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Things to Consider When Selling Your Small Business
Are you planning on selling your small business soon? It may be hard to sell it quickly if you have no experience in this field. There are many things to consider when doing so, as you’ll want to get fair compensation for what you’ll be trading away. This article will run you through some tips...
Everything you need to know about joint ventures today
A joint venture agreement is a contract between two or more parties who agree to work together to achieve a common goal. The agreement sets out the roles and responsibilities of each party and the terms and conditions under which the joint venture will operate. It is important to have a joint venture agreement in...
What is a patent, and can I get one?
What is a patent, and can I get one? We’ve all heard the expression “that’s a great idea, you should patent it”. But what does getting a patent entail? And are there things that cannot be patented? What is a patent? A patent is legal protection for any device, substance, method, or process that is...
Trademark registration – how to protect your brand
Protecting your brand with a trademark The best way to protect your brand is with a trademark registration. A trademark registration can cover your business name, logo, or even a slogan. With a registered trademark, you will have exclusive rights to those names and images, and the right to use them for the services your...
Why you need a cease-and-desist letter
If you think someone has stolen your work, is using a trademark or design too similar to yours, or is using your patent without consent, you need a cease-and-desist letter. What is a cease-and-desist letter? An intellectual property (IP) cease-and-desist letter is the first step in dealing with IP theft and is a formal demand...
Why you need a shareholder agreement
What is a shareholder’s agreement? A shareholder’s agreement is a contract between the shareholders of a company, which governs the relationship between each shareholder, and specifies who controls the company. Why you need one While it’s not a legal requirement, if your company has more than one shareholder, it’s advisable to have a shareholder’s agreement....
Think carefully before clicking ‘Publish’
When is a publisher not a publisher? According to the High Court, when it’s Google. In a landmark defamation case, the court has confirmed that publishing hyperlinks to defamatory material written by others does not count as publication – or republication. However, the court also warned against applying that as the general rule. Accordingly, it...
What is the franchise code of conduct?
What is Franchising? Franchising is a popular business model that allows you to operate a business under the brand of another business. Famous examples of a franchise in Australia include Pool Werx, Muffin Break, and Jim’s Mowing. A franchisee is a sole trader, partnership or company which enters into an agreement with the franchisor. The...
Planning your exit – What to know when selling your business
Selling your hard-earned business is a potential exit strategy once you’re ready to close your books to start a new chapter in your life. There are many reasons a business owner would want to let go of their company. To ensure a smooth-sailing transition of power and assets, you need to know which items will...
What is a “going concern”?
What does “selling a business as a going concern” mean? When you’re selling a business as a going concern, it means you are selling everything that’s necessary for the continued operation of that business. It also means that you will continue running the business until the day of the settlement. What property can be included?...
Licence v franchise – what’s the difference?
Understanding Business Structures in Australia Two of the most common types of businesses in Australia are licensed businesses and a franchised business. But what’s the difference? Both models are business agreements in which certain aspects of the brand are shared in exchange for a fee. However, a franchising agreement covers a business’s entire brand and operations,...
Understanding a deed of release contract
What is a deed of release? A deed of release is a legal document formed between two parties that brings a dispute or an agreement to an end, and can in fact can be used to prevent a dispute from arising in the future. Generally speaking, a ‘release’ is a discharge of obligations. There are...