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Katherine Hawes
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Business registered a similar name to me
Hi - business registration of a name is not about protecting a name, but rather to assist consumers to identify individuals behind a business name so the purposes of suing them. In order to protect the name you need to trademark or bring an action for passing off. Passing off is using name or symbol to suggest association with a brand or business, when there is not one. Also very similar is not the same as exactly alike. I would suggest that if you which to protect your business name that you investigate trademark.
Katherine Hawes
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Legal obligations as franchisee
Hi - generally there is little room in a franchise agreement to make changes to the method or manner of the operation of the franchise. It may be able to be negotiated with the franchisor. In most cases you will require permission before making any changes. For instance I had one client who set up a facebook page for his franchise not using the corporate colours or style and was made to take it down.
Hi! Your situation is not an unusual one - choosing the right way to structure your business is among the most important a business owner makes. Using a company structure can be advantageous for a successful businesses, particularly for tax purposes. This is because the company tax rate in Australia is 30%. As a partner in a partnership, you are taxed as an individual at the highest marginal rate, which may be more than 30% depending on how much you earn. Therefore, structuring your business as a company can save you a substantial amount of money.
Aside from tax, partnerships can have other disadvantages compared to companies. Perhaps the major disadvantage is that as a partner you are personally jointly and severally liable with your other partners. This means that should the partnership fail, or one of the other partners incurs a personal debt, your personal assets can be accessed by creditors.
A company is different as it is a separate legal entity from the people that own it. This means that as a director of and shareholder in a company you will not be liable for the personal debts of the other shareholders and directors. Moreover, companies are generally “limited liability”, which means that absent any misconduct or guarantees by directors or shareholders, creditors are only able to enforce debts against the assets of the company, plus any money unpaid on shares. As a business owner, this means that you can enter into contracts and borrow money without your personal assets being at risk.
So depending on your circumstances, it may be a good idea to change to a company structure instead. The best thing to do is to get legal advice - this would mean a lawyer would be able to look at your specific situation to help you figure out what would be best.
Katherine Hawes
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How do I bring on a financial partner in my micro social enterprise in SE Asia?
There are a number of factors to be considered - the first is jurisdiction. Is it proposed that the law of a State in Australia will cover the agreement? It is important to ensure that the contract is enforceable and complies with the law of the jurisdiction. The second relates to IP and the third to liability.
Katherine Hawes
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Law Advisor Research Team
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Online startup - Legal bits and pieces required
Hi there. Launching a start up can be a complex process, and it is great that you are seeking some assistance to ensure everything is done properly.
The second part of your question is more complex. There are some problems you should be aware of that may arise with your plan to transfer property to your wife in order to avoid liability to creditors.