Thanks to globalisation, the assimilation of legal principles across jurisdictions is not uncommon. Assimilation is not a novel concept, as laws, being statutory responses to states’ socio-economic needs, cannot be perceived in isolation given international trends drifting towards globalisation.
Assimilation comes with specific advantages for emerging economies, as their commercial legal systems are relatively nascent and, consequently, flexible enough to mould themselves towards garnering investments. Assimilation can also be instrumental in securing protections and facilitating the interests of emerging economies if tailored appropriately. However, the limited shreds of assimilation traceable in corporate legal systems are unstructured, unregulated and fragmented. If harnessed productively, assimilation has the potential to sprout synergic waves of constructive outcomes, creating relatively friction-free exchanges among jurisdictions involved in cross-border mergers and acquisitions (M&A) transactions.
Please click here to read the full article by Gaurav G Arora and Aditi Richa Tiwary, published in International Bar Association.