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3. International Investment and Trade in Services Survey Act. The Bureau of Economic
Analysis (“BEA”) of the U.S. Department of Commerce requires reporting of all U.S.
business enterprises in which a foreign person owns, directly or indirectly, 10% or
more of the voting securities of an incorporated U.S. business enterprise. The data
that companies report is confidential.
4. Hart-Scott-Rodino Act (“HSR”). Under HSR, the Federal Trade Commission
(“FTC”) and Department of Justice (“DOJ”) may review the potential effects on the
competition of certain mergers, acquisitions or other consolidations before such
transactions are completed. Parties to acquisitions of such transactions meeting
certain thresholds should submit premerger notification forms to FTC and DOJ and
observe a statutory waiting period (usually 30 days) before closing.
The U.S. and particularly California is a very attractive market for business and foreign
investment, and Israel and the U.S. have had a very close relationship and history of
very profitable business together. The U.S. and California continue to be leading and
growing markets for Israeli companies to do business and present a great opportunity
for Israeli companies to grow and be successful globally.
In California, absent an agreement to be employed for a fixed period of time, the
relationship is for an indefinite term and deemed “at will” (i.e. either party may
terminate the employment relationship at any time). Independent contractors
must be truly independent and not be closely directed by the principal.