If you’re a Small Business owner this legal guide is for you.
Small business owners are the unsung heroes of the economy. Working long hours, not settling for corporate jobs, employing others who depend on them for their income. Plus they have to do everything – there’s no corporate IT or HR department to call to bail the small business owner out!
Legal issues faced by Small Business
In addition to the day-to-day running of their business, small business owners need to be on top of a number of legal issues, including:
- Making sure you get paid and collect any outstanding debts
- How to hire contractors or offer your services with confidence
- How to keep your ideas confidential when talking with potential investors and contractors
- Giving your Power of Attorney to a trusted friend or family member
- Having an up-to-date Will to ensure your business asset is protected
- Protecting your business or brand name from being copied
How to be prepared for these legal issues
Here at Legal123 we’ve put together a set of small business agreement templates that you can use to get on top of these issues (and mitigate downside risks as much as possible). The templates for Small Business owners include:
Letter of Demand – Used to collect an outstanding debt, an essential for every Small Business. It encourages a debtor to pay their bill but avoids chasing money owed through the courts or the cost of lawyers and debt collection agencies.
Confidentiality Agreement – Protecting your business ideas is important, whether you’re discussing them with investors, contractors or suppliers. This package includes 3 templates (quick to full agreement) for different levels of protection.
Contractor Agreement – The package includes 2 versions of this template: one for business owners hiring specialist contractors and one for contractors or consultants specifying the services they provide with clients.
Power of Attorney Form – A very useful document. It authorises someone else to act on your behalf. For example, you can have financial documents signed while you’re travelling or have a share portfolio managed by a professional on your behalf.
Getting Online – If your Small Business is not online yet or maybe it’s time to get serious about your website, we can help. Check out our templates for hiring specialist contractors, getting legal notices for your website, terms and conditions templates, reviewing your website, etc.
Will Kit – Small business owners are often so busy they forget this most basic protection. Usually your business is the most valuable asset you and your family own. Make sure you have a Will that protects its value for your family.
Trademark Registration Service – Protecting your business or brand name is one of the most important things you need to do. Unfortunately having a “Pty Ltd” company is not enough – you need to register it as a Trademark with IP Australia.