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Michael Iatsukha, London (2026)

25/02/2022

What about liquidated damages after the contract has terminated?

Yes, even if the contract has already been terminated, there are chances that the other party may claim liquidated damages.

Service providers, as well as suppliers, have to keep an eye on this point in the contract.

What do you need to know?

▫️ Liquidated damages compensate a party for the other’s breach of contract.

▫️ Liquidated damages and early termination fees are two different things. Early termination fees do not imply any damages to the other party.

▫️The amount of liquidated damages has to be agreed in advance.

▫️ Liquidated damages are only paid in the case where the damage can be proved.

All of the above, including the early termination fees, has to be clearly thought out before you hand the contact to the other party, otherwise, you can end up losing.

How about you? Have you ever encountered a situation where any of these could be applicable?

04/02/2022

Top legal accounts to follow on Instagram

Here are some inspiring legal Instagram pages to follow for you. You can find plenty of useful and fun content that will help you understand the legal industry better.

It’s absolutely exciting to see stories and posts by the Supreme Court and to have a glimpse into what happens behind the scenes.

Legal cheek is a must for anyone who is interested in law and wants to receive all the latest news in the sphere, as well as entertaining content.

A registered charity and a great inspiring page. Here you can find anything from important advice to legal humour.

Follow Sterling Law page to get helpful advice if you are planning to relocate to the UK or seek help for your business

31/01/2022

What should you do if someone hacked your crypto account?

If you have a crypto exchange account, make sure to keep an eye on it. These days accounts are hacked surprisingly often.

Not in every case, you are able to recover your money, but in some you are.

So here are some steps you should if your account was hacked:

Report to the police and claim a crime reference number.

Change your login details, if you can. Try to use two-factor authentication in the future.

Send a notification to a provider, let them know about the fraud.

Call your bank and give them information about what happened.

You can fight them in the court but before considering, keep in mind that it’s only worth it in case your investments were over £15-20 (the court fees are pretty high).

There is still a slight chance that you will be able to get your money back. If you are not sure about what to do, consult with an experienced lawyer, who will offer you a great solution.

25/01/2022

Can your change your company name and how

Sometimes you would need/want your company name changed. A lot of entrepreneurs wonder if it’s actually possible?

The answer is: Yes! Here is what you need to do:

Choose a new name, preliminary checking if it’s free to use and is good to go
You can change your company name by a special resolution of the shareholders, which is a shareholder resolution passed by a majority of 75% or more; or by other means (if any) provided in a company’s articles of association.

In the first case, you will need to call a board meeting to authorise proposing a special resolution or as a written resolution. The company must file a copy of it at Companies House within 15 days of the resolution together with a form NM01 and payment of the requisite fee. The name is effective once the Registrar of Companies issues a new certificate of incorporation on change of name.

In the second case, the process depends on the conditions stated in the articles of association. Once it’s done you will need to notify Companies House in form NM04 together with the payment of the requisite fee.

21/01/2022

Top legal mistakes all new businesses make

As a startup, you always have a chance of making a mistake that can cost you a lot of money and a lot of pain in the future. Let’s see the most common ones:

▫️Not being clear enough with Co-Founders (setting the conditions, splitting the equity, allocating roles)

▫️Choosing a wrong company type

▫️Picking a name for your company that has issues (hard to register a good domain or inability to get a trademark)

▫️Not making a contract in the beginning (especially if you are a provider of services)

▫️Not fully complying with GDPR rules

And many others… Although, a lot of these are common sense, but before registering a company it’s definitely worth getting legal advice to ensure that you don’t miss any important detail.

06/01/2022

WHY DOES AN E-COMMERCE BUSINESS NEED LEGAL ADVICE?

Although setting up a business is easier than ever, there are some nuances that may seem a little unclear at first.

Here is why:

▫️ By not complying with GDPR, you may risk facing a fine of up to €20 million, or 4 percent of worldwide turnover for the preceding financial year

▫️ Customer service - here is where you 100% will have some issues and complaints, so it’s definitely worth being prepared by drafting detailed Terms and Conditions before you start

▫️ If you are going global, you will have to consider the laws of other countries as well and adopt your legal documents accordingly.

▫️ Keeping an eye on the “law of the internet” is essential when you run an e-commerce, some new regulations evolve regularly.

▫️ What about you? Do you have any questions about building an e-commerce business in the UK?

03/01/2022

WHY CHOOSE A LEGAL FIRM INSTEAD OF A FREELANCER?

These days you can find plenty of different option of legal support up to your budget and tailored to your request.

Tons of freelancers offer their services on different websites, such as upwork. Although their prices may seem delightful it’s always better to hire a registered company that offers professional help and here is why:

Most firms tend to offer high quality services, because they hire professionals who are adept in the specific area
You can get a broader outlook on your case because law firms offer various services comparing to freelancers
It’s all about trust, most firms have a strong portfolio that took them years to develop
It will take less time to finish your paper work and get your case ready
Law firms offer you the benefit of having different partnerships and contacts that they can suggest in case you need any other services

They are obviously way more benefits of having a professional firm help you instead of a freelancer, although the most important thing here is to find those specialists that you can definitely trust and will partner with for years to go 🤗

30/12/2021

КАК ПЕРЕНЕСТИ СВОЙ БИЗНЕС В ВЕЛИКОБРИТАНИЮ?

Достаточно актуальный вопрос на сегодняшний день. Ведь перенос бизнеса это не только возможность получить развитие на Британском рынке, но и визу, дающую вид на жительство, в случае если у вас стартап. Тут все преимущества.

В первую очередь вам стоит позаботиться и выяснить какие варианты вам подходят. Хотели бы вы полноценный переезд или же просто открыть юридическое лицо в Великобритании. Для визы инноватора нужно иметь доступ к сумме от £50 тыс ну и здесь конечно множество других нюансов, которые стоит уточнить специалистов, чтобы вам помогли закрыть именно ваш кейс.

Далее вам необходимо ознакомиться с типами компаний, информацию об этом можно с легкостью найти на сайте gov.uk, где вы и будете регистрировать свою компанию. Вам будут предложены разные опции, в том числе и открытие branch (дочерней компании) на территории Соединённого Королевства. Выбор опять же должен быть сделан на основе индивидуальных параметров.

Далее необходимо подумать об открытии счета компании и ознакомиться системой налогообложения в Великобритании.

Gov UK достаточно подробно объясняет как можно начать свой бизнес или создать филиал на территории Королевства, однако стоит отметить, что здесь достаточно большое количество деталей, которые можно ненароком упустить из вида и стоит очень основательно подойти к вопросу.

Но главное это возможности, которые открывает для вас подобный сильный шаг 💪

27/12/2021

5 FACT YOU HAVEN’T HEARD ABOUT LAW

Well probably… just some fun things that will expand your knowledge about the law.

▫️ Anyone over 10 years old can be charged with a crime.

▫️ Because of cuts to legal aids, 1 in 4 families have no legal support.

▫️ Husband and wife alone cannot be guilty of a conspiracy (a husband and wife cannot – in law – conspire alone. There has to be a third party).

▫️ A barrister has both a duty to their client and a corresponding duty to the court.

▫️ In case parents get separated, there is no presumption that the child has to live with one or another. It’s up to the court to decide.

Did you know that? Do you have anything to add to this list?

Picture credits: Sterling Law website

27/12/2021

5 FACT YOU HAVEN’T HEARD ABOUT LAW

Well probably… just some fun things that will expand your knowledge about the law.

▫️ Anyone over 10 years old can be charged with a crime.

▫️ Because of cuts to legal aids, 1 in 4 families have no legal support.

▫️ Husband and wife alone cannot be guilty of a conspiracy (a husband and wife cannot – in law – conspire alone. There has to be a third party).

▫️ A barrister has both a duty to their client and a corresponding duty to the court.

▫️ In case parents get separated, there is no presumption that the child has to live with one or another. It’s up to the court to decide.

Did you know that? Do you have anything to add to this list?

25/12/2021

MERRY CHRISTMAS!

Hope all of you are having amazing time and festive feeling ✨

🎄

Michael Iatsukha

25/02/2022

04/02/2022

31/01/2022

25/01/2022

21/01/2022

06/01/2022

03/01/2022

30/12/2021

27/12/2021

27/12/2021

25/12/2021

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