chester

Chester 01244 405 555

Grosvenor Court
Foregate Street Chester
Cheshire CH1 1HG
DX: 19990 Chester

shrewsbury

Shrewsbury 01743 443043

Lakeside House
Oxon Business Park
Shrewsbury SY3 5HJ
DX: 148563 Shrewsbury 14

Greater Manchester 0333 241 6886

Kennedy House,
31 Stamford St,
Altrincham WA14 1ES

20th April, 2015

Legal requirements of small businesses


Hugh Strickland, Corporate & Commercial Partner and Amanda Wickstead, Corporate Solicitor, both deal with businesses on a day to day basis.

Here they answer some of questions on the legal requirements of small businesses, picking out specific points in a company’s growth where legal advice at the outset can save a lot of problems later.

Have your Terms and Conditions been reviewed by a legal adviser?

In contracts with your customers and suppliers, whose terms prevail? Yours or the other party? A thorough check of your payment terms and ensuring they are adhered to can really help with cash flow.

Are you thinking of taking on a partner or making an employee a director?

A shareholder agreement is really important – it sets the terms when things are going well and includes the ‘rules for falling out’ if things go wrong.

Are you ready to take on an employee?

As well as being mandatory, contracts of employment protect the employer as well as the employee. Restrictive covenants prevent an employee who has learnt all he can about your business from setting up in competition next door.

Take legal advice before implementing any change.

The only certainty in business is change but change is fraught with pitfalls. A sound legal structure can help ensure change is for the better.

Protect your intellectual property

Your own personal brand is how your business is recognised and companies are very protective of their brand. Take legal advice on registering patents and trademarks and protecting your brand. Researching brand names before finalising a name can save a fortune on domain registrations and marketing.

Copyright and Licences

Software development – who owns software you have paid for?  Generally, the developers own it so have licensing rights. If your employees create it, it’s yours but if sub-contractors develop it, it may be theirs. Legal agreements can make this clear.

Who gets your business if something happens to you?

A business is often the single biggest asset when someone dies and this is likely to increase the combined asset value to over the £650,000 threshold. Legal advice well in advance can ensure that your family and your business are properly looked after should something happen to you.

For more information please contact Hugh Strickland on 01743 294120 [email protected] or Amanda Wickstead on 01743 453688 [email protected]

 



Contact Us

You might also be interested in...

A Sponsor Licence and Skilled Workers: Employing overseas nationals

22nd November, 2022

With a growing labour shortage in the UK, it is becoming more prevalent for UK businesses to begin... Read More »

Health and Care Worker

Routes to the UK: The Health and Care Worker Visa

22nd November, 2022

It is well reported that the UK has been experiencing labour shortages in the health sector for a... Read More »

The World Cup 2022: HR and employment law issues employers may face

18th November, 2022

With the 2022 FIFA World Cup just around the corner, and a month of football ahead, our employment... Read More »

Contact Us