Here are five things we think any BA lawyer ought to be doing in your business:
Your BA lawyer must understand the your business. What are your operations, what is your history, what are your plans for the future? You can help us understand your business by providing this information. Armed with this knowledge your BA lawyer can get down to business.
In our experience, many businesses have a variety of formal and informal arrangements with their employees, partners or shareholders. Unfortunately this can lead to different understandings between the business and the individual (or firm) of the extent and limits of the arrangement. This is a key cause disputes. Your BA lawyer should formalise these relationships in the form of a consistent, legally binding agreements.
This also applies to any agreements your business may have with key suppliers. What might seem simple now can become complex when the relationship dissolves, particularly when there are no legally binding documents in place.
We don’t mean an extra padlock. Rather, we are talking about obtaining professional advice regarding the agreements you have entered into, or will enter into, to secure your business premises. For many of you this may be through a lease. Obtaining solid advice about your rights and obligations is crucial to ensure that one of the most basic foundations of your business – its location, is stable.
Part of what separates you from your competitors is your intellectual property. That is, the creations of your business. Your BA lawyer, as a matter of course, should ensure that your IP, as the lifeblood of your business, is being protected.
Risk and reward underpin our market. Your BA lawyer should conduct a thorough risk review of your business to identify potential sources of future trouble so these can be addressed now. As a result of this process, your BA lawyer should improve the security and resilience of your business.
If you have further questions, please contact frank@franklaw.com.au
This is not legal advice.