UX Law

28/12/2021

Be worried about the right things at the right time, and enjoy every step of your startup journey.

Be worried about the right things at the right time. I took this photo on an ancient four-prop 30 seat passenger plane in Tonga. It looked a bit like an old DC3 (it wasn’t) with the old-fashioned metal riveted skin and the only other time I’d flown in something like that was in Kenya. Obviously....

27/12/2021

Protecting IP is complex. There is a lot of ground to cover, and a lot is on the line. It is crucial that you get it right from the beginning so that you can confidently hire workers, seek investment and grow rapidly.

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Starting a company is an involved process, and one of the most important steps is to protect your company’s intellectual property (IP).  You can

23/12/2021

The legal advice your startup needs, from a team who understands different levels of startup growth.

Click here to book your free, no-obligation consultation now: https://uxlaw.com.au/schedule-free-consultation

22/12/2021

⚠️ Most Common Legal Mistakes by Startups ⚠️

#13 - Failing to get proper written contracts, drafted by a lawyer

So many startups are built on relationships or friendships that seem rock-solid - and that sets the perfect foundation for fuelling a startup's growth. But as a result, many co-founders fail to implement contracts, systems, and agreements that lay out the rules in the business and provide a dispute resolution process should anything go wrong. As hard it can be to imagine in the beginning, things can go wrong no matter how friendly your relationships are with your co-founders. Take the time to draft contracts early on in your business, and prevent things from coming to a screeching halt should things go awry with your co-founders.

Not sure what kind of contracts you need at this stage of your startup journey? Get in touch with our team for the legal advice you need right now.
👉 Book a free consultation here: https://uxlaw.com.au/schedule-free-consultation/

21/12/2021

A supply agreement outlines the way in which your business buys, sells, or distributes goods to another party. If not drafted effectively, a supply agreement can be complex and your rights may be unprotected, setting you up for potential disputes and issues in the future.

As with most agreements, your supply agreement should be tailored to your unique company's industry, needs, and circumstances. We can create bespoke supply, reseller, and distribution agreements, as well as terms of sale, that are tailored to your interests and clearly state the nature of the goods, payment structure, return mechanisms, warranty clauses, and important protections you may need.

Click here to read more & get started: https://uxlaw.com.au/product/supply-resell-or-distribution-agreement/

20/12/2021

7 legal mistakes startups should avoid, including offering badly set up sweat equity or share option schemes.

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So, you’re the proud owner of a brand-new startup. Whether you’re still bickering over the perfect logo with your co-founders or have just signed your

16/12/2021

Q: What's the difference between a Holding Company and an Operating Company?

A: A holding company holds a company's main assets, for example, the brand and IP, the bulk of the raised capital, real estate and any particularly expensive equipment. The holding company does NOT employ or engage staff, and does NOT enter into contracts with suppliers or customers. On the other hand, the Operating company is usually a subsidiary of the holding company, and runs the day to day business by entering into contracts with suppliers, customers, employees, contractors and so on. The operating company usuallys hold stock and some limited cash reserves, but otherwise it does not own any signficiant assets. This structure is known as a dual company structure. The idea is to create a separation between a business' main assets and the day to day trading, thus protecting the assets.

A dual company structure can offer your business more asset protection, streamlined operations, and more opportunities for growth and development. If you'd like to discuss whether this structure is right for you, and need some help setting it up, speak to our team today. 👉Get in touch here: https://uxlaw.com.au/contact/

15/12/2021

Strong IP protections are one of the main reasons why the USA is the best place to scale a startup globally. In the annual Global Innovation Index conducted by the World Intellectual Property Organisation, the US came in third behind Switzerland and Sweden. It ranked first on intellectual property receipts as a percentage of total trade.

If you're planning on taking your startup to one of the world's biggest markets, it's crucial to ensure you have proper documentation. This not only secures your company's IP rights in the USA, but also shows 'where' that intangible property is held to get the best tax outcomes possible.

We can help you have rock-solid IP protection that's tailored to your startup's needs and growth trajectory. 👉 Read more & book here: https://uxlaw.com.au/product-category/protecting-ip/

14/12/2021

5 questions startups must ask before hiring legal representation, including: "Are they familiar with startups in your stage of growth?"

👉 Read the full article here:

Before you jump in and hire the startup lawyer with the lowest fees, do you know the top legal questions a startup should ask?

13/12/2021

⚠️ Most Common Legal Mistakes by Startups ⚠️

#12 - Improper protection of IP assets.

This is a common legal hazard seen amongst startups, and it can have grave financial repercussions if not dealt with immediately. A unique product or idea must always be protected with a patent, and your brand name, logo, and other assets should be secured with trademarks. Additionally, you must correctly obtain copyrights and authorship to original works like software or advertising content. All of this will help safeguard your company assets from unauthorised usage and prevent others from appropriating your intellectual property.

If you're unsure whether your IP is properly protected, you must take care of it now. We can help you secure bulletproof protection for your intellectual property so your company can scale with peace of mind.
👉 Click here to read more & get started: https://uxlaw.com.au/product-category/protecting-ip/

09/12/2021

Q: What's the difference between a Corporate Trustee and Individual Trustee?

A: A corporate trustee is a registered company that is usually incorporated to act as the trustee of a trust. It must have one or more shareholders and directors appointed to manage the trust and distribute the proceeds to beneficiaries. An individual trustee is a person with title to trust assets who is holding the assets for the beneficiaries. There are advantages and disadvantages to both trustees. A corporate trustee involves more expensive set-up fees and ongoing management, but it can offer greater asset protection in the long run.

Get in touch with us to discuss a trust structure that best suits your needs and circumstances. 👉 Click here to read more & set up your trust now: https://uxlaw.com.au/product/trust-setup/

08/12/2021

As of November 2021, company directors have to apply for a 15-digit identification number as part of the government’s Modernising Business Registers Program.

The Director Identification Number (DIN) is a permanent, unique identifier given to a director, or someone who intends to become one, and used for the remainder of their life, even if they change companies, move overseas, or stop being a director. If you fail to register for a DIN, you are in breach of your director obligations and may be issued with an infringement notice.

Speak to our team for legal advice concerning your director's duties and for more information about the DIN. 👉 Book a free consultation to chat with our lawyers: https://uxlaw.com.au/schedule-free-consultation/