade mark coexistence agreement. It may serve as a prompt for matters to address when preparing, assessing, or negotiating these arrangements. It can be relied upon as a list of points to review at drafting stage, during review, and throughout negotiations and sign-off process. It may equally be tailored as heads of terms to capture core positions whilst a full trade mark coexistence agreement is finalised. For help on doing so, see Precedent: Heads of terms—commercial contracts. For a model coexistence agreement, see Precedent: Trade mark coexistence agreement. For further detail on factors to weigh when drafting a coexistence agreement, see Practice Notes: Trade mark coexistence agreements and Negotiation guide—trade mark coexistence agreement. Checklist Points to consider Further information Notes (if any) (A) Key commercial considerations ☐ Parties Verify which entities will sign the agreement—specify who owns the trade marks (and related rights) and who is exploiting them. Confirm each party’s legal form and...

Checklist This Checklist outlines the IP matters that commonly require attention when drafting share purchase agreements (SPAs). It also considers points to address when carrying out the related IP due diligence and structuring around such transactions. For information on the corporate elements of these deals, see: Share purchase agreement—overview. For guidance on key provisions and issues relating to IP in the context of a share purchase, see Practice Note: IP issues to consider in share purchase contracts. For information about IP due diligence, see: Precedent: IP due diligence questionnaire; and Checklist: Intellectual property due diligence in share purchase transactions—checklist This Checklist covers technology only to a limited degree. If IT represents a principal asset of the target company, more detailed warranties should be included in respect of, eg, IT systems and core software...

STOP PRESS The Loan Market Association (LMA) has released refreshed editions of the standard terms and conditions for Par and Distressed Trade Transactions, the complete set of Funded Participation and Risk Participation Agreements, and the Secondary Debt Trading Documentation User Guide, with effect from 17 March 2026. The changes remove LIBOR references, update IBOR rate definitions and the Target2 definition, and revise ERISA representations to incorporate additional exemptions to the prohibited transaction rules under ERISA and the US Internal Revenue Code. The revised documentation is available exclusively to LMA members, accessible via the LMA’s Documentation Hub. These publications are updated versions issued by the LMA. Summary A core principle of trading under the LMA protocol is that ‘Trade is a Trade’; i.e. once a trade is struck—including an oral contract agreed by telephone—it is binding, and subsequent developments, even if adverse to one or both parties, do not entitle either party to cancel or ‘break’ the trade. By way of example, a failure to secure consent for...

Stage 1—preparing to bring a claim and pre-action matters Guidance on infringement, defences, ownership, injunctions, running disputes, and the Business and Property Courts Disclosure Scheme; cease and desist precedent; timetable checklist; key forms; IP insurance. Stage 2—letter of claim alleging copyright infringement Guidance on infringement, drafting letters of claim, unjustified threats and remedies, with precedents for standard and peer‑to‑peer infringement letters. Stage 3—commencing proceedings Notes on infringement, secondary infringement, permitted acts, remedies, criminal offences, the Business and Property Courts and the Disclosure Scheme; pleadings/initial disclosure precedents; Disclosure/IPEC flow tools; CPR claim/defence/settlement/default forms. Stage 4—case management Guidance on running disputes, costs management and the Disclosure Scheme; checklist; Chancery, Patents Court and IPEC Guides; Mitchell v NGN; core case‑management and disclosure forms. Stage 5—disclosure and evidence Notes on e‑disclosure, witness statements and the Disclosure Scheme; PD 57AC for Business and Property Courts trial statements (not...

The Retained EU Law (Revocation and Reform) Act 2023 (REUL(RR)A 2023) confers a suite of legislative powers, allowing the relevant national authorities to reshape retained EU law (REUL) by making secondary legislation to amend, revoke, restate and/or replace REUL and assimilated law. Its principal powers are located in REUL(RR)A 2023, ss 11–16. The core procedural obligations (including parliamentary scrutiny routes) for these instruments appear in REUL(RR)A 2023, s 20 and Schs 4–5. REUL(RR)A 2023 sifting process—background Under REUL(RR)A 2023, before specified statutory instruments (referred to here as ‘REUL reform SIs’) are formally presented to Parliament, they must first undergo a preliminary sifting exercise to confirm the suitable parliamentary procedure. Details of the sifting mechanism are set out in REUL(RR)A 2023, Sch 5 Pt 2, para 6...

This flowchart shows how to handle a data protection incident (including a cyber security incident) in line with the UK General Data Protection Regulation (UK GDPR). It mirrors the UK GDPR’s rules on reporting and recording personal data breaches, alongside the Information Commissioner’s Office (ICO) guidance on breach management. It charts the end-to-end breach lifecycle, offering direction and links to the relevant precedents for each step of the process. See Precedents: Personal data breach plan, Data breach report form—internal and Data breach assessment and action plan, which steer you through every stage of this workflow. Note 1—assemble data breach team The initial action is to bring together your data breach team. Decide who in the organisation is best positioned to respond promptly to the incident and who should support the ensuing enquiry. This typically calls for contributions from specialists across the business, including IT, HR and compliance/legal, and may, in some instances, involve engagement with external stakeholders and suppliers. The Precedent: Personal data breach plan urges you to...

AMR represents a mounting global public health threat, with some analyses attributing up to five million deaths each year. It is therefore unequivocally a core ESG priority for life sciences. In a year poised to be pivotal for coordinated action—underscored by its profile at the UN High Level Meeting in September 2023—the government has set out firm pledges. It has released the Second 5 year AMR National Action Plan for 2024–2029 (the Action Plan) (see: LNB News 08/05/2024 25), designed to advance the UK’s 20 year vision to contain AMR by 2040 and acting as a key strand of the UK’s recently revised Biosecurity Strategy. The Action Plan frames commitments across four pillars: cutting the need for, and unintended exposure to, antimicrobials; optimising antimicrobial use; driving innovation, and ensuring supply and access; acting as a responsible global partner. We highlight below ESG developments pertinent to life sciences. Market failures The Action Plan prioritises boosting R&D and remedying entrenched market...

Overriding principles The DMCC’s core requirement is that a product’s “total price” must be shown prominently in every invitation to purchase (ITP). (For what constitutes an ITP, see here.) The total price covers all amounts the consumer will inevitably pay, which therefore includes any compulsory delivery charges. There is a limited DMCC exception. Where, owing to the nature of the product, a compulsory delivery charge cannot reasonably be worked out in advance, every ITP must explain how that charge will be calculated. This explanation must appear with the same prominence as the total price and must enable the consumer to determine the overall cost. Typically, equal prominence means placing this information beside or immediately below the total price. Before relying on this carve‑out, traders should be satisfied that the compulsory delivery charge genuinely cannot be calculated beforehand. The CMA has indicated that the exception will be applied narrowly...

Pagden (as liquidator of Core VCT IV Plc and Core VCT V plc) and others v Fry and other cases [2025] EWHC 2316 (Ch) What are the practical implications of this case? This decision clarifies that, although liquidators’ firms and their personnel may, in certain circumstances, invoke limitation clauses in relation to distinct contractual or tortious duties (always subject to the Unfair Contract Terms Act 1977 and fact-specific questions of vicarious liability), individual liquidators cannot restrict the statutory obligations that arise under a statutory trust. Sensible practice is for liquidators and their firms to revisit engagement letters to (a) set out, with precision, the separation between liquidators’ statutory functions and any contractual or advisory services; and (b) add explicit carve-outs confirming that limitation provisions have no application to the liquidators’ statutory duties. What was the background? The claimants are three companies that issued proceedings against their former liquidators and the firm of those former office-holders (the defendants). They contend the defendants breached fiduciary, tortious and contractual...

This Practice Note examines core aspects of the UK framework for money market funds (MMFs) that stems from Regulation (EU) 2017/1131 (the EU MMF Regulation). It also looks at suggested changes to the framework, with the Financial Conduct Authority (FCA), HM Treasury and the Bank of England (BoE) working jointly to bolster its resilience and align it with post‑Brexit regulatory objectives. For background on the EU MMF Regulation, see Practice Note: EU MMF Regulation—essentials. What is an MMF? Money market funds (MMFs) are investment funds that invest in short‑term debt instruments and so play a significant role in the short‑term financing of the economy. In particular, MMFs are open‑ended, liquid investment funds that invest in fixed income through short‑term debt, for example money market instruments issued by banks, governments or companies (including treasury bills, commercial paper and certificates of deposit) which pay interest. They therefore form an important connection between demand for, and the supply of, short‑term debt. Further information on the eligible assets of an MMF is...

This Practice Note offers a beginner’s overview of construction disputes, intended for trainee solicitors and others unfamiliar with the area. It outlines what a construction disputes lawyer does, the disputes that frequently occur on projects, and gives a primer on adjudication, dispute boards, proceedings in the Technology and Construction Court (TCC), construction arbitration and alternative dispute resolution (ADR). It also considers the nature of disputes that routinely emerge on construction projects and the role undertaken by the disputes lawyer. We suggest reading Practice Note: Construction law—new starter guide, which sets out the core principles of construction law and the characteristics of construction projects, before tackling this note. The content of this Practice Note is also available as a PowerPoint deck with speaker notes—see: Introduction to construction disputes—training materials. You might also consider Practice Note: Dispute Resolution—new starter guide, which addresses dispute resolution more broadly. The work of a construction disputes lawyer Construction lawyers handling disputes (often described as contentious or back-end practice) are typically asked to support clients...

This Practice Note sets out the essentials of Regulation (EU) 2024/2847, the EU Cyber Resilience Act (CRA): its background, timeline, aims, and how it aligns with other EU laws. For details on the CRA’s scope or core duties for economic operators, see the following Practice Notes: The EU Cyber Resilience Act—scope and classification of products The EU Cyber Resilience Act—obligations, compliance and enforcement Regulation (EU) 2024/2847, known as the CRA, is the first EU measure to set mandatory cybersecurity requirements for ‘products with digital elements’ across the EU. From December 2027, products that do not satisfy these requirements cannot be placed on the EU market. Accordingly, compliance will be crucial for market entry for both hardware and software. Manufacturers, importers and distributors will have extensive cybersecurity responsibilities and risk significant fines for non-compliance. The CRA was published in the Official Journal of the EU on 20 November 2024, entered into force on 10 December 2024, and applies in full from 11...

Legal professional privilege (LPP) is a core legal protection that permits [ insert organisation’s name ] to resist producing evidence to a third party or the court. It enables the organisation to seek expert legal guidance, setting out all pertinent facts to our legal advisers without concern that they will later be revealed and used against us. This short guide sets out what legal professional privilege (LPP) is and how we can best preserve it. 1 What is legal professional privilege? LPP is an umbrella term covering: legal advice privilege (LAP) litigation privilege LPP safeguards the confidentiality of written and verbal communications between lawyers and clients. It is a fundamental entitlement, allowing a party to withhold material from disclosure to any third party or a court. Legal advice privilege Legal advice privilege applies to all confidential communications between a client and their lawyer made for the purpose of giving or obtaining legal advice...

Question Identify the principal legislation set out here that introduced the corporate offence of failure to prevent the facilitation of tax evasion: (b) Criminal Finances Act 2017 Which of the following is not among the three core essential elements for the failure to prevent tax evasion facilitation offence?...

Stage Questions Case study Create a sense of urgency How will staff recognise there’s a need to change? How will its significance be made clear? How will both near-term and longer-term gains be demonstrated? Set out: how much prospective new work is currently slipping away the effect that is having now and is expected to have going forward how greater volumes will make life better for secretaries and fee earners the potential outcomes if no changes are pursued Form a powerful guiding coalition Who will take charge? Who will make an open pledge to see it through? Who will guarantee the necessary resources? Who will sit in the core team steering the change? Who will ensure they collaborate effectively as one team? Will the coalition operate well across every area of the firm? JB, a partner, will head the project...

Lease or licence? In Street v Mountford, the House of Lords set out the core indicators of a tenancy. These focus on the substance of the arrangement rather than the label attached to it: exclusive possession of specified premises Although the payment of rent may suggest a tenancy, it is not essential. Whether the proposed arrangement is a lease or a licence turns on the agreement taken as a whole; where the parties in reality confer exclusive possession, that result cannot be avoided by calling the document something else. What counts is the essence of the bargain, not its outward form or chosen description. Even where the paperwork is properly framed at the outset as a true licence, the parties’ subsequent behaviour may alter the character of the arrangement so that a tenancy is later created. For further discussion, see Practice Note: Leases and licences of land—key features and differences, together with the commentary in Hill and Redman’s Division A from paragraph...

The general rule relating to the burden of inheritance tax (IHT) Under section 41 of the Inheritance Tax Act 1984 (IHTA 1984), the core rule on who shoulders inheritance tax (IHT) provides that where some gifts are exempt but others are not, only those receiving the exempt gifts take them without any deduction for tax. See: Re Ratcliffe. A Will can, however, stipulate a different outcome, as demonstrated in Re Benham's Will Trusts...

Statutory holiday entitlement Under the Working Time Regulations 1998 (WTR 1998), SI 1998/1833, workers have a right to 5.6 weeks’ paid annual leave, comprising: a core statutory entitlement of four weeks’ annual leave each leave year, giving effect to Directive 2003/88/EC, the Working Time Directive (WTD) an extra entitlement of 1.6 weeks’ statutory annual leave each leave year Under WTR 1998, SI 1998/1833, reg 16, a week’s pay must be determined in line with sections 221, 222, 223 and 224 of the Employment Rights Act 1996 (ERA 1996), subject to the modifications set out in WTR 1998, SI 1998/1833, reg 16(3). For further information, see Practice Notes: Holiday and Holiday pay...