startup business

Expert Legal Guidance For Starting your Own Business

The prospect of starting your own business is often an exhilarating one. However, it’s extremely important to keep yourself and your business safe from the crippling risks of litigation. Seasoned commercial lawyers can help minimise the risks of lawsuits and liabilities in several important ways. Legal problems and headaches in Australia can severely impact your business and affect the bottom line. While starting or running a business is an extremely rewarding experience, you will feel more confident with an expert lawyer looking out for you. It’s crucial to take proactive steps to prevent the occurrence of legal issues which can sap any business of life, reputation and profit.

Regardless of the size or nature of the business, there are some common legal issues that should be never be neglected. These issues usually occur in relation to:

  • The structure of the business: Each type of business structure is managed, handled and taxed differently. The choice of structure involves knowledge of different types of taxation policies etc and it pays to seek expert legal advice because as a new entrepreneur, you don’t wish to inadvertently put your foot on the wrong side of law.
  • Contracts and agreements: Lawyers can help prepare and create contracts that you need in order to legalise your professional relationship with employees, contractors etc. Employment contracts should clearly spell out terms and conditions, salary, benefits, termination clauses etc. Experienced lawyers can help create watertight, comprehensive contracts for your business.
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Breach of Contract

Looking to File a Complaint against Breach of Contract?

Seek Competent Legal Expertise

Disputes between shareholders can often be highly complex and sensitive in nature. Knowledgeable commercial lawyers can help the parties resolve issues within the framework of Australian Corporate law. Shareholders may find it particularly difficult to reach agreements regarding evaluation, finance and other related issues. A shareholder is an individual who owns stock in the company. Shareholder disputes often involve allegations of breach of fiduciary duty or fraud.

In simple words, fiduciary duties refer to fairness and loyalty in commercial practices. Directors and other employees of a company are expected by law to put the interests of the business first. Breach of fiduciary duty occurs when an individual acts against the best interests of the company or business or performs an action that is perceived as conflict of interest.

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Buying a Home

Nine Tips For Making A Watertight Business Agreement

Strong business agreements are extremely important, especially if you are in charge of creating them. There are many things that you can do to make it easier to draft an effective agreement, but one of the most important is to consult experienced commercial lawyers. Below are 9  top tips for creating a watertight business agreement:

  1. Talk to a professional

Again, the most important thing that you can do is talk to a professional commercial lawyer. They will make sure that you have all the legalities sorted out, which will protect you from problems in the future.

  1. Discuss the agreement with both parties

If you are in charge of drafting the business agreement, make sure that you talk to representatives from both (or all) parties involved. This will allow you to get an idea of their expectations, and will help you get started.

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