Reasonable endeavours in contracts

16/12/2013

Reasonable endeavours clauses When negotiating an important commercial contract, either or both parties will generally and rightly use solicitors. Remember however, that unless there are other 3rd party interests such as finance providers to satisfy, the solicitors are there as agents of the client. The client should remain in control. There are often aspects of READ MORE

Important clauses in a contract – some may not be obvious

10/12/2013

For completely understandable reasons, clients tend to focus on certain clauses in their contracts as being most important. The obvious clauses of this type, where you are selling goods or services are describing the goods or the service sufficiently accurately and of course the price to be paid. After that, the focus tends to be READ MORE

Job titles – may create unexpected legal risks

10/12/2013

As a business grows there is an obvious need to reflect this with a clear organisational structure, important both in dealing with external customers and suppliers and so that the business functions properly internally. This may result in the need to create different departments for different functions, such as sales, marketing, finance and administration. Some READ MORE

A colossal failure of common sense ?

01/12/2013

As good lawyers should, I like to read up on important recent decisions, and a case I read recently stood out for me for reasons which may not be immediately obvious. Litigation cases start for a number of reasons – ranging from the vital areas of debt recovery for small businesses, to issues which are READ MORE

Is UK contract law becoming less relevant ?

19/11/2013

I came across a really interesting stat the other day whilst reading a fascinating report on small business use and attitudes towards using lawyers. Many small businesses baulk at using lawyers generally – it’s a problem for both sides. For the business, many are taking the view that they don’t need legal advice or that READ MORE

Succession planning – key legal aspects

14/11/2013

Think succession planning think exit planning think tax planning – all of these terms are generally synonymous in most small business or family business’ thinking as retirement approaches. However, there are potential legal issues which also need to be considered at a much earlier stage. Many businesses are classified as family businesses but what does READ MORE

Buying a website – legal issues and pitfalls

08/11/2013

Buying or selling a website Websites are now a vital part of many businesses, so if you are buying a business you need to do your homework. Typically, you will instruct an accountant to look at the financials and a lawyer to look at the legal aspects. Bearing in mind the importance and value a READ MORE

Important veto rights for shareholders

29/10/2013

When investing into a company, especially as minority shareholder, it’s vital to protect your interests. Remember that whilst the shareholders own the company, the directors have day to day control. If you are not a director and don’t have the power to change or remove directors (it is worth seeking to ensure that you do READ MORE

Is your business investment ready ?

11/10/2013

At some stage, many businesses will want or require additional investment, whether in the form of loans or external investment, with an injection of cash to grow the business in return for a dilution of equity. In a market where traditional bank finance is less obtainable with a commensurate rise in private investing such as READ MORE

Shareholders Agreement – the key reason a small business needs one as much as a big one

11/10/2013

Many small businesses do not appreciate the importance and value of a clear and well thought out shareholders agreement. Here’s why it’s so important. The vast majority of companies in the UK are very small, typically family owned businesses. Owners of those businesses tend to believe they can rely more on informality than a large READ MORE