The Benefits of a Non-Disclosure Agreement
An enterprise’s confidential information such as trade secrets, processes and key contacts are all valuable assets that should be protected during the course of a business’s commercial operations, negotiations and transactions. One effective tool for safeguarding confidential information is a Non-Disclosure Agreement (NDA). An NDA establishes a legal framework for maintaining confidentiality, instils trust in business relationships, deters breaches, and provides legal recourse in case of a violation. By including key terms such as the definition of confidential information, purpose...
12 Feb 2024 Read MoreDue Diligence when Buying an Existing Business
If you are thinking about a new venture, expanding an existing business or entering a new market, one option you might consider is to buy an established business. There are advantages and disadvantages when buying an existing business compared with starting your own. Considering the pros and cons of each, and carrying out any due diligence beforehand to assess the value, risks, and potential of a target business will help you make an informed decision. An experienced lawyer can help...
12 Feb 2024 Read MoreDismissing an Employee – Key Steps and Processes
Terminating an employee in Australia can have significant legal and financial implications for an employer if not handled correctly. However, employers can mitigate risk by understanding and complying with their legal obligations and approaching employee termination with professionalism. This article discusses the key considerations for employers when contemplating employee termination, with a focus on the Small Business Fair Dismissal Code. Compliance with Contracts and Awards Before dismissing an employee, employers should review all employment contracts, modern awards, or enterprise agreements...
12 Feb 2024 Read MoreSurveillance in the Australian Workplace – is it legal?
In the modern era of advanced technology, the issue of employee surveillance and privacy in the workplace has become increasingly relevant. Workplace surveillance can take various forms, including video surveillance, computer monitoring, telephone monitoring, email monitoring, and GPS tracking. There are certainly legitimate reasons for employers to monitor their employees using these means, such as ensuring productivity, preventing theft, or maintaining cybersecurity. However, in Australia, employee surveillance is subject to legal regulation, and employees have certain rights regarding privacy and...
4 Dec 2023 Read MoreThe importance of estate planning before capacity becomes an issue
We should all plan for our future. Certainly, we should all have a current will, especially those of us who need to make special arrangements for the care of children or pets. Many of us would also benefit from making a formal arrangement to account for a time when we could find ourselves unable to make our own decisions, such as by making an enduring power of attorney or an enduring power of guardianship. However, it is important to understand...
4 Dec 2023 Read MoreHeads of Agreement – key terms and considerations
A “Heads of Agreement” is one of those legal terms that you may come across for the first time and find yourself doing a quick Google search. To make things more confusing, the term is sometimes used interchangeably with terms such as “Letters of Intent” or “Memorandum of Understanding”. So, what do these terms actually mean? Simply put, they refer to a preliminary agreement, a document that is signed before the parties are ready to enter into a final agreement....
4 Dec 2023 Read MoreManaging confidential employee records – duties as an employer
As an employer, you should be aware that you owe your employees obligations in relation to any personal information they have disclosed to you. Information about an employee collected by an employer is considered personal information under the Privacy Act 1988 (Cth) (Privacy Act). What is defined as “personal information”? The Privacy Act defines personal information as: "Information or an opinion about an identified individual, or an individual who is reasonably identifiable: whether the information or opinion is true or not; and whether...
16 Oct 2023 Read MoreJust sign here… ‘silent’ directors beware
If you have been asked to accept a position as a director of a company in which you have little or no involvement, think again. All too often spouses are appointed as a co-director of their partner’s company without understanding their full responsibilities as a director. This is commonly known as a ‘silent director’. While there is no general rule that prohibits this, it is important to understand the duties and obligations that arise if you have been appointed a...
16 Oct 2023 Read MoreIs a testamentary trust right for you?
One of the most loving things that you can do for your family is make plans for what happens after you die. This is particularly important if you have children or vulnerable adults who depend on you financially. A testamentary trust might be the right tool to help you look after those you love. What is a testamentary trust? As the name suggests, a testamentary trust is made under a will and begins at the death of the testator (the...
16 Oct 2023 Read MoreSuccession Planning for Business Owners
As a business owner, you deal with many responsibilities, including having to decide what to do with your business when you move on. Sometimes the logical endgame for a business is to be wound up, but in most cases, the aim is a smooth transition to new ownership. This is particularly important if you plan to either sell the business to finance your next step in life or pass it down to the next generation. In either case, the success...
7 Aug 2023 Read More