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

Setting up a share of freehold property company – the legal issues to consider

10/06/2013

Freehold property management company – when and why? Property management companies are often formed where the freehold is sold off to the leaseholders and where the freeholder will be responsible for management. Freehold management companies typically occur with a small block of flats or a converted house and the leaseholders each have shares in the READ MORE

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