Landlords, tenants and managing agents should be aware of new provisions under the revised Retail Shop Leases Act 1994 (the ‘Act’). The Retail Shop Leases Amendment Bill 2015, staged to commence in November 2016, triggers new considerations when entering into a lease. The changes are intended to uphold present consumer protective provisions, whilst clarifying some continue reading
The Federal Government has enacted legislation extending the unfair contract term protections of the Competition and Consumer Act 2010 (Cth) and the Australian Securities and Investments Commission Act 2001 (Cth) to the small business sector. Under the new laws, a Court is able to declare that a term of a standard form small business contract continue reading
During difficult economic conditions it is important that all directors revisit their duties as directors and are aware of how the board should deal with the situation where a company is in financial difficulty and may be insolvent. What is insolvency? A company is deemed to be insolvent when it cannot pay its debts as continue reading
Everything You Need To Know About Shareholders Agreements If you’re planning on investing in a company, you probably expect that your investment will allow you to realise certain benefits in the future. Perhaps you’ve been promised a share in the company’s profits, or offered a managerial role in the business. Maybe you want to influence continue reading
Increase In Minimum Wage The Fair Work Commission has announced a 2.4% increase to minimum wages that will apply from the first full pay period starting on or after 1 July 2016. This will bring the new national minimum wage up to $17.70 per hour, but it won’t affect employees who are already getting paid continue reading
So you’ve got a great idea for a new invention. Something that will make that food-materializing microwave from Fifth Element look like a lousy toaster oven. Congratulations! You’re going to be a squillionaire! But what do you do next? First, you’ll want to patent your design to ensure that no one else can profit from continue reading
Busy creative professionals like graphic artists, web designers and copywriters will know how much time and effort goes into working on a new brand for a client. Once those creative juices start flowing, the rush of inspiration often leaves little room to consider possible legal ramifications and financial consequences. These are seen as mind-numbing technicalities, continue reading
Overzealous airport security, long days on the road and annoying flight delays can make travelling for business a challenging experience. However, there are ways to make your business travel less stressful and more enjoyable. Whether you’re travelling to see clients for half the year or have to attend monthly meetings interstate, there are simple ways continue reading
Cash flow problems are often serious concern for any business. In today’s world, unstable economic conditions are making it increasingly difficult for small and medium businesses to maintain a steady source of cash flow. However, a cash flow problem doesn’t necessarily stem from negative cash flow. It could come from making a huge payment, leading continue reading
Lawyers are their own worst enemy, it’s no wonder nobody likes them. A contract is only as good as your ability or willingness to enforce it. Better no contract than a poorly drafted one. Judges are human too, they err. Some people can’t be told or sold. Rights come with responsibility – give away the continue reading
The use of search and seizure powers by various government agencies (DERM, QPS, ASIC, ATO etc.) puts businesses at risk of significant penalties and brand damage. The way a business responds, by providing either too little or too much cooperation to these agencies, can have a significant effect on the ability to minimise the impact continue reading
Businesses can fail for a range of reasons, many of which are obvious. There are, however, a number of (perhaps less discernible) factors that frequently and unwittingly contribute to the failure of businesses. We’ve listed some of these below – don’t say we didn’t warn you! 1. Putting all of your eggs in one basket continue reading
It can be easy to romanticise the process of taking over an existing business. You’ve probably got plenty of ideas about changes that need to be made, and you can’t wait to get in there and start putting your own touch on things. While there’s nothing wrong with being enthusiastic about your new venture, it’s continue reading
Trusts have become an extremely popular tool in business and personal asset protection and tax minimisation strategies. A common misconception with a Trust is that it is a legal entity in the same mould as a person or a company. People will often say “my trust owns this” or “my business is a trust”. Whilst continue reading
In every workplace, there are times when you can feel drained or stressed, and it is often at those times that motivation levels start to dwindle. Re-inspire yourself and your workplace with these 5 great TED Talks. #1: Shawn Achor – The Happy Secret to Better Work We believe we should work hard in continue reading
In some circumstances, company directors may be held personally liable for company debt. Such circumstances include where a company owes monies to the ATO under the Pay As You Go withholding system (PAYG) and/or pursuant to its Superannuation Guarantee Charge obligations (SGC). In the event a company fails to pay any amount of PAYG and/or continue reading
Whether you are an artist, designer, inventor, or just all-round creative genius, your ideas are your most important asset, and you need to make sure they are being looked after. Because no matter what stage you are at in your creative career, it’s never too soon to break out of the starving artist cliché and continue reading
Avoiding a nightmare before Christmas: Tips for Employers when planning your staff party Did you know that employees attending work Christmas parties are generally considered to be acting in the course of their employment? That means you could be held responsible for any injuries or inappropriate behaviour that may take place, especially where free-flowing alcohol continue reading
Selling Out Most entrepreneurs fantasise about the day that they will be able to sell their business and cash in on their success. While it might be easy to get caught up daydreaming about those plans, the reality is that there will be a lot of work involved if you want to ensure a smooth continue reading
Value of IP Most businesses have intellectual property (IP), even if they don’t realise it. It could be something as exotic as the Colonel’s Secret Herbs and Spices or as simple as your client/customer list. Brand and online data have rapidly become the most important assets of successful modern businesses. The days of owning vast continue reading
