Dynamic Business revisits a highly interesting topic on how verbal promises become legally binding, what that looks like and when it becomes “official.” In 2013, Lachlan McKnight gave us his expertise on the matter, helping small business owners understand where that line is. Lachlan is the CEO of LegalVision. He co-founded LegalVision in 2012 with […]
In Sydney, businesses that utilise a co-working space instead of entering a traditional office lease could reap savings of around 25%, according to Hub Australia. The co-working space provider compared a typical commercial lease in Sydney CBD with its Hub Hyde Park co-working space, set to open in early 2018. The comparison took into account […]
The Australian Competition & Consumer Commission (ACCC) says its only at the ‘tip of the iceberg’ in terms of its efforts to ensure small businesses are not subject to unfair contract terms. Since 12 November last year, when unfair contract terms laws were extended to small business contracts, the ACCC has taken successful court action […]
When small businesses engage with large enterprises, standard form contracts often leave them with no room to negotiate. Small businesses are left with the choice of either accepting terms heavily weighted against them, or terminating a deal that would be valuable for their business. To protect small businesses from backing into a corner, the unfair […]
No business operates in complete isolation. Agreements must be made between your business and its customers, as well as with other businesses such as suppliers and distributors. So how do businesses enforce their agreements? The answer is through the formation of legally binding contracts. Unfortunately, many businesses get caught out with unenforceable contracts and, in turn, […]
The Federal Government’s commitment to open up ICT contracts to ‘smaller players’ has received support from within the start-up community. Yesterday, Assistant Minister for Digital Transformation Angus Taylor called on the tech sector to submit feedback to the Commonwealth’s ICT Procurement Taskforce on how to make government contracts more accessible to start-ups and SMEs. […]
Reasons a business enter into contract typically include commercial gain. If a signed contract is returned incomplete or late – or worse, a signature has been forged – it could end up costing some or all of the parties involved. According to Brad Newton, vice president of DocuSign ANZ, businesses can avoid these types of […]
As your start-up begins to grow and take on more staff, you’ll likely run into a few challenges. It’s much easier to keep everyone ‘on the same page’ when there’s only a handful of people in the business. When your workforce balloons to 20, 100 or more staff, that’s when issues emerge. Due to numerous factors, including background, work history, education and personality, each of […]
For small business owners, the intrigue of taking their products and services off shore can be too exciting to ignore. But among all the hype that international business can bring, there are still numerous risks to assess and manage if you decide international trade is right for you. Perhaps the most important area to consider […]
