Key Legal Considerations for Start-Ups
In recent years, dozens of traditional legal services have been reconfigured into impersonal software. Extremely easy and cost-efficient, law software allows individuals and companies to fill appropriate information in a handful of blank spaces to produce a fully legal document in no time flat. Many people have started to question whether living, breathing solicitors are necessary at all, considering the wealth of services that computer programs can provide.
The law does require a certain amount of minimum written information to be provided to employees at the commencement of their employment, and an employee is entitled to written information in respect of specified employment terms within two months of their employment commencing.
It is fairly common for clients to view the required use of a solicitor by a Bank as just for the purpose of witnessing their signature. This cannot be further from the truth.
A The Limited Liability Partnership Act 2000 (“the Act”) created a legal entity known as a Limited Liability Partnership (“LLP”). However, this new business format appears to only have been taken up by professional bodies such as accountants, surveyors and solicitor’s.
The Companies Act of 2006 is important to companies who don't always do the right thing when it comes to their business.
Limited Company? Partnership? Sole Trader? Social Enterprise? Making up your mind about the legal status of your business will depend upon how much you wish to protect yourself from risk, how many people are involved in your venture, and how you wish to be seen by the big wide business world.
From our two days at the Business Start Up Show it became clear from our survey a key point for new businesses was the costs involved in hiring a solicitor to check over or create employment contracts, supplier contracts and terms of business.
The two major advantages of Limited company are reduction in the amount of tax that is expected of your company and greater protection of your personal assets if the company runs into debt.
Non Competition Coventants
The effect of existing employment non competition covenants when setting up your own business in competition with a former employer
Notes of engagement
It is a great temptation when starting off a business to engage self employed consultants/contractors without any formal documentation or simply after an exchange of emails.
Start Up legal advice
Like entering into a marriage, every new business is hopefully an exciting prospect, entered into with a view to a fulfilling and financially rewarding future.
Terms & Conditions.
It really is good practice to have in place a set of Terms and Conditions which you provide to your customer explaining the terms which apply when they purchase goods or services from you.