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Dentons Budapest Newsletter: licensing, deposit, distribution, licence (franchise) and security contracts in the new Civil Code

On 15 March 2014, the new Civil Code entered into force as the most important legislation governing the financial and personal relations of companies and persons. The new code has an increased commercial emphasis incorporating the results of legal developments of the past decades by adapting to the economic needs of our times. The new code takes into account the rules crystallised in the Hungarian trade of property and has regard to European legislation as well. The new act came with several new and completely or substantially reformed legal institutions. The changes concern the activity of enterprises widely, thus familiarisation and appropriate preparation by business participants is fundamental. With our newsletters, we would like to provide support for your preparation.

In this newsletter we outline certain rules of the new Civil Code, i.e. Act V of 2013 regarding the rules on licensing, deposit, distribution, license (franchise) and security contracts that are new or different from the rules of the old Civil Code, i.e. Act IV of 1959…

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