Publications

Georgia has introduced a regulatory framework for virtual assets and related services to bring legal clarity to the digital asset industry. The framework is primarily based on amendments to two key laws: These legal updates establish clear definitions, responsibilities, and compliance standards for entities operating in the virtual asset sector. Before the Amendments were adopted, […]

While the Labour Code of Georgia (the Labour Code) is primarily designed to protect employees’ rights, it also ensures fair working conditions. Additionally, it acknowledges the legitimate interests of employers in maintaining competitiveness and safeguarding sensitive business information. In this context, the Labour Code permits the inclusion of non-compete clauses and other restrictive covenants in

Smart contracts have evolved as a game-changing option for safe and automated transactions in the dynamic world of blockchain technology. These self-executing contracts that are stored on the blockchain offer increased efficiency, transparency, and mutual trust. But even in the world of smart contracts, disagreements can occur as with any contract. This is when a

Ensuring workplace safety is a fundamental aspect of employee-employer relationships. All employers must ensure that labor rights are protected within the workplace environment. The Labor Code of Georgia and the Law on Labor Safety respectively regulate the essential duties. Employers must acknowledge the importance of safety measures and protect employees from unsafe working conditions. They

The concept of microbanks was introduced in Georgia through the Law of Georgia on Microbanks (hereinafter the “Law”), establishing a new type of financial institution under the supervision of the National Bank of Georgia (NBG). Purpose and Objectives of the Law The primary objective of the Law is to promote the institutional development and strengthening

 What Businesses Need to Know Businesses handle large amounts of personal data daily, especially from their customers. This is equally true when processing data for direct marketing. Direct marketing allows businesses to create effective campaigns by offering personalized products, services, or offers to customers. However, this practice is strictly regulated, and businesses must comply with

With the rapid growth of the virtual asset industry, Virtual Asset Service Providers (VASPs) face increasing regulatory scrutiny worldwide. Georgia is no exception. Since September 2022, VASPs have been classified as accountable persons under the Law of Georgia on Facilitating the Prevention of Money Laundering and the Financing of Terrorism, thereby becoming subject to mandatory

In the realm of financial services, particularly in Georgia, the operation of payment services is under regulatory oversight. This framework aims to ensure transparency, security, and stability in the payment sector. At the center of this regulatory system are Payment System Providers (PSPs). They play a crucial role in facilitating various payment transactions. PSPs include

Under the current legal framework, European patents can be validated in Georgia based on the International Agreement on the Validation of European Patents (the “Validation Agreement”) between the Government of Georgia and the European Patent Office (EPO). This framework allows applicants to obtain patent protection in Georgia by requesting validation of their European patent applications.