Running a business is difficult and not having appropriate, up to date contracts in place can be a risk.
Businesses go through various stages of their life cycle, particularly from start-up to expansion and at the crossroads. Perhaps there are issues dealing with internal ownership difficulties which may be a trigger to review the company’s legal contracts and arrangements. Changes in the marketplace, or seeking a new direction, or even exiting can be other events triggering the need to review legal issues.
The strength and value of your business is significantly affected by contracts you have in place. Within certain industries such as Medical Technology, this is even more crucial, given the constant development of new products, on-going regulatory changes and the need to be innovative. This requires strong, robust contracts to protect your IP and business reputation.
There is also the ever-present risk to business owners in their personal capacity, as directors, to ensure that they are doing all things in their capacity to protect the interests of shareholders.
Just as we all see the doctor from time to time for a general health check, it is good business practice to have your company’s legal arrangements reviewed to ensure everything is in order. When was the last time you reviewed your contracts? This can include:
- Employment contracts
- Post-employment obligations
- Leasing agreements
- Supplier agreements and supplier due diligence
- IP checks
- Shareholder agreements
- Director duties
- Super funds
The AV Business Advisory Team offers complementary Business Health-Checks – where we meet with you to check the ‘well-being’ of your business by conducting an audit on your major contracts. We help ensure that you have planned for future liabilities and responsibilities, implemented the appropriate mechanisms to mitigate risk, and that you have in place contracts which do what they were intended to do, within the bounds of current legislation, and without exposing your company unnecessarily.
Where there is a clear gap in your legal arrangements, or where we identify legislative changes which may not have been addressed in your legal documentation as they currently stand, we can provide a fixed fee quote to you to address each of the issues raised, and roll out the updates and changes over a timeframe which you can audit which is realistic, starting with the most urgent and serious risk factors first.
One of the features which makes our service unique is that we offer an interdisciplinary approach, consisting of lawyers with backgrounds in commercial, property, litigation and employment. So we can provide rounded advice that takes into account all of the relevant considerations and potential outcomes.
Contract Health-checks include the following areas:
- Trademark Applications
- Director’s Duties
- Employment Law
- Logistics Agreements
- Warranty Claims
- Code of Conduct
- Supplier Agreements
- Australian Consumer Law
- Distribution Agreements
- Statutory & Regulatory Compliance
- Product Litigation
- Trading Terms & Agreements
- Code Compliance
- Intellectual Property
- Mergers & Acquisitions
- Leasing Agreements