A shareholder agreement is a contract made between two or more shareholders. It outlines the relationship between a company’s directors and its shareholders. It can cover matters such as new shares and sales of existing shares, the directors’ duties, codes of conduct and perhaps, most importantly, dispute resolution. For new businesses and startups, it’s often continue reading
Times being what they are, some businesses and industries are faring better than others. That statement will hold in most instances but 2020 has been particularly ruthless for some. Furthermore, the oft media touted ‘road to recovery’ is likely to leave more businesses facing potential insolvency into 2021 and beyond. Insolvency, in a nutshell, is continue reading
As a business owner, there are countless worries that may keep you up at night. Some fears are ungrounded and are more like unsubstantiated worries. In a way, they can help to keep you alert of important issues. They are small worries, focus on competitors, staff, potential growth areas, are you doing enough marketing, are continue reading
The hospitality industry is now clearly the first true financial casualty of the restrictions recently placed by the government on our usual way of life. The inability to gather in groups, social distancing and cancellation of events, conferences and the like was brutally swift and unexpected. It has had an immediate and direct impact upon continue reading
For telemarketers, making several calls a day is just a small part of the job. The challenge and the reward lie in successfully clinching a deal or generating potential leads for the organisation they represent. Enlisting the services of telemarketers bridges a wide gap between suppliers and their existing clients as well as potential new continue reading
Terms of Trade are the terms and conditions on which a business sells goods and services to customers and on which they buy goods and services from suppliers. These terms form the basis for the trading relationships for all businesses. If a business is the supplier of goods or services then it should have written continue reading
Article originally posted on LinkedIn. Disputes among company shareholders are not just common, they should be seen as almost inevitable. This is not to take a negative view of human nature but merely to state the facts. Management and strategy questions can be difficult. People often disagree on fundamental business choices. Work and personal life continue reading
Article originally posted on LinkedIn You and your partners are starting up a new company. It’s incredibly hard work. But the team is functioning seamlessly, filled with energy and ambition, everything is going great. So, when should you bring in counsel to start lawyering the financial and authority agreements among the partners? At Sajen Legal, continue reading
The answer to the question “How do you determine if a company is insolvent?” is important because there are serious consequences for a director if debts are incurred after the company has become insolvent, including civil penalties, compensation proceedings and criminal charges. However, it is often difficult to know when a company has crossed the continue reading
Did you know that company directors may potentially become personally liable for unremitted Pay As You Go (PAYG) deductions, Superannuation Guarantee Charges (SGCs) or Goods and Services Taxes (GST) – and WET and LCT? The Australian Taxation Office (ATO) has significant powers to recover a company’s unpaid liabilities personally through its directors and may issue continue reading
A company is an association incorporated under the Corporations Act 2001 (Cth) (the ‘Act’). The effect of incorporation gives the company a separate entity, distinct from its directors and shareholders. It can enter into contracts, sue and be sued in its own right. The Australian Investment and Securities Commission (ASIC) is the Government body authorised continue reading
The Subcontractors’ Charges Act 1974 (Qld) (Act) is a powerful piece of legislation that can be used to protect the interests of subcontractors as against higher-tier contactors. Despite this, the Act has a number of strict requirements as to how and when its protections can be used. Many entities misunderstand these requirements and subsequently lose continue reading
A company is an association incorporated under the Corporations Act 2001 (Cth) (the ‘Act’). The effect of incorporation gives the company a separate entity, distinct from its directors and shareholders. It can enter into contracts, sue and be sued in its individual right. The Australian Investment and Securities Commission (ASIC) is the Government body authorised continue reading
In recent times the term corporate governance, and the increasingly popular good corporate governance, appear to be regular topics of discussion both in the media and the general population. These terms are regularly used when considering the actions of a wide range of companies from very small local companies through to global organisations such as continue reading
If your business or one you know (or an individual) is facing litigation, either because another party is threatening it, or because you feel you have a right to act, what do you do first and where do you seek help? It has been said that litigation is a game in which the court is continue reading
If your company is in financial difficulty and heading towards insolvency, there are options available which allow a company to be guided through its financial distress. The best option for your company depends on the solvency of the company and the broad range of director duties and obligations. In this article, we examine the three continue reading
Intellectual property (IP) is the property of your mind or proprietary knowledge and can be an invention, a trade mark, a design or the practical application of your idea. It is important that you understand how to protect IP as it is a valuable business asset and it will usually be easier and cheaper taking continue reading
The collapse of Storm Financial Limited (Storm) occurred in the wake of the Global Financial Crisis of 2008 (GFC) and reads like a textbook cautionary tale for directors and officers. Background Emmanuel and Julie Cassimatis established Storm and at all relevant times held all shares in the company and were the only executive directors. Prior continue reading
It is common for builders and operators in the construction industry to utilise contractors to carry out specific trade skills such as concreting, plastering, bricklaying and plumbing. Business operators however, need to be cautious when ‘hiring’ skilled or other labour to ensure that they are not in breach of provisions of the Fair Work Act continue reading
New privacy laws known as the Australian Privacy Principles were introduced in 2014, the laws are a new set of privacy principles affecting the handling of personal information. If you have a website privacy policy you should review it for compliance with the privacy principles. The aim of the principles is to bring Australia’s privacy continue reading
