01
Aug 2022
PREPARING YOUR BUSINESS FOR SALE
PREPARING YOUR BUSINESS FOR SALE Selling a business can be one of the biggest decisions you make. However, once you have decided to sell, there are several important things that you should consider before listing the business on the open market to ensure that your business sells at optimal value. Business Financials The most important thing in preparing a business for sale is getting the financials of the business in
12
Apr 2019
SALE OF SHARES V SALE OF BUSINESS
SALE OF SHARES V SALE OF BUSINESS There are two ways to buy a business: Buy the Company (or more accurately the shares in the Company that operates the business); or Buy the Business (being the assets of the business owned by the Company or other legal entity). Each option has its own pros and cons, and really depends on the type of business being operated (some business licences cannot
18
Jun 2018
HAVE YOU SEARCHED THE PPSR?
Despite being introduced over six years ago, the Personal Property Securities Register or the PPSR is still widely unknown in business. What is the PPSR? The PPSR is the single national register of security interests in personal property. Personal property includes vehicles, stock and equipment or basically anything that is not land, buildings or fixtures. A security interest is an interest in personal property that secures payment of a debt
The highly anticipated Liquor Control Amendment Bill 2018 was presented to Parliament on 20 February 2018, and passed the lower house on 10 April 2018. In keeping with his election commitment, Premier Mark McGowan introduced a range of improvements in the way liquor outlets around the state are controlled. There are a number of key changes proposed which impact on liquor stores, in particular the larger liquor barns. As a result,
11
Apr 2018
IS A TRADE MARK WORTH IT?
Registration of a trade mark offers different, and important, protections to the registration of a business name. Whilst both can be used to identify your business, registering your business name does not give you legal proprietary rights over that name. Business Name A business name is the name under which your business operates. You only need to register a business name if you are trading under a name that is
06
Sep 2017
Restaurants selling liquor without a meal
Pursuant to the Liquor Control Act 1988 (WA) the primary and predominant purpose of a restaurant must be the regular supply of meals to customers seated at a dining table (or similar fixed structure). However, restaurants can obtain an extended trading permit to serve liquor without a meal. If the capacity of the premises is less than 120 persons, then the process for obtaining an extended trading permit is relatively
31
Aug 2017
Is your contract unfair?
Dubbed the ‘Unfair Contracts Act’, recent changes to legislation finally provides parties to standard form contracts with greater protection. A standard form contract is one that has been prepared by one party to the contract and where the other party has little or no opportunity to negotiate the terms of the contract, effectively it is a ‘take it or leave it’ contract. These changes apply to contracts entered into on
29
Jun 2017
DO YOU NEED TO RENEGOTIATE YOUR RENT?
If leasing a hospitality premises, it is critical to get the lease right or your business will suffer. Whilst recent data is showing a slow and stagnant market, one thing remains constant with any business, rent. Behind staffing costs, rent is one of the largest expenses for any hospitality venue. Therefore, it is critical that the rent payable is sustainable and the other terms and conditions of the lease are
01
Jun 2017
Common Sense Prevails for WA Distiller
Whilst distilleries were forgotten in the recent review of the Liquor Control Act 1988 (WA), common sense has finally prevailed with at least one distiller in Western Australia now allowed to sell their spirit sample product with a mixer. Section 55 of the Liquor Control Act covers wine, beer and spirit producers, however, all is not equal with distillers not allowed to sell or supply their own product for on
18
May 2017
The Legal Risks of Social Media
Social media has become a very effective marketing tool. However, you do not have to try too hard to find examples of where social media has resulted in poor publicity for a business. Whilst some say any publicity is good publicity, business operators need to be careful on a number of legal fronts when engaging in social media activities. Some key issues include: Copyright Law There have been a number