Starting a business can be daunting whether it is your first business or you are an experienced entrepreneur and making sure you get the right business legal advice is not always the easiest. There are many areas where a lawyer will help you with your new start up. We ensure that your business documentation is correct so that your business is protected. You need to find a lawyer who understands your business and can grow with it and be a trusted advisor to help you as your business develops.
A new start-up will require certain legal documents and agreements, and this can vary depending on the type of business you have. We make sure that we understand your business and industry and that the documents for your start-up are relevant and not generic templates. Templates can be a good start, but ultimately poorly worded terms and conditions give rise to business disputes and often deliver poor outcomes.
The first thing you should consider is the corporate structure. This is the fundamental base structure and your lawyer can help prepare the documentation so that you have the best protection. The right corporate structure can assist with tax-effectiveness, liability and future growth. You may need partnership agreements or shareholder agreements or more complex documentation. These will all add a layer of protection to the business and the stakeholders.
If you are starting a company with others, you will presumably have more than one shareholders. It is prudent – and therefore usual – to have a shareholder agreement to govern such matters as how each shareholder is to behave, and what happens if a shareholder misbehaves and how to exit by way of sale of the shares or otherwise. If there is company/trust arrangement rather than a standalone trading company used as the main vehicle, a unitholders deed will be used instead of a shareholder agreement. These arrangements can be put in place at any time but are best done at the start.
The above is to be distinguished from a partnership. In a partnership, there will be as least two parties that come together as business partners. The partners may be individuals, which is the most common, but may also be corporate partners. Many partnerships, especially smaller two party partnerships overlook the need for a partnership agreement. We see many partnership disputes that arise simply to due to there be no agreement in place. It is wise to put a partnership agreement in place, even if the you have been trading for a while.
There are a variety of agreements that a lawyer can assist with, including:
Making sure that these documents are specific to your industry and business is crucial to how effective they will be when it really counts. Having the right documentation will protect your business and help to avoid disputes arising down the track.
Getting legal advice before you sign a commercial property lease is a must. A commercial lease lawyer will be able to help you understand what is in the lease, negotiate terms and special conditions. Getting the right advice can save you from disputes arising and help you negotiate the best deal.
If you are employing people you will need a variety of employment contracts for part-time, full-time and casual employees. Ensuring that your relationship with employees starts off on the right foot and your business interests are protected you need to have these documents in place.
If you are establishing a creative design or a unique brand name and want to make sure that you are not copied getting trademarks and your intellectual property protected is crucial. You will spend of lot of time and money creating your brand – make sure no one can copy it.
Making sure that you have right documents in your business and are complying the right legislation is crucial to having good customer relationships. Many relationships turn sour when the debts are owed, we make sure that you have the right terms and agreements and understand how to recoup your debts quickly if needed.
If you are seeking funding or you are raising capital then you will need to have the right loan agreements in place or are advised on the your commercial loan agreements. Having a lawyer who help you through the legalities of capital raising and loan agreements. This will help you present a professional image to potential investors or understand your obligations if you are borrowing from a commercial lender.
You might be unsure of what questions to ask a lawyer when you are starting up your business, but our team can assist you and provide the right commercial legal advice. Having experienced and knowledgeable professionals on your team can help in getting your questions answered and we will look to see what else you may need to do that you have not considered yet. We work to provide our clients with right tools and knowledge to grow and prosper their businesses.
We work with many SME and individual clients and provide not only the best legal advice but we are focussed on delivering a legal advice with commercial understanding. We are experienced at helping businesses from start-up to insolvency and our understanding and experience of businesses legal needs and problems will assist you in avoiding problems down the track. Call one of our team to discuss how we can help you in your new business venture.
Call us now on 1300 907 335 or simply fill out the contact form on this page and we will contact you promptly.