Starting your own business is a challenging task and it is often difficult to know where to start. It is essential to seek advice from legal experts who will be able to guide you through the many processes and considerations that are involved when starting up a business.
Business Structure Advice
There are a variety of business structures in Australia which you may select for your business. The business structure that you select will determine how your business is recognised under the law. The business structure that you ultimately choose for your business will also impact factors such as how much tax you will need to pay and what obligations your business owes under the law.
There are four main business structure options available, these are:
- Sole Trader
Our lawyers have extensive experience in advising start-ups on which business structure is the most appropriate for their interests and vision. Upon selecting your business structure, our lawyers are able to further assist you with drafting the legal documentation as required by regulations and legislation.
Protection of your intellectual property rights
As with most businesses, your most valuable asset will be your intellectual property, so it is important to ensure that it is protected from the early stages of your start-up. Our lawyers will be able to assist in any intellectual property matters that will need to be conducted during the process of your start-up, including registration of trademarks and patents.
We understand that protecting your intellectual property is important and will endeavour to ensure that all legal documentation in relation to your start-up adequately protects your rights.
Compliance with changes in the law and regulations
All businesses in Australia must comply with the laws and regulations under the Corporations Act and the Australian Consumer Law. Depending on the type of business that you are setting up, there may also be industry-specific regulations that your business will need to comply with. It is therefore important to ensure that your legal documents comply with these laws and regulations from the beginning and are updated when changes occur.
We understand at GLG Legal that it is an onerous task for business owners to stay updated with the various changes in these laws and regulations which is why our lawyers ensure that all documents are drafted in compliance with the appropriate laws and regulations to protect your business from risks.
How GLG can help
Starting up a new business goes far beyond what has been discussed so far in this article. There are several considerations involved in each and every step of the process. It cannot be understated how important it is to seek legal advice when starting up a business – particularly if it is your first time. Our lawyers at GLG Legal are experienced in advising start-ups on their options, obligations, and requirements under the legislation and regulations.
Contact us today for assistance if you are interested in obtaining advice or assistance on any of the following:
- Business structure and restructuring
- Starting up a business
- Partnership agreements; shareholder agreements; unitholder agreements
- Investment agreements; funding agreements; loan agreements
- Business name registrations; ABN, TFN, ACN
- Trademark, patent copyright protection
- Employment agreements for new businesses
- Lease and sub-lease reviews