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Welcome to our June collection of articles and ideas for clever business owners and operators.

In this month's edition we discuss the importance of moral clauses in your contracts, we give you some advice around the intellectual property of your business in sale negotiations and outline why unreasonable standard terms and conditions might be a risk to your business. 

Moral Clauses

Many celebrities have taken to social media sites, such as Twitter or Facebook, to post their own opinions about topical events in our society, such as the #MeToo movement. Whilst public debate is always encouraged, for a Studio who has contractually engaged a Talent, these opinions can sometimes be a minefield. Even the most harmless of comments, could be a recipe for a disaster.

Read our full blog post here

Accounting for IP in a Sale of Business: Know what you’re giving away (and charge for it!)

Gaining a thorough understanding of what your business is worth is a tricky process. Regardless of past investments and future potential, ultimately it will only be worth what somebody is (currently) willing to pay for it. Too often however, in formulating a sale price, many business owners will neglect to take proper account of (or superficially appraise) the intellectual property (IP) owned by the business which will pass to the new owner as part of a sale.

Find out more here

All care and no responsibility: Why unreasonable standard terms contracts might be a risk to your business

Historically, many businesses have sought to use their standard Terms and Conditions of trade (typically attached to an invoice or quote) to completely shield themselves from responsibility by incorporating clauses which heavily favour their own interests at the disadvantage of their customers or suppliers. The common logic for such an approach was that “if things go pear shaped, we’re covered”.

However, the old ways of requiring prospective clients to sign over their soul or sacrifice their first born child in such documents have been slowly changing. Following new unfair contracts laws introduced in late 2016, a spotlight has since been cast on such practices.

Read our full article here

We’ve hit the five year milestone!

May 23rd marked five years for Rankin Business Lawyers. A big thank you to our clients, friends and referral partners for your continued support. It has been vital to our growth and success. Here’s to many more to come.

Thanks again for reading. If you have any queries or would like to discuss any legal issues please don’t hesitate to contact me directly. 

Yours sincerely,
Rob Roy Rankin

p: +61 422 736 206   l    f: +61 3 9923 6970
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