Redundancies and Recourse for Executives
Unfortunately, in the course of your employment, things won’t always go your way. Although you might have worked incredibly hard throughout your career to reach an executive position, sometimes a business will undergo organisational changes which mean that they offer you a redundancy. You may feel hard done by in these circumstances, but it is important to understand your entitlements, and the limitations of your circumstances.
6 steps to a successful redundancy
Redundancies come with a unique set of rules that must be followed carefully. Failing to do so puts employers at risk of facing an unfair dismissal claim from their employees. Get informed and protect your business by following these steps.
Have your founders assigned their IP to your enterprise?
As the founder of an enterprise you must ensure that the legal entity you set up to exploit your business concept owns all of the IP associated with the concept. This includes the IP that is created directly on behalf of the company, but also any IP created by parties outside the company or in the time period before the company was formed.
Attention accountants. Don’t get blamed by your client when a DPN goes to the wrong address
The ATO’s ‘debt holiday’ is well and truly over, and it has moved past the warning phase and has been issuing a steady stream of director penalty notices (DPNs). As an accountant, there is a fair chance you act as the registered office for your client’s company. However, you know that you can’t be responsible […]
What is a ‘share class’?
You must understand the full implications of the share structure you adopt in your companies. How you set your companies up will have a material impact on the commercial control, commercial return, tax, asset protection and estate planning outcomes you achieve.
Do you have a new doctor joining your medical practice?
There are several ways a doctor can join your medical practice. As the owner of the practice, it is important for you to understand the key differences between each arrangement, and ensure you have the right agreements in place. Independent Practitioner (or ‘Associate’) Doctors who use your staff and facilities in exchange for paying you […]
Estate planning for sole directors of private companies
If you are the sole shareholder and director of a private company, have you thought about what will happen to your business if you lose capacity or die? Failure to plan for this eventuality can affect the financial viability of your assets and leave your family vulnerable – so it is something you need to turn your mind to. Fortunately, there are several solutions that are easy to implement and lots of advice about these issues is available.
Successful founders looking to scale need a great lawyer.
Natalie Massenet: I would definitely say get a lawyer. That’s the one thing. A lot would be different just with that one act.
The decentralised web (DWeb) – Blockchain, Smart Contracts, DAOs and NFTs
Lawyers are generally pretty conservative people. It’s our role within society to apply a skeptical view to new things, pay respect to historical precedent, and generally defend the more conservative and established institutions and social norms, i.e. to drag the chain a bit. For this reason, we have not paid too much attention to the […]
Director Identification Numbers
In June 2020, legislation was passed to enable the rollout of Director Identification Numbers (DINs) for company directors. The Australian Business Registry Services (ABRS) is ready to start registering directors from November 2021.