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If a creditor is owed at least $2,000 by a company, a creditor has a few options to try and recover the debt. The first is to send a letter of demand (usually from a lawyer). If that doesn’t work, there is another option aside from issuing court proceedings, which is issuing what’s called a “statutory demand”.
One of the most important features of a prospective business is its goodwill, which has sometimes been described as the very ‘sap of life’ of it.
As a potential buyer, what would you do if you bought a business with significant goodwill, only to have the seller open up a competing business nearby and trade off the goodwill of the business that was sold to you? How would you react if the seller used confidential customer lists of the business to peach your customers for their newly-created business? Continue reading
Does a franchisor need a real estate agent’s licence to assist a franchisee to sell their business? Continue reading
Does a business broker need a financial services licence to sell shares in a private company? Continue reading
Confidential business information must be considered and protected in the process of selling a business. A business seller must work closely with their business broker and lawyer to determine what should be disclosed and how it should occur. The seller and business broker should also ensure that they are in fact dealing with whom they think they are; otherwise they might find confidential business information in the hands of a competitor. Continue reading
When selling a business operating from leased premises, what can a seller do to reduce the risk of the lessor refusing its request to consent to the assignment of the lease to the buyer? Continue reading
Whether it is a person receiving unsolicited emails or a business considering email marketing, it is important to understand the situations in which an email could become unsolicited electronic junk mail (i.e. spam). Getting it wrong affects businesses and individuals to varying degrees. For recipients: aside from lost time and productivity in dealing with electronic junk mail, some businesses are forced to purchase blocking and filtering software to deal with the issue. For senders: it can be an expensive exercise if you’re prosecuted for breaking the law. Continue reading
Claims
When a person or a business is owed a debt (more than $2,000) by a company, there are two legal options to escalate the dispute if the debt remains unpaid: issue a creditor’s statutory demand or issue court proceedings. Continue reading
A business’s Intellectual property (IP) can be its most valuable asset. It may be essential to the continued operation of the business. Continue reading
Do I use the PAMD Form 21a – Appointment of Real Estate Agent if I am selling shares in the company that owns a business and not the business itself?