Founding a company is a lot easier than retaining control of it. Part of your journey will necessarily involve other people. First, it may be a co-founder. Then family and friend investors, and ultimately professional investors. During this evolution, the chances of you being left behind, and things getting out of control, increase exponentially. We’ll help you get back in control, with a binding entitlement to what you’re worth.
Picture this:
You are a small business owner.
After getting through the first five years of trade, you are starting to see returns on the time, emotion and finances that you have invested into the business.
Then a document comes in the mail and your fortune turns on its head. You are faced with a claim by a former employee and you realise your business is faced with an unexpected liability worth thousands of dollars. All due to a clause nested in a Modern Award that you had simply overlooked or misunderstood.
Here’s how to avoid becoming that business.
Andreyev Lawyers – supportive and empathetic. This was a difficult process but Andreyev Lawyers provided timely advice and guidance and I was confident that they were doing their upmost.
As a general rule, a company provides its shareholders with ‘limited liability’. This means that the extent of resources a shareholder risks when they invest in an enterprise is limited to the amount of capital they put into the company (or agree to put in). If the company runs out of resources, or gets hit with a nasty surprise, the capital may all be lost, but the shareholders are not obliged to put anything additional in. They have just ‘done their doe’.
The limitation of liability for shareholders has not really changed much over the centuries that limited liability companies have been around. What has changed, is the role and responsibility of directors.
Here are some reasons why you should think about a Constitution for your company, rather than simply adopting the ‘replaceable rules’ in the Corporations Act.
As a business owner, you trust your employees to be honest. It’s therefore every employer’s worst fear to find out that an employee has been stealing from you. But what if then, that employee sues you, and your lawyer tells you that employee has a case?
Limitation of liability clauses are a great way for parties to a contract to limit, manage or allocate risk between them.
Indemnities are often treated like a ‘standard’ or ‘boilerplate’ contract clause, when they are anything but. If they are ignored or overlooked, you could be in trouble when something goes wrong. However, when used properly, indemnity clauses can help you to manage your risk when entering into an agreement.
As a lawyer, you really savour the great deals you get to assist great clients with. Find out about just such a deal we recently had the fortune of being entrusted with.
Previously, politicians (most recently, the Shorten Opposition) have proposed halving the CGT discount to 25%, or maybe eliminate it completely. Is this a good idea? Andrew Andreyev shares the simple truth
The ATO is using Director Penalty Notices more often. However, the ATO officers are only human and they can make mistakes. There are four main ways in which your DPN may be challenged.
How we helped business owners build and sustain strong business growth Our clients own a rapidly growing equipment hire business. To sustain this growth, they needed to ‘clean up’ and simplify their business structure to ensure that the business was operating as...
You would think this is obvious. Some of us can still remember our first school savings account with the State Bank, pink piggybank and all… But when you start involving companies, trusts and partnerships, things can get a little more complicated.
If you are involved with an incorporated association or considering setting one up, then chances are you have come across the term ‘model rules’.
Did you know that you do not have to use the model rules? Incorporated associations can choose to write their own rules.
Here are 5 things to consider when preparing or updating your incorporated association’s rules.
You’ll be put straight through to a great lawyer who will guide you to the right solution.