So you’ve just come up with a great business concept, given it a test-drive among your family and friends, and now want to go to the next stage. What do you do? You need to put together the ‘playing field’ for your venture. In other words, you need a ‘business structure’.
Your super doesn’t form part of your estate, and is not subject to the terms of your Will. It’s therefore critical to have in place appropriate arrangements to make sure your super ends up where you intend.
When we hear the word ‘company’, we all think we know what the person is talking about. We deal with companies every day. Most of us work for a company, and we certainly buy things from them. But companies are actually a strange thing. Let’s start with a bit of a history lesson.
Is your commercial lease compliant with the PPSR regime? You need to know the answer to this question. Everyone has heard about the Personal Property Securities Register (PPSR), which came online on 30 January 2012. The implications of the new registration system are still not widely known. For many people the need for registration is only discovered after it is too late.
What would happen if you lost mental capacity or died? While your physical life may be well provided for, chances are your digital life and digital wealth is seriously at risk.
Well drafted ‘pre-emption’ clauses in a Shareholders Agreement or Constitution provide you with important protections. But there are a number of potential traps that you need to be aware of.