BUSINESS
Loans, Debt Recovery and Insolvency
We have extensive experience in advising on, negotiating and preparing loan agreements, mortgages, charges, investor agreements and terms of trade, and a high rate of positive outcomes in respect of debt recovery proceedings.
Franchising; sale of business
We advise on the establishment of franchises and new businesses, assist franchisees with negotiation and review/due diligence in relation to contracts and sale/purchase transactions.
Partnership Agreements
It pays to get the right help. Expect the unexpected and cater for it – While partners in a new business are optimistic and excited, along with all the issues they expect to deal with, they also need to think about how to resolve any differences or disputes that might arise, and indeed, how to ‘separate’ if desired or necessary, in the most stress-free way.
Too many partnership agreements don’t provide guidance for the parties on how to manage a parting of the ways, which is bound to happen one way or another, even if only through the sad fact of the passing of a partner. Things that need to be decided in advance include the value of a partner’s share, how they will be remunerated on departure, what happens with ‘their’ clients (and of course how it is determined which clients are whose), and what plant and equipment, or other assets, will go with a departing partner.
Another really important aspect of partnership agreements is a dispute resolution mechanism, designed to help partners resolve disputes that might arise, through a fair and equitable process if they are unable to resolve them between themselves. No-one wants to waste their time going to Court if they can help it, particularly given some of the sensitive and confidential matters that a partnership conflict can involve.
Of course, outside of disputes and conflict, there are a number of matters that need to be agreed between partners, such as budgets, marketing and account-keeping processes, performance expectations (and default and remedy provisions to deal with temporary or permanent lack of performance), business targets, roles, responsibilities and accountabilities, recognition and reward, and in some partnerships – ownership of particular assets. …not to mention capital contributions, distribution of profits, sharing of specific categories of tax etc.
It is important to ensure that you have a clear and robust agreement to form the basis of your partnership. For new partnerships there are also associated structures such as insurance and buy/sell agreements that it is very worthwhile to obtain advice on when looking at formalising your partnership arrangement.
E-commerce
We can assist you with all legal issues in respect of your online business and trading, website terms and conditions and compliance review of website content. Contact us to discuss your e-commerce objectives and concerns.
Contact Stenta Legal on +61 3 9820 5122 for advice specific to your proposed partnership arrangement.