[Excerpt] Baker & McKenzie is one of the world’s largest law firms with its presence in 70 locations in 42 countries. We have been active in the Czech Republic since 1993 and our work includes a full range of legal and tax services directed primarily to foreign investors doing business in the Czech Republic, but also, increasingly, to large, domestic Czech companies, especially as they seek to expand into new markets. Over the past 10 years, the Czech Republic has adopted new laws in virtually every area of regulation in the Czech legal system consistent with European standards as it prepared for accession to the European Union. The Czech Republic formally joined the European Union on May 1, 2004 and its legal system continues to develop in line with European norms. Doing Business in the Czech Republic has been prepared by the Prague office of Baker & McKenzie as a general guide for those companies or persons who wish to engage in business activities or invest in the Czech Republic. The information contained in this publication is general in nature and is intended only to provide an introduction to the Czech legal system and investment climate. This publication may not be relied upon in relation to any transaction or investment decision and it should not be viewed as a substitute for specific legal and tax advice. In addition, readers should be aware that the law and its interpretation are constantly changing in the Czech Republic; as such, the information contained in this publication may quickly become outdated.