Every business needs a Shareholder Agreement to govern the conduct, rights and responsibilities of shareholders and directors of a company. The best time to prepare one is before you need one! This agreement is akin to a pre-nuptial agreement for your business. If all goes well, you’ll never need to take it out of the drawer, however if matters turn south, it’s the first … Continue reading Why every business needs a Shareholder Agreement
If you’re thinking about joining a Board to add to your skill set, build up your CV, give back to the community or join a business, there are some important things you should be aware of before you sign on the dotted line to become a company director. Legal duties apply to all companies. Being on the board of your own company is a very … Continue reading To be, or not to be, a company director
There’s an old adage about the way a duck walks and quacks.. something similar applies to being a company director. When you act like the boss, the law treats you like one. Directors’ duties are legal obligations that apply to all company officers, irrespective of the size or nature of your company, whether or not you are paid to be a director or have even been … Continue reading Directors’ Duties: What You Do Defines You
Congratulations on harnessing your entrepreneurial mojo and making the most exciting decision to start your own business. Having taken the plunge ourselves, we know what it’s like and we’re here to share some tips to help you along your way – some of which are not so ‘lawyery’! Seek advice early First up, speak to your accountant or financial advisor to obtain tailored and strategic … Continue reading Diving into Business: Startup Tips
One of the great things to come out of the global pandemic was the legal industry needing to quickly adapt to the use of rapidly changing technology to streamline many things that were screaming out for a refresh, such the signing of legal documents. Thankfully, electronic signatures are now here to stay. In 2020 temporary amendments were made to the Corporations Act 2001 (Cth) about … Continue reading Sign Here! Electronic Signatures are here to stay
Being a B Corp is a core part of Prisma Legal. Principal Lawyer and Founder, Fotini Kypraios, shares why Prisma Legal pursued certification as well as advice for those considering certification or currently undertaking the process. “B Corps are businesses that meet high standards of social and environmental performance, accountability, and transparency. Certified B Corps, envision a better economic system where businesses can benefit people, … Continue reading Prisma Legal on becoming a BCorp and Tips for certification
We all know the statistics about the pending tsunami of baby boomer founded businesses needing to either transition to the next generation or otherwise find buyers in the coming decade. It’s coming like a freight train. So, how do you get your business ready for your exit? Do you want to literally exit or only hand over operational control? Will you hold on to the … Continue reading Business Succession: Find Your Collaborative Advisory Tribe
For a document to be legally binding, it needs to be validly signed. Certain laws have been amended during the COVID-19 pandemic to provide for electronic signing of documents, including via audio-visual means, however the rules are not consistent and some of these changes have expired. The reality is that we are vulnerable to snap lockdowns, which means we can’t always sign documents in person. … Continue reading Sign Here..
Just after celebrating its 3rd anniversary, Prisma Legal is super proud to announce it has earned B Corp ™ certification, becoming one of only four legal firms in Australia to do so. There are over 3000 B Corp™ globally, from 60 countries and operating in around 150 industries. In Australia and New Zealand there are around 250 B Corps™. B Corp Certification requires a holistic … Continue reading Prisma Legal becomes a B Corp ™
Retail tenants and landlords listen up! Changes to the laws governing retail leases in Victoria came into effect this week that impact you. The Retail Leases Amendment Bill (‘the Bill’) amends key aspects of the Retail Leases Act 2003 (‘RLA’) and Building Act 1993 (‘Building Act’). The below amendments are effective from 1 October 2020, except for those regarding essential safety measures which came into effect … Continue reading Retail Leasing Update