NEWS & KNOWLEDGE
Corporate Insolvency for Businesses: Who said you don’t need a corporate secretary?
In challenging economic times, it is not uncommon for businesses of all sizes to find themselves in dire financial straits, which can lead to a company becoming insolvent. While insolvency is not a desirable scenario, some insolvency procedures can be the life raft a drowning company needs to get back on its feet. With this in mind, here are six key things every business owner should know when it comes to corporate insolvency in the UK.
Revealed: The M&A strategy for success
For most business owners, their long-term goal is to expand the business they’ve built, and many turn to mergers and acquisitions (M&A) as a route for fuelling business growth. However, M&A typically entails an intensive upheaval process; the only way to ensure that this upheaval will be worthwhile is by carefully managing the merger or acquisition from the outset, and adopting the right strategy.
What Are the PSC Rules and Do They Impact My Business?
As part of the UK Government’s trust and transparency agenda, the Small Business, Enterprise and Employment Act (SBEE) is now in effect as of April 2016. If your business is a UK incorporated company or limited liability partnership (LLP), this means you’ll be required to set up and maintain a ‘people with significant control’ (PSC) register. This article provides a helpful overview of the new PSC requirements, and briefly explains the steps for compliance.
The Powers of a Liquidator in Corporate Insolvency
Following the 2008 financial crash, there was a stream of news headlines announcing the liquidation of many well-known corporate powerhouses. Yet many business owners may still be unclear on what liquidation actually entails or what the role of a liquidator is. Here, we discuss the circumstances leading to liquidation, as well as the powers of a liquidator.
A Must-Read for Any First-Time Sale or Purchase of a Dental Practice
While buying or selling a dental practice is largely the same as buying or selling any small business, there are a number of additional considerations that come into play for dental practices. Here, we highlight some of the considerations for a first-time buyer or seller of a dental practice, to help both parties prepare for the transaction well in advance.
What Happens When Overseas Parties Acquire a UK Business?
The UK is an increasingly attractive destination for overseas investors seeking lucrative business opportunities. This is largely thanks to the UK’s welcoming business climate and well-established legal precedents for foreign mergers and acquisitions.
Top 10 Questions Asked by Pharmacists on Selling a Pharmacy
Selling a pharmacy is never easy, especially when you’ve built it up and served your patients for many years. So not only do you want the best value for your business when selling, but you also want the best for your patients and staff. With this in mind, our expertise in the pharmacy industry has enabled us to compile and answer a list of the questions most frequently asked by pharmacists when selling their pharmacy business.
What is a Company Secretary and Do I Need One for My Business?
Although it is no longer a legal requirement, many private limited companies still opt to hire a company secretary to perform a number of essential tasks. As providers of company secretarial services, we know firsthand just how valuable this position is to private companies. Here, we give an overview of the responsibilities and importance of this role to help you determine whether your business should hire a company secretary.
What is a Limited Liability Partnership?
When going into business together, many entrepreneurs may not realise the legal implications of forming a partnership. Even if the partnership is not formally registered, by virtue of doing business together, the Partnership Act automatically applies.
You Should Not Sell Your Business Without Considering These 5 Steps
The best way to prepare for the sale of your business is to be well informed: this will allow you to take the necessary steps to get the highest possible sale price for your business. With this in mind, our experienced solicitors have compiled an overview of the key points to consider when preparing to sell your business.
4 ways you can legally protect your tech start-up
Many new entrepreneurs are very secretive of their new business idea. Their thinking is that if they were to share a business idea with others, they risk being copied. This is sometimes an unfounded fear and it is worth understanding how your startup can be legally...
Avoid the Dangers of Dismissing an Employee by Following These 7 Steps
In the unfortunate event that you must dismiss an employee for misconduct or poor performance, there are certain steps and measures to be followed in order to avoid the risk of disputes and litigation.
What should you do if someone is using your copyrighted work?
A commonly asked question is what should I do If you ever come across your work being used by another company or person without your permission. It has become increasingly common, due to ease of access on the internet, that original works are copied by others. Read...
How to Avoid the Risk of Employee Claims when Varying the Terms of an Employment Contract
Employment terms often change over time when employees are promoted or receive a salary increase, for example. There are, however, certain changes to employment terms that employees are less willing to accept, such as pay cuts, changes to working hours, or the addition of new duties. It is therefore important that employers understand how to amend an employment contract with minimal risk of conflict.
Insolvency Doesn’t Have to Mean Insolvency: What does corporate insolvency really mean?
The word ‘insolvency’ carries many frightening connotations for business owners. However, being insolvent does not necessarily mean that your company must close up shop for good. Here, we discuss how to determine whether your company is insolvent, along with some of the main insolvency options that might save your company.
The Hidden Pitfalls of Franchising: Make sure you’re not caught out
At first glance, the appeal of franchising is obvious: for those franchising their business, it may seem like a brilliant way of expanding the business, and for those investing in a franchise, it may appear to be a quick and easy route to success, as the business’s brand and reputation is already established.
What is TUPE?
TUPE is an acronym for the Transfer of Undertakings (Protection of Employees) Regulations, which are designed to protect employees if the business they work for changes ownership or if there is any change in service provisions.
6 Things to Remember When Buying a Dental Practice
Due diligence is of paramount importance when buying any business, but when purchasing a dental practice, there are various additional factors that come into play. Examining each of the elements will help you determine the true value of a practice, comply with the statutory requirements of the UK’s General Dental Council, and ascertain which warranties or indemnities will be needed in your sale and purchase agreement.
Due Diligence in the 21st Century: The value of social media
Due diligence is an integral part of any acquisition, allowing the buyer to thoroughly investigate every facet of a target company in order to ascertain its true worth. Here, we explain why investigating the social media worth of a target company should be a core component of the due diligence process.
5 Things to Get Right When Selling Your Dental Practice
Although due diligence is, generally speaking, intended to protect the buyer, it is equally important for the seller when negotiating the sale of a business, as it can streamline completion of the sale. Here, we give an overview of the areas of due diligence specific to the sale of a dental practice, to prepare you for the enquiries and demands you can expect from a prospective buyer.
4 Tips for When Considering a Management Buy-Out and Whether It’s the Right Strategy for Your Business
A management buy-out (MBO) occurs when a company’s existing management team purchases the company, moving from employees to entrepreneurs. It can be a challenging experience, but with carefully selected advisors and investors, an MBO can result in an acquisition that is successful for the long-term.
4 Exit Strategies and Why It’s Critical for Your Business to Choose the Right One
Although it seems a long way off when you’re starting up, your exit strategy is one of the most important aspects to consider when building your business. A suitable exit strategy must be planned well in advance so that all of the necessary elements, like succession planning and appropriate pension schemes, can be put in place.
How to use your trade mark after registration?
A common question that we get asked is how should a trade mark be used once you have obtained registration. Luckily, there are guidelines available for this, and I’ll summarise them in this post. Imagine a customer looking to buy a new pair of sunglasses. She finds...
The difference between the trade mark symbols ® and ™
Brand owners are often not familiar with the meaning of symbols in relation to their trade marks. The two most commonly-used trade mark symbols, are the letters “TM” in superscript - ™- and the letter R in a circle - “®” - although there are other symbols too, such as...
