What is a sole trader? A sole trader (or sole proprietorship) is an individual who runs and owns an entire business. The business and the individual are a single entity. You would not be alone in thinking a sole trader is …
Category: Corporate Law
Easy guide to a profit sharing agreement
Business owners commonly collaborate with other businesses to achieve the same purpose. When this occurs, a profit sharing agreement is extremely important, to understand what is expected of all parties. This Legal Kitz article will take you through what a profit …
What is referral selling?
A business receiving referrals can be an effective way to grow and expand its customer base. Therefore, most Australian companies use referral advertisements in order to promote their goods or services. Companies can advertise through many forms of media, including television, …
Trading insolvent in Australia
Trading while insolvent occurs when a company has met the threshold for insolvency and is continuing to trade. Directors can become personally liable for debts incurred by the company, or face worse consequences. Keep reading this Legal Kitz blog to learn …
How do I set aside a statutory demand?
As a director of a corporation, it is imperative you understand what a statutory demand is, and the grounds on which it can be set aside. Read this Legal Kitz blog to find out all about statutory demands. What is a …
What is a partnership tax?
If you have entered into a business partnership or are interested in entering into a partnership, this Legal Kitz blog post will provide you with a basic outline of the advantages and disadvantages of partnership taxes. Setting up a business does …
Chapter 6D Corporations Act
Chapter 6D Corporations Act (the Act) must be followed when generating capital to start a business, as general practice requires that investment offers are made to potential shareholders. Chapter 6D of the Corporations Act provides a general rule that capital cannot …
Contractual repudiation
Contracts act as a means of providing clarity and certainty regarding individual obligations, entered into by parties with the intention of being bound to fulfilling the contract. However, the occasion may arise where a party is unable to fulfil their obligations, …
What is an AGM?
Relevant Australian companies are required to comply with the Corporations Act, which requires companies to host an annual general meeting for their company’s members and stakeholders. It can be confusing to understand what companies are required to hold this meeting and …
Can you make a binding financial agreement after separation?
Some couples entering into a relationship or who are on the breakdown can benefit from making a binding financial agreement. This can be a safe and effective binding agreement to enter, if you are deciding to protect your assets from future …