New Rent Relief in Victoria: How to Apply and What You Could Get
On 28 July 2021, the Victorian Government announced the reintroduction of the Commercial Tenancy Relief Scheme. The Victorian Labour Government has introduced new legislation to provide rent relief to commercial tenants that have experienced a loss in turnover of more than 30 per cent during the COVID-19 pandemic. Eligible businesses will benefit from rent relief […]
Ending a Tenancy: What You Need to Know About Lease Assignments
There are many reasons for a tenant to decide they want out of a lease agreement; it could be a matter or preference or because of things that are beyond their control. Some of the most common reasons include: (a) the business being sold (b) the need for a bigger (or smaller) space (c) issues […]
How to Resolve Commercial Disputes
Disputes, if not resolved quickly, often pose a threat to the continued success of a business. They can be a significant disruption from tasks critical to protecting your business interests and achieving your goals. However, with so many variables and regulations involved, navigating a dispute can be difficult especially if you become the subject of […]
How to Transfer Shares Using a Sale of Share Agreement
There are various reasons why shareholders may decide to sell their shares in a company: to retire, to start a new business, to raise money, to cut ties with the other company investors, as an exit strategy etc. Keep reading for more information about sale of share agreements as well as an overview of the […]
What You Need to Know About General Security Agreements
Looking to turn that business idea into a reality? Whether it’s to launch a startup or expand your existing operations, you’ll most likely need to either secure additional funding from third parties or fund the business yourself. You can do this by entering into a loan agreement and securing your interest. What is a General […]
What Insolvency Means and How It Can Affect You
In the current economic situation, it’s not unusual for businesses to experience financial uncertainty. But what if it reaches a point where the liabilities outweigh the assets? Is ‘closing’ the business the only way forward? What is Insolvency? Under the Corporations Act 2001 (the Act), a person or company is considered insolvent if they are […]
What a Binding Financial Agreement Is and How it Works
Thinking about getting married or entering into a de facto relationship? You might want to look at how you can protect your assets in the event that, for whatever reason, the sweet relationship turns sour. Read on to learn more about what binding financial agreements (also often called prenuptial agreements) are and how they can […]
What to Know When Buying a Business in Australia
Setting up your own business from scratch is tough work. That is why, sometimes, it is preferable to purchase an existing business. But don’t dive headfirst into the first offer or prospect that comes your way! It’s important that you do your research before making any decision. Financing Options When Buying a Business There are […]
What Is a Loan Agreement and Why Is It Important?
Talking about money can be very difficult, especially if it involves borrowing or lending considerable amounts of it. However, if you have a project in mind that costs more than your personal savings can cover, you might need to strike a deal to get the funding you need. Whether you do that with family, friends, […]
Employment Contracts and Why They Are Necessary
Writing down the specifics of an employment arrangement is not just a legal recommendation. It also helps in protecting the most important asset of a business: its people. In this article, we define employment contracts and discuss why they are necessary for managing professional relationships. What is a contract of employment? An employment contract is […]
Why You Should Have A Shareholders Agreement
Setting up a business with multiple owners? Drawing up a shareholders agreement is probably one of the most important documents for your business to move forward. Read on to get an idea of what a shareholders agreement is and why you should set one in place from the outset of your business. What is a […]
Why You Need Confidentiality Agreements
Need to share strategies, processes, and other sensitive information such as trade secrets to another individual or business? Make sure to keep a lid on your proprietary information so it doesn’t fall into the wrong hands. Learn more about confidentiality agreements and how they can protect your valuable trade secrets far better than raised hands […]