Legal tips for non-executive directors

08/06/2013

A non-executive director (NEDs) is a member of a company’s board of directors but generally such directors are not part of the day-to-day management team, are not employees and typically offer part time external oversight. However, technically, non-executives are still registered as directors and have legal accountability. The purpose of bringing in non-executives is to READ MORE

Dismissing a company director

08/06/2013

When considering the dismissal of any employee there are a number of factors that must be taken into consideration and correct procedure must be followed. Is the director an employee? A key question to begin is – is the director an employee? Some directors are employees and some are self employed. It is likely there READ MORE

Better to spend money on legal fees than business insurance ?

27/04/2013

Insurance is big business and there’s no doubt that every business needs insurance, not least because it’s compulsory by law to have Employers liability and Public liability. Other types of insurance, such as Property insurance cover are also more or less mandatory if you have a mortgage and of course are critical. However, the insurance READ MORE

Letters of credit – standard & straightforward ? Not necessarily

01/04/2013

What is a letter of credit? A letter of credit is perhaps the most common payment method with regard to trade of an international nature. A letter of credit is a written guarantee from a bank or other appropriate financial institution confirming that the buyer in the transaction has the required funds and will make READ MORE

Restoration of a Company – forgotten assets

20/03/2013

It is becoming more and more common that Companies are being dissolved and then, some time later, we get a call from a former shareholder having suddenly remembered that in fact the company owned a fairly significant asset and could they please have the asset transferred to them. Unfortunately it’s not that simple. If the READ MORE

Commission based agreements

03/03/2013

A commission agreement also sometime referred to as an affiliate, introducer or referral agreement, is a type of agreement whereby an individual or company agrees to make a payment to another in return for their goods or services being referred on by that intermediary to them. This type of agreement is different to an agency READ MORE

Start up funding – preparing to pitch for crowdfunding

06/02/2013

Traditionally if you were the owner of an unlisted private company there were limited opportunities for investment from outside third parties. You could apply for a bank loan or increased overdraft, ask a friend or family member or even seek investment from a small private equity provider or business angel. Times are changing for small READ MORE

Company Acquisitions – Top 10 Legal Tips

06/01/2013

Regardless of the size of your business, whether you are an SME or a PLC, there is always room to grow and develop. Company acquisitions are an efficient way of expanding your business but if not done correctly with both legal and financial due diligence, the acquisition could go horribly wrong. The following our top READ MORE

What is a phoenix company?

06/01/2013

A phoenix company is the term used to describe a new company which is started by individuals involved in a previous company which has gone into liquidation or administration.  Typically, the assets of the old business are purchased by a party connected to the previous company. The clear advantage is that the newly formed company READ MORE

Special Resolutions – practical tips

20/12/2012

The Companies Act 2006 provides a legal framework under which companies operate including how decisions are made. Under the Companies Act 2006 when a company makes important decisions this generally has to be made by way of resolutions which are passed at meetings (by show of hands or by proxy). Resolutions Resolutions are either ordinary READ MORE