Your Sydney Business Law Experts

Corporate insolvency occurs when a company is unable to pay its debts when they are due. This can lead to several different types of corporate insolvency procedures, such as liquidation, voluntary administration, and receivership, each with its own legal and commercial implications.

Under the Corporations Act, company directors have key duties, including acting in good faith, exercising care and diligence, and avoiding insolvent trading. Breaching these duties can result in personal liability for directors, including financial penalties and disqualification from managing companies.

You can protect your business’s intellectual property through various means, such as registering trademarks for your brand name and logo, obtaining patents for inventions, and using confidentiality agreements to protect trade secrets. Registering intellectual property rights provides legal protection and allows you to enforce those rights against infringers.

A partnership agreement is a legal document that outlines the rights and obligations of partners in a business partnership. It covers crucial aspects such as profit sharing, decision-making processes, dispute resolution mechanisms, and procedures for admitting or withdrawing partners. A well-drafted partnership agreement helps prevent misunderstandings and conflicts between partners.

Recovering a debt typically starts with sending a letter of demand, followed by negotiation or mediation if the debtor is willing to engage. If these efforts fail, you can initiate legal proceedings to obtain a judgement against the debtor, which can then be enforced through various methods such as garnishee orders or bankruptcy proceedings.

Buying or selling a business involves several key legal and commercial considerations, including conducting due diligence to assess the business’s financial health and legal compliance, negotiating the terms of the sale agreement, and transferring ownership of assets and liabilities. It’s essential to seek legal advice to ensure a smooth and legally sound transaction.

Starting a business in Sydney requires fulfilling certain legal requirements, such as registering your business name with ASIC, obtaining an Australian Business Number (ABN) for tax purposes, and complying with any industry-specific licensing and regulatory requirements. You may also need to consider the most appropriate business structure, such as a sole trader, partnership, or company.

Milestone Legal, a leading commercial law firm in Sydney, offers a comprehensive range of legal services to businesses of all sizes. Our experienced commercial lawyers provide expert legal advice, draft and review commercial agreements, assist with dispute resolution, and guide you through the complexities of Australian business law.

To schedule a consultation with a Milestone Legal lawyer please fill out the consultation booking form. We are conveniently located in Lakemba, South West Sydney, and are ready to discuss your business legal needs and explore how we can assist you.