Other Commercial Topics

Disputes in the EU - Rules on Applicable Law
Where a dispute has a foreign element, one of the common problems is deciding under what jurisdiction legal action should be taken. This is avoided in many commercial contracts by specifying the applicable law in the contract, but in consumer contracts there...
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Bank Deposit Protection Rules for Businesses
In December 2010, new limits were announced for the levels of protection available for different investments underwritten by the Financial Services Compensation Scheme (FSCS). The FSCS protects the deposits of small companies, which are those which meet...
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Bribery Act Guidance
The Government provides guidance for businesses on complying with the Bribery Act 2010 , which came into force on 1 July 2011. The Act was originally scheduled to take effect in April 2011, but its implementation was delayed to allow the final version of...
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Business Relief - Traps for the Unwary
Most business people know that for family businesses there are generous Inheritance Tax (IHT) reliefs, which generally operate to make assets used in the business exempt or partially exempt from IHT. The reliefs take various forms but have been collectively...
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Buying from an Administrator - Take Care
With businesses becoming insolvent in large numbers, opportunities abound to acquire assets from their administrators. However, the low prices sought for the assets are due, at least in part, to the additional risk to the purchaser. Here are some of the...
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Companies Act 2006 Overview
The Companies Act 2006   became legally effective on 1st October 2009.  There are many useful resources on the new Companies Act which is highly significant as it in many respects simplifies the procedural requirements on setting up a limited...
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Companies Act Model Articles - Think First
Since the Companies Act 2006 came into effect, the incorporation of a company has been straightforward as the Act provides an easy to use set of model articles of incorporation. However, before you rush off and buy an ‘off the shelf’...
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Company Name Rules
You cannot incorporate a company using any name you like. Some names are prohibited (for example, those which suggest a connection with the Government or the Crown) and names will not be allowed if they are too similar to the names of existing companies. It...
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Company Disclosure Rules
The Companies (Trading Disclosures) Regulations 2008 set out the the requirements as to where and when company trading names, names of directors etc. need to be shown. The Statutory Instrument implementing the changes is both short and straightforward. In...
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Company Formation Checklist
In terms of cost, form filling and speed, setting up a new limited company has never been easier. However in the exciting rush to get going, it can be very easy to overlook crucial considerations, especially where you are likley to have other shareholders or...
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Considering Outsourcing
These days more and more processes are being outsourced (run by external contractors under a service agreement) by more and more businesses. It is particularly common to outsource IT functions and telephone call management. Outsourcing can offer many...
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Contractors Are Your Responsibility
A handbook  produced by the Health and Safety Executive (HSE) outlines the responsibilities of both the contractor and the client in situations in which work is carried out by contractors rather then employees. It does not apply to circumstances in...
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Employee Fraud - Fraud Act 2006
Employee fraud continues to rise as the recession continues to bite - however,  the Fraud Act 2006 provisions make it easier to obtain convictions for fraud a than was possible under the predecessor legislation. Under the Act, fraud offences are: ...
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Employee Fraud: Warning Signs
Employee fraud was a boom area even before the recession started.  ‘Targeted’ frauds, often backed by organised criminals, are also becoming more common. In these cases, an employee (often using a stolen identity) is ‘planted’ in...
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Financial Fraud - What Not to Do!
With recent surveys showing that instances of employee fraud are still on the increase, and HMRC showing regrettable lack of ability to safeguard personal data, eliminating poor security practices which make fraud easier is becoming even more important....
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Guide to Good Boardroom Practice
The Institute of Chartered Secretaries and Administrators have published an excellent and highly practical short guide (3 pages) to boardroom good practice, which will be of great interest to company secretaries and directors, especially non-executive...
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It Wasn't in the Contract
A common problem in contract disputes is that matters that create disagreement are sometimes not referred to specifically in the contract. However, as well as the express terms of a contract, there are also terms that are implied that is, they apply without...
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Letters of Intent - Getting Them Right
What Is a Letter of Intent? Letters of intent, commonly referred to as 'heads of agreement', are used to indicate the terms under which two or more people intend to enter into a contractual relationship when doing business together. The term 'letter of...
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Making Retention of Title Work
Prior to the recession, Retention of Title (RoT) clauses probably received less attention than they should have from many businesses. However, RoT is now back in the spotlight. An effective RoT clause will normally allow you to recover the goods you have...
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Money Laundering Regulations
Money laundering is the process by which criminals turn their 'dirty' income – which is usually earned in cash – into 'clean' money, by undertaking transactions which hide the original source of the cash and/or turn the cash into 'legitimate...
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New Contract, New Danger
Every business needs customers, but every customer, especially a new one, represents a risk to your business. It is a very serious issue but there are many things you can do to make sure that you increase your chances of getting paid. Clearly, the...
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Outsourcing the Processing of Personal Information - Guidance
The Information Commissioner’s Office offers guidance for small businesses on how to comply with the Data Protection Act 1998 (DPA) when you outsource the processing of personal information, such as your payroll function or customer mailing...
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Remedies for Breach of Contract
Having the right contract is always a good idea, but no matter how much protection it offers, no contract can prevent a breach of contract by the other party. If you enter into a contract and it is breached, there are several possible remedies available to...
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Retirement Planning and Your Business
It is arguable that the whole point of any business should be to enable the owners to retire when they want and with the lifestyle they want on retirement. Of course, enjoying it as you go along is a good idea too, but retirement comes to most of us...
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Step by Step Plan for Health and Safety Compliance
The Health and Safety Executive (HSE) has published a ‘ step by step plan’ for businesses for protecting the health and safety of workers and others . The key recommended actions are: 1. Register a new business with the appropriate authority...
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