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The information on Groklaw is not intended to constitute legal advice. While Mark is a lawyer and he has asked other lawyers and law students to contribute articles, all of these articles are offered to help educate, not to provide specific legal advice. They are not your lawyers.

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Remember Google
Authored by: Tolerance on Thursday, November 01 2012 @ 05:40 PM EDT
Google put under pressure by the Chinese government to
comply with local law simply removed itself from that
market. It's been exploring ways of returning ever since,
but hasn't regretted the decision.

Were Apple to be faced with ongoing sanctions of the kind
you suggest, I can easily see Apple trying that too.

What would be the impact of Apple leaving the UK and
possibly European market altogether?

On the officers, nothing. They are not answerable to a
majority of the shareholders, because they control a
majority of the shares.

And watch what happens in Congress after the UK tries to
force a CEO's presence before a British court.

They are not answerable to the banks, because the banks
haven't lent large sums to Apple; in fact, Apple has
occasionally lent large sums to banks. Here is the bottom
line:

Revenue US$ 156.508 billion (2012)
Operating income US$ 55.763 billion (2012)
Net income US$ 41.733 billion (2012)
Total assets US$ 176.064 billion (2012)
Total equity US$ 118.210 billion (2012)

Look at the "Total Equity" figure. Apple has essentially no
debt, and huge income. They can very easily tell hold a UK
and even European court in contempt with effective impunity.
Whether they actually do or not depends on what shreds of
respect they still have for a certain conception of the law.


---
Grumpy old man

[ Reply to This | Parent | # ]

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