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Inside Internal Controls

News and discussion on implementing risk management

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Corporate Administration

Saskatchewan court upholds electronic waiver as enforceable

The decision in Quilichini v Wilson provides affirmation to business owners (especially those in the recreational industry) that a well–drafted electronic waiver and release that is properly presented in an understandable format will likely be held to be enforceable.

 

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What’s in a slogan? Federal Court issues interlocutory injunction in trademark infringement case

The Federal Court granted an interlocutory injunction restraining Sears from using the slogan “There is no reason to buy a mattress anywhere else”. Sleep Country owns two Canadian trademark registrations for the slogan “Why buy a mattress anywhere else?”. The slogan, and its accompanying musical jingle, have been used by Sleep Country in television, print, radio, and online advertising and promotional campaigns since 1994.

 

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Federal Budget 2017-18: Impact on businesses

federal budget 2017

On March 22, 2017, Canada’s Finance Minister Bill Morneau tabled the Liberal Government’s Federal Budget 2017, Building a Strong Middle Class, which includes various measures affecting businesses. The federal budget 2017 is modest and is focused on skills training, innovation and how Canada will promote sustainable growth. The government is forecasting a deficit of $28.5-billion, […]

 

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New guidance on operational risk

When an organization is focused on avoiding failure, it is very hard to be successful. Operational risk is basically about the things that can go wrong in day–to–day processes that can trip you up. It is impossible to eliminate such risk. The best you can hope for is to take a level of risk that is appropriate given the business and what it takes to be successful.

 

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Guidelines on the National Security Review of Investments

With the highly anticipated release of its Guidelines on the National Security Review of Investments, the Canadian government has finally shed some light on circumstances which may draw investors and parties involved in the investment into the realm of a national security review.

 

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Rectification requires prior agreement to succeed: Intention alone insufficient

In two recent decisions, the Supreme Court of Canada held (by a 7–2 majority) that rectification of a written instrument requires the existence of a prior agreement amongst the parties, with definite and ascertainable terms. Courts may rectify an instrument if it fails to accurately record the agreement and the rectification of the instrument would record the parties’ prior agreement.

 

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How much cyber risk should an organization take?

I did a video with Joe McCafferty of MISTI last month. I am interested in whether you share my views. I also have some questions for you—after you watch the video.

 

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Where does a cause of action for patent infringement arise?

In Apotex Inc. v Astrazeneca Canada Inc., 2017 FCA 9, the Court of Appeal had to interpret section 39 of the Federal Courts Act in order to determine the appropriate limitation period for those patents that issued before a six–year limitation period was established by section 55.01 of the Patent Act in 1993.

 

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Volunteer falls off ladder and sues church

If a volunteer falls off a ladder, and there is no one around to see how or why they fell, who is liable? The Court in the following matter addresses this.

 

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Government legal and fiscal measures designed to keep businesses in Quebec

On February 21, 2017, the Quebec government announced a plan to strengthen the Quebec economy as an executive-driven economy. The plan includes the enhancement of existing measures and the development of a number of new fiscal and legal measures designed to keep businesses in Quebec and facilitate the transfer of family businesses, therefore limiting the risk of their sale to foreign interests. The key measures include:

 

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Why do so many practitioners misunderstand risk?

My apologies in advance to all those who talk about third–party risk, IT risk, cyber risk, and so on. We don’t, or shouldn’t, address risk for its own sake. That’s what we are doing when we talk about these risk silos. We should address risk because of its potential effect on the achievement of enterprise objectives.

 

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New record-keeping requirements for Ontario corporations

While the new record-keeping requirements are relatively straightforward for corporations with just a few “ownership interests” in real property, corporations with significant interests, such as those involved in property development, face a much more onerous task. It is therefore recommended that Ontario corporations begin preparing the register as soon as possible to gather the required information and to establish a common practice.

 

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Copyright year in review 2016

This article highlights noteworthy Canadian copyright law decisions and developments from 2016.

 

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Trump at work, week one

The first week of Trump’s administration has revealed a highly activist White House, hewing with surprising fidelity to campaign promises. The pace of change is materially faster than anticipated and the implications may be felt sooner rather than later.

 

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