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Just Sign Here… ‘Silent’ Directors Beware
If you have been asked to accept a position as a director of a company in which you have little or no involvement, think again. All too often spouses are appointed as a co-director of their partner’s company without understanding their full responsibilities as a director. This is commonly known as a ‘silent director’. While […]
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Managing Commercial Disputes – Key Steps and Processes
A commercial dispute occurs when two or more parties have a disagreement in relation to a business matter. While the subject of a commercial dispute varies, many arise due to a party’s alleged failure to perform contractual terms and conditions, which is why it is important to always seek legal advice before signing a business […]
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Succession Planning for Business Owners
As a business owner, you deal with many responsibilities, including having to decide what to do with your business when you move on. Sometimes the logical endgame for a business is to be wound up, but in most cases, the aim is a smooth transition to new ownership. This is particularly important if you plan […]
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Essential Considerations When Starting A Business
Starting a business can be exciting, but also overwhelming and challenging if you have not properly prepared for your new venture! This guide will take you through some essential considerations of starting a business. Business Plan Business plans are vital if you want your business journey to start on the right track! You don’t have […]
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Ready to Seal the Deal? A Breakdown of the Must-Know Terms and Tips for Heads of Agreement
A “Heads of Agreement” is one of those legal terms that you may come across for the first time and find yourself doing a quick Google search. To make things more confusing, the term is sometimes used interchangeably with terms such as “Letters of Intent” or “Memorandum of Understanding”. So, what do these terms actually […]
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Joint Venture or Partnership? Understanding the difference
A joint venture involves two or more persons or entities joining together for a particular project. A partnership is described as a relationship which exists between people carrying on a business, with a common view of making a profit. It also includes incorporated limited partnerships. Before entering into a joint venture or partnership arrangement, it is essential […]
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Important update for financially distressed businesses and their creditors – Statutory Demands
Important update for financially distressed businesses and their creditors – Statutory Demands At the outset of the pandemic in March 2020, the Australian Federal Government passed a Coronavirus Economic Response Package which included temporary measures to alleviate some of the financial hardship faced by many businesses and provide some safeguards to help them survive and […]
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Beware: Informal lease negotiations can create binding agreements
Beware: Informal lease negotiations can create binding agreements An email can be enough to lock you into an agreeement – even without a formal contract being signed. A lease is a legally binding contract that gives you certain rights to a property for a set term. A written commercial lease is used when leasing property […]
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The benefits of mediation in a commercial dispute
The benefits of mediation in a commercial dispute Lawyers are often stereotyped as being interested in prolonging an expensive Court action. More often the opposite is true. Lawyers know that Court cases are expensive and that clients are fearful that legal costs could escalate to an intolerable level. Lawyers interested in preserving long standing relationships […]
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Succession Planning: If you retire, become incapacitated or even die, who will carry on your business?
Many small business owners overlook the importance of succession planning, but it is vital if you want to preserve your hard work. Who will take over your business? Some of the more common scenarios that can arise when it comes to a business succession plan include: If you co-own your business, you may choose to […]
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