The Critical Global Expansion Checklist – Part #2
In part #2 of this podcast series, we discuss: Preparing for Commercial Compliance – including IP Protection and Trademarking, Data Privacy, and Information Law to help you do business securely and compliantly from country to country. In Part #1 of this podcast series, we discussed Corporate Setup, Governance, and Taxes so you’ll want to check that podcast out too.
Our guest expert is Linda Lim, Senior Director of Client Services at Safeguard Global, the world’s leading provider of global HR, Payroll, Accounting, Finance and Compliance services. Ms. Lim manages all financial operations, analysis, reporting, and accounting for Safeguard Global – and has over 20 years of experience in international finance and operations. Ms. Lim started her career with KMPG Singapore and subsequently worked in senior Finance management roles in China, Hong Kong, the UK, and the USA.
1. Preparing for Commercial Compliance
- IP Protection of your product, services, brand
- What type of training should the new employees undergo in the new entities/ countries on your policies regarding security, trade secrets, compliance, trademarking etc.?
- Start the trademark protection process years in advance of going into foreign markets
- What are the local anti-bribery rules?
- How should the company ensure compliance with the U.S. FCPA and any such local rules?
2. Data Privacy and Information Law
Things that are important to prepare for include:
- Are there any data privacy registration requirements?
- Will the data flow trigger any data transfer obligations?
- Are there any customer/employee notification requirements?
- Are there any requirements regarding contracting with third party service providers?
- Are there any requirements due to any monitoring (CCTV, computer, etc.)?
- Are there any privacy policy (internal/ external) requirements?
- Are there any requirements due to payment obligations?
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