Do you own your business name? No, you don’t. Register a Trade Mark!
You cannot own a business name!
Before you even commence business you must understand the difference between each of these very different business tools - Business Names, Trade Marks and Company Names.
Anyone considering the sale of their business should also consider these things carefully. If trade marks, domain names, business names and business structures are not all in order, then seek legal advice as early as possible. We have seen business sales fall over because intellectual property including the business name is not registered.
The registration of the name is a process, nothing more, and that process does not guarantee exclusivity. The business owner having registered the business name has no legal right to prevent others from using that name, nor does completing the registration process provide any entitlement to compensation if the name is used by someone else without authority.
So what do you own after registration of your business name? It may surprise you that, you own nothing. Read more
Employee or Contractor?
There is lot at stake for an employer who incorrectly identifies a relationship as one between contractors when in fact the relationship is properly defined as one between employer and employee. An improper assessment of the relationship can lead to the financial ruin of a business. The improper assessment may result in a requirement for the unexpected payment of many years of award payments, sick leave, holiday leave, long service entitlements and superannuation. It is essential to get this right.
It is necessary to note at the outset that you cannot agree that a person is a contractor if in fact that person is an employee. An agreement between the parties of this kind is of no effect. The payments due to employees are required by statute and cannot be waived by anyone, not even the employee.
If it looks like a duck and quacks like a duck it is probably a duck. It should be no surprise that the courts don’t place any weight upon the “title” given to a worker. To assess whether a worker is an employee or a contractor the whole of the relationship must be examined.
Since the High Court decision in Hollis V Vabu (2001) 207 CLR 21 the common law distinguishes employees and contractors by considering various indicators under seven headings: Read more
Personal Property Register affects Conveyancing
The Personal Property Securities Register (the Register) and the Personal Property Securities Act 2009 (Cth) (PPSA) came into operation on 30 January 2012.
Land is not personal property under the PPSA and the PPSA does not apply to interests in fixtures.
Under the PPSA the secured party is responsible for amending the Register when there is a change to a security interest.
Secured Party means a person who holds a security interest for the person’s own benefit or for the benefit of another person.
Other parties may also correct the register. There is currently no prescribed release form.
Buyers may take personal property free of security interest in some cases. Under the PPSA there are extinguishment rules which mean that in some situations a purchaser will take possession of personal property free of a security interest if for instance: Read more 
How to raise funds for your project or business without going to a bank.
To finance an ark that size I’ll need to issue shares!
Private companies that have less than 50 non-employee shareholders can raise funds from the general public if that fund raising does not require a disclosure document to be prepared.
You should of course obtain legal advice in relation to the requirements associated with fund raising, as these requirements change from time to time however, we can give you some general information here. If you wish to raise funds you may find this short article useful. We would enjoy the opportunity to assist you.
Keep in mind that even if a disclosure document is not required there are significant risks that need to be managed in terms of, Read more
What is the legal Date of a Sale
Most transactions whether for the sale of property or a business include at least two or three important dates. These dates are:
1. The date that the contract is signed by the parties to that contract
2. The date that special conditions are satisfied
3. The date that the contract reaches settlement or completion. The completion date and the settlement date are different words, used to describe the same thing.
Which of these dates do authorities rely upon when determining the date of the sale? Read more
Some Things To Consider Before Buying A Business
News about the Personal Property Securities Register
Personal Property Securities Register (PPSR) The Federal Government is working on a new national register which will be available later in the year (around October 2011) – originally this date was May 2011. The changes it will bring will affect businesses and individuals.
Anyone who borrows money may be asked to provide a registered interest in property (not real estate). Manufacturers will be able to register their interest in goods that have not yet been paid for. The registration will create a system of priority the same as is currently done with mortgages and interests in real estate. If interests are not registered then those interests may not be properly protected.
It will be essential for franchisors and business owners to understand how this new system will work so that they can search to see what interests have already been registered against an individual or company. It will also be necessary to know how to quickly register an interest so that it is protected in priority to interests that others may seek to register. Speed will be very important.
If you have questions please contact us
