Accounting and Valuation of Property
Company law in Lithuania falls within the responsibility of the Ministry of Economy. Since 1995, the registration of economic entities is carried out under the supervision of the Department of Statistics under the Government of the Republic of Lithuania, which runs the central database of the enterprise register. Registration of enterprises takes place in the relevant institutions on the level of local authorities (where the enterprise is established), in the Ministry of Economy (in the case of registration of the capital of foreign origin), and in the Bank of Lithuania (in the case of establishment of commercial banks). In 2000-2002 institutional reorganisation as regards the registration of economic entities is envisaged, and a special official gazette to ensure disclosure of data on enterprises will be set up.
Accounting and auditing law in Lithuania
Accounting and auditing law in Lithuania falls within responsibility of the Ministry of Finance. After the Law on Auditing came into force, some of the functions in the auditing field have been transferred to the Chamber of Auditors, a professional body, implementing independent activities of auditors. The functions of audit certification of auditors and of audit supervision, rests with the Lithuanian Institute of Audit, Accounting and Valuation of Property. After the Law on Accounting comes into force, the Board of Accounting will be established and it will be charged with the task of drafting national accounting standards.
Lithuania has an efficient system for the recognition and enforcement of the decisions of foreign courts, which is largely in line with the provisions of the Brussels and Lugano Conventions. The present Code of Civil Procedure provides for ‘open hearing’ of applications regarding enforcement of decisions of foreign courts and arbitrations before the Court of Appeals of the Republic of Lithuania. Rulings on recognition and enforcement of the decisions of foreign courts and arbitrations can be appealed before the Supreme Court of the Republic of Lithuania.
Functions delegated by the Government
Functions delegated by the Government within the field of protection of copyright and related rights, are carried out by the Ministry of Culture. In the field of collective administration of copyright, the Agency of Lithuanian Copyright Protection Association has been in place since 1990. Based on free membership of the authors, the Agency issues licences to the users of works, and collects and distributes remuneration for the use of their works. In 1999, the Agency of Related Rights Association was established. On 12 January 2000 the Lithuanian Copyright and Related Rights Board was established.
Property in Lithuania
The key institution responsible for the implementation of legislation governing protection of industrial property rights is the State Patent Bureau. After the Government approved the Regulations of Patent Agents in 1992, in the course of registration of industrial property in Lithuania, applicants can be represented by 48 patent agents of the Republic of Lithuania. The State Patent Bureau is an active participant of the PHARE RIPP programme.
State protection of plant varieties is carried out by the Ministry of Agriculture. New varieties are registered with the Lithuanian State Plant Varieties Research Centre which also issues variety protection documents, and performs plant variety evaluation tests and other functions.
Protection of copyright and industrial
Protection of copyright and industrial property rights is also taken care of by the Customs Department, which can stop goods crossing the state border when they bear a brand name which is considered by its proprietor as an infringement of his/her rights to the brand name registered in the Republic of Lithuania. Pirated goods upon their imports into the Republic of Lithuania are subjected to customs provisions laid down by law.
Furthermore, the strategy for the protection of intellectual property rights is drafted, and is expected to be adopted by the Government in 2000. This Strategy foresees relevant measures for the protection of intellectual property rights, mechanisms for their implementation, and additional administrative, technical and financial resources necessary for the protection of these rights. It will also define the co-ordination of functions between the implementation/enforcement authorities (the Police, the Prosecutor’s Office, Customs Department, Courts, Ministry of Culture, Ministry of Economy etc.).
After the aforementioned measures are in place, and before 2002, the legal framework of protection of copyright and related rights will be in full compliance with the EU requirements.