Grauf O'brien Lawyers in Brisbane City | Bankruptcy lawyer

Grauf O'brien Lawyers

Locality: Brisbane City

Phone: +61 7 3085 5696

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• Bankruptcy lawyer

25.01.2022 When starting your business the last thing you want to think about is the eXit, that is how you are going to close down the business. There are several reasons why you may choose to close your business, whether its for financial reasons, person circumstances, retirement, or just moving on to different things. Your options may include selling your business, closing it down completely or bringing on a director and stepping back from the day-to-day operations. Each of these opt...ions have their own considerations and therefore should be discussed with a professional before starting the process to make sure they are right for you. For example, if you are having financial issues and would like to close down your business you will need to consider any outstanding debts and avoid phoenixing activity. A commercial solicitor with insolvency background can assist in this circumstance. If you are considering selling your business it may be worth having a broker assist to ensure a smooth and often faster process, plus they have connections with solicitors to assist with the sale of business contract. In all situations, you will need to consider making customers and suppliers aware of the exit, notify employees and contractors, consider what you will do with leasing arrangements, what you will do with business assets and equipment, keeping records and finalising tax and legal obligations. See more

25.01.2022 Registering your business is paramount to your start-up! Things you will need to register include an ABN, your Business Name (unless trading under your own name or company name), and Tax File Number (TFN). Some other considerations are GST, which you will need if your business turns over or is expected to turn over $75K or more, permits or licences specific to your business or industry which can be found on the ABLIS website, and PAYG if employing staff.

24.01.2022 USP or Unique Selling Proposition is what differentiates you, your business and your product or service from others in the market. This can include cost, quality or a one-of-a-kind product or service. To ensure that you have a USP you will need to do market research and due diligence. Not only does doing this ensure that you are in fact filling a gap in the market, it also protects you from legal ramifications. For example, part of your due diligence should include researching trademarks and patents to ensure that you are not copying another idea and then applying to protect your IP if you so wish.

23.01.2022 This week we take a look at some of the most common Insurances for businesses. In some industries, Professional Indemnity Insurance is compulsory, so it is important to find out if this applies to your business before undertaking any business activity. This insurance is useful for service based industries as it may cover you for litigation if, for example, incorrect advice is given. Public and Products Liability (again, may be compulsory in some industries) may cover you for ...personal injury claims and property damage resulting from goods supplied or sold by your business or suffered at your premises. Workers Compensation is a requirement for all businesses that hire staff and covers both you and your staff for any injuries or illnesses that occur at work. (Please note that this is very broad information and each business and structure will require different types and amounts of insurance. You really do need to get specific advice on your insurance needs.)

23.01.2022 Max Brenner is now under voluntary administration, with around 600 jobs on the line. Time will tell whether a formal restructure, including approximately $50mil owed to lenders, can turn the business around.

22.01.2022 Thanks for the kind words Dustin. Pleased to have been able to take part.

20.01.2022 Keep your data safe! If you are collecting personal information from your customers or subscribers, then you need to consider whether you have obligations under the Australian Privacy Principles and also, if you are trading to a European market, the General Data Protection Regulation. Both regulatory frameworks require certain security processes to be implemented and complied with.

20.01.2022 Great to get another sale across the line with Dustin.

20.01.2022 Hobby vs Business? A hobby is defined as a leisure activity undertaken in your free time and is for your own pleasure. A hobby does not make a profit, however you can sell what you make for the cost of your materials. A business on the other hand is undertaken with the goal of making a profit. It is important to know whether you are undertaking a hobby or a business as there are certain legal, financial and insurance obligations you must meet if you are in fact undertaking a business. This handy tool (https://start.business.gov.au/) can help you work it out or speak to your lawyer or accountant.

18.01.2022 Having a business idea is very exciting and you will want to tell anyone who will listen about this great idea you have. But you must do this cautiously as not everyone listening will want to celebrate and support you, they may in fact like your idea so much that they use it themselves! An important legal document that can assist with these situations is a Non-Disclosure Agreement (NDA). A correctly drafted and signed NDA helps protect your confidential information by providing terms regarding how information is shared, including not disclosing information to another party without prior consent. An NDA is useful in situations such as partnership discussions, product licensing, product and prototype manufacturing, hiring staff or contractors and investor negotiations.

18.01.2022 Thanks Dustin, great working with you to knock this transaction over in 20 days from the date of contract.

17.01.2022 When creating a website we often think about how we want it presented and what content we want to share with our audience, but another important consideration is website legals. We arent just talking about privacy policy and terms and conditions here. Whilst these are important to include when collecting personal information and to notify your website visitors of how they are able to use your website, other things to consider include not providing false or misleading statements, copyrighting under the Copyright Act 1968 and disclaimers.

17.01.2022 Marketing know your legal obligations! With Facebook and Instagram and an array of social media marketing tools, it is very easy to market your business without many restrictions. However, it is very important that you know your legal obligations as there are laws in place that dictate what you can advertise and how you can market your business. Without going into too much detail (because there is A LOT to be mindful of!) here are some important considerations which are gov...erned by legislation and regulation. False and Misleading Conduct Bait Advertising Social Media (make public that influencers are being paid for comment) Competitions Online Reviews Signage (you may require public liability insurance) Direct Marketing Telemarketing and the Do Not Call Register Spam Privacy Brochures and Posters (especially when placed on public or private property i.e. vehicles or power poles). Pricing (must be displayed clearly and correctly) IP and Trade Mark Laws International Regulations and GDPR Before starting any marketing campaign make sure you do your research about what is required from you in order to protect yourself, your business and your brand!

15.01.2022 Round 4 is now open for the Small Business Entrepreneur Grant. Check out this article we shared regarding grant applications and for more information on the eligibility criteria go to https://www.business.qld.gov.au//grants/entrepreneur-grants

13.01.2022 Increased penalties for businesses that breach Australian Consumer Law.

13.01.2022 Interesting decision reached by the Australian Federal Court regarding casual employment. The court has held that simply offering better terms than the Fair Work Act requires may not in itself absolve the employer of obligations it would otherwise have under the legislation.

13.01.2022 Myth: If there is no copyright notice the work is not covered by copyright. Fact: Both written and artistic work do not require a copyright notice to be afforded protection under copyright law as copyright automatically applies from the time the work is created. #MythBustingMonday #copyright #protection

12.01.2022 For our Queensland clients we are going to discuss the Queensland Industrial Relations Commission (QIRC), however, for our clients in other states there are similar Industrial Relations Commissions that you should be aware of. The QIRC aims to support economic success and social fairness. It does this by having jurisdiction under the following Acts: - Industrial Relations Act 2016 - Workers Compensation and Rehabilitation Act 2003 - Anti-Discrimination Act 1991... - Further Education and Training Act 2014 - Trading (Allowable Hours) Act 1990 - Public Service Act 2008 - Contract Cleaning Industry (Portable Long Service Leave) Act 2005 - Public Interest Disclosure Act 2010 - Work Health and Safety Act 2011 - Child Employment Act 2006 - Magistrates Courts Act 1921 (for breach of contract of employment) - Local Government Act 1993 It is important that you are aware of how each of the above Acts affect your business so that you can operate your business accordingly to avoid run ins with the QIRC. For further information check out www.qirc.qld.gov.au or your relevant Industrial Relations Commission website for your state.

09.01.2022 Today is #WaltDisneyDay, a day for disney fans to remember a brilliant man. But did you know that in 1923 Disney was left bankrupt. Then five years later Mickey Mouse was born, and 90 years on we are still reminded of this man and his legacy!

09.01.2022 #Staturday: A recent Startup Muster study found that 20.8% of start-ups are from Queensland. Second only to New South Wales that has 44% of start-ups.

08.01.2022 Viability is probably one of, if not, the most important considerations when starting up a business. Before you start your business you should assess its ability to survive long-term. This means researching the market to ensure there are customers willing to pay for your products and services, and considering how much the business will cost you to start up, grow and maintain. This will determine the businesses potential profit making to ensure that it is commercially and financially viable. When a business is no longer viable it can lead to insolvency.

07.01.2022 Before starting your business you will need to decide which structure is best suited to you. While there are a lot of considerations and it is often best to speak with an accountant and lawyer before deciding, here is a quick overview of each structure. Sole Trader: you own and operate the business under your personal name which is inexpensive and easy to manage, however it does mean that your personal assets are vulnerable if things go wrong. Company: this is a separate lega...l entity and therefore the risk is limited to the owners shares in the business and has the benefit of a lower tax rate. However, it does come with more obligations and expenses. Partnership: two or more people running a business together who share the profits and liabilities which is why its imperative to have a partnership agreement professionally drawn up. Trust: involves a trustee holding the assets of the business for the beneficiaries and distributes business profit to the beneficiaries. This is not a simple structure to set up and has ongoing costs, however it can have significant tax benefits. It is important to have a trust explained to you and set up by a professional to maximise these benefits.

07.01.2022 Often in business disputes arise between consumers and businesses, large or small. Often there is a power disparity between the complainant and the other party. Imagine trying to take on a bank yourself. Going to court can be very costly, but fortunately in Australia there are several industry Ombudsmans which can investigate and help resolve issues. The ACCC is a good place to start when deciding on how to resolve a dispute, as that website has links to the various industry regulators, ombudsman, and similar avenues of complaint for disgruntled consumers.

07.01.2022 #TestimonialTuesday: Thank you to a very valued client for the kind words! We might have to hire you as our marketing manager for coming up with the phrase "GO-to Lawyers"

06.01.2022 Great to get another F45 sale away with Dustin Slypen at Link Brisbane Business Brokers.

05.01.2022 Example of an Australian retailer being held liable for products imported by them that are non-compliant with Australian standards.

05.01.2022 The Association of Certified Fraud Examiners 2018 Report found that the cost of fraud to organisations worldwide in 2017 was over $9.7 billion! The report also found that fraud is particularly damaging to small businesses as they have less resources to prevent and recover from fraud. This #InternationalFraudAwarenessWeek take a look at your business processes and consider how you can prevent fraud, as it can not only be damaging to your financial investment, but also your business reputation.

04.01.2022 #FactFriday: Last week we discussed Consumer Guarantees under Australian Consumer Law and this often raises the question "Are customers entitled to be reimbursed for the cost of postage when returning a faulty product?" The answer is YES, if a product they have purchased from you is faulty or does not do what it was designed to do, then the customer can return the product and either have a replacement or refund, plus have their postage costs reimbursed.

04.01.2022 Leasing - Commercial vs Retail Shop Lease. A commercial lease is an agreement between a business and a landlord which outlines terms and conditions that both parties must abide. However, more often than not, small businesses will be presented with a Retail Shop Lease. A Retail Shop Lease is governed by state legislation and relates to premises located in either a retail shopping centre or a location used mostly for carrying out a retail business. The purpose of the legislatio...n is to protect retail business operators, and includes general provisions about seeking financial and legal advice. In fact, you are required by law to provide the lessor or landlord with a financial and legal advice report. More about your obligations under the Act can be found at https://www.go-lawyers.com.au//Retail-Shop-Lease---Know-th.

04.01.2022 One way you may consider starting or extending your business is with a Joint Venture (JV). Whilst often confused for one another, a JV is different from a Partnership as the latter is usually on a more permanent and ongoing basis, whereas a JV is entered into for a specific project or goal. In order to have a successful JV you should do your due diligence on the person or business that you are looking at working with. Once you have decided that they are a good fit for your business, you will need to discuss the specific roles and responsibilities of both sides of the JV. Once these have been agreed upon, have a lawyer set these out in an agreement also including the structure, objectives, financial aspects of the relationship, ownership of IP, dispute resolution and an exit strategy.

04.01.2022 As discussed a few weeks back all businesses need to register for a tax file number (TFN). However, there are other Tax registrations you may need to consider. These include, but are not limited to: Goods and services tax (GST): if your turnover is or is anticipated to be $75,000 or more. PAYG Withholding: if you need to withhold tax from payments for employees, directors, contractors or other businesses which do not provide you with an ABN.... It is important that you discuss these with your accountant to ensure that you are registered for the relevant tax registrations for your business.

04.01.2022 "They shall grow not old, as we that are left grow old; Age shall not weary them, nor the years condemn. At the going down of the sun and in the morning We will remember them."

03.01.2022 Today GO Lawyers turns 2! We would like to thank everyone who has supported us along the way, to our wonderful referrers who continue to trust us with their clients, and to our amazing clients who continue to keep coming back and provide us with the feedback we need to keep on growing! Without you all our dream to run a successful small business focused law firm would never have been a reality, so thank you!

02.01.2022 Protecting your Intellectual Property (IP)! IP can include inventions, designs, trade marks or brands. It is important to know the difference so that you can decide which is best suited to your idea if you are going to try to apply for it yourself (although we highly recommend having a IP attorney do it for you as it can work out very tricky and costly when applying by yourself). A patent is a sole right to a device, material, system or process which lasts for a specific du...ration depending on the type of patent. A trade mark is used to identify and differentiate products and services under different classes. A normal or made-up word, phrase, letters or numerals, name, shape or colour, sound or smell and movement, can all be trade marked. If you are considering patenting or trade marking an idea make sure you do not publish your idea until your ownership has been established as this can expose you to potential risks. If you need to discuss it with staff or partners then make sure they sign a non-disclosure agreement first! See more

01.01.2022 #TipTuesday: When juggling the finances of a new business, often people will use a template to create contracts and policies for their business and then have a lawyer review them. This can actually prove more costly then having a lawyer draft the documents from the start as they have to review and make changes as necessary, charging you for their time in the process. Thats why we have created fixed fee documents so that you know what you are paying from the start and you can be assured that the document is covering you and your small business.

01.01.2022 If you are starting up a new business, purchasing an existing business or growing your current business, our blog articles have a lot of information to get you on your way. We cover topics such as leasing, contracts and agreements, business structure, business legals, and conflict management.