Category Archives for "Startup"

Taking up your former employer’s business opportunities after resigning

By Vivian Michael | Startup

Photo by Azamat Zhanisov on UnsplashYou’ll likely have access to business connections and opportunities after working with a company for some time, especially as a director with access to key information. So should you make use the contacts and opportunities? Here’s what you need to know based on a court decision. The case  we’re going to look at is Southern Real […]

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Director pay at an Australian startup company

By Vivian Michael | Startup

Photo by Mimi Thian on Unsplash If you are starting up in Australia, here’s what you need to know about director pay. First, the corporations Act 2001 applies to Australian companies. However, it does not prescribe director’s fees.  Rather, there’s a replaceable rule (non mandatory rule) about director pay – it’s in section 202A of the Corporations Act 2001 and here’s […]

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The difference between legal information and legal advice

By Vivian Michael | Startup , Startup Contracts

Photo by rawpixel on UnsplashSo you’ve probably seen a few disclaimers that read like this ‘legal information, not a substitute for legal advice’. We use a disclaimer like this ourselves on our downloads. This post will help you know the difference between legal information and advice and the importance of the difference.Legal informationLegal information is generic. It explains a […]

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4 things to know before you accept an Australian director position

By Vivian Michael | Business Structures , Startup

What does it mean to be a company director? we’ll take you through what should know about the key duties before you accept a director position. A company is operated by directors and secretaries. Both have obligations under Australian legislation.  Limited liability, the ability to allocate shares to investors and a favourable tax regime are all perks […]

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How to use a founders agreement at your startup

By Vivian Michael | Startup , Startup Contracts

Your founders agreement describes how you and other founders will work together to launch and grow your startup. So what’s the benefit of a founder’s agreement ? For one, you can set clear expectations and minimise disputes. We’ll go through some other’s too. Why should I choose a founders agreement over an employment agreement ?Firstly, unlike an employment agreement, all […]

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