As a business owner, it’s crucial to realise that your most valuable asset may be your intellectual property. As such, ensuring you are properly protected is vital to the success of your company. What is intellectual property (IP)? Intellectual property refers to non-physical creations that are the result of your intellectual creativity. IP rights give...
If you are a business offering a product or service in Australia, you are subject to the Australian Consumer Law (ACL) under the Competition and Consumer Act 2010. However, many corporations are unsure about the necessity of consumer guarantees, which can lead to costly litigation from both consumers and the government. What are consumer guarantees?...
When running a business, one of the largest challenges you will encounter is managing staff. This is especially the case when an employee’s services are no longer necessary, or if they are underperforming. In these instances, it is crucial that you, as a business owner, take careful steps to avoid any claims of unfair dismissal...
Many companies will face financial issues at some point during their lifetime. In fact, according to data provided by analytics experts Illion, of the 2.1 million small businesses in Australia, 54,992 closed down last year. A company that cannot pay its debts when they are due is referred to as “insolvent” (which is different from...
When dealing with complex matters with another party, it can often be tempting to undertake negotiations yourself. After all, who knows the intricacies of your situation better than yourself? However, handling negotiations personally can often result in emotions taking over, with hotheaded decisions taking the fore. If you are committed to securing the best outcome...
Are you underpaying your employees and if so, what are the consequences? The Fair Work Ombudsman (“the FWO”) has wide reaching powers and can conduct workplace investigations regarding compliance with workplace laws. Following investigations regarding the underpayment of employees, the FWO can: Issue a contravention letter advising an employer of the laws broken and how...
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