People With Significant Control

Company changes in force 6 April 2016 From 6 April 2016, companies will have to maintain a register of ‘People with Significant Control’ (PSC). The press release from the Department of Business and Skills states: ‘The PSC register will include information about the individuals who own or control companies including their name, month and year Read More …

Company Law Advice – Director Conflicts of Interest

The UK Companies Act 2006 (section 175), imposes on directors a duty to promote the success of the company, which encompasses the duty to act in good faith and in the best interests of the company. In particular, directors are under a statutory obligation to foster the company’s business relationships with suppliers, customers and others; Read More …

BE PREPARED! DISCLOSURE REQUIREMENTS EXTENDED TO PEOPLE WITH SIGNIFICANT CONTROL

Be warned – UK and EU Company Disclosure Requirements Are Changing! PSC Register – People With Significant Control From 6 April 2016, the majority of UK companies and LLPs will be required to maintain a register of “people with significant control”. Who is a person with significant control (PSC)? A PSC is an individual (or Read More …

Business and Company Sales – Warranties and Indemnities

THIS ARTICLE WAS ORIGINALLY PUBLISHED IN THE SEPTEMBER QUARTER EDITION OF THE CHAMBER OF COMMERCE MAGAZINE In business and company sales, Warranties and Indemnities are ways of reallocating risk between sellers and buyers. “Caveat Emptor” (“buyer beware”) in English law means that generally buyers lack protection. Buyers may seek warranty and indemnity protection while sellers Read More …

The 6 Most Common Mistakes When Selling Your Business

1. Be Decisive Once you decide to sell or retire, don’t look back. Plan what you want or need from a sale and get on with it. I am a big believer that a wrong decision is better than indecision. 2. Due Diligence or lack thereof! This applies more to the buy side (i.e. Know Read More …

Biz Tip #11: Handle Data With Care

If you handle personal information about individuals, you will need to make sure your business fully complies with its obligations under current data protection legislation. Jonathan Abrams is a Commercial Lawyer at Gregory Abrams Davidson LLP. You can contact him or our Property Department at jabrams@gadllp.co.uk or +44 (0)20 7979 2066.

Biz Tip #10: Try Keep Your Customers Satisfied

When responding to a customer complaint, my advice is to stop the problem before it gets worse. Take swift action. Jonathan Abrams is a Commercial Lawyer at Gregory Abrams Davidson LLP. You can contact him or our Property Department at jabrams@gadllp.co.uk or +44 (0)20 7979 2066.

Biz Tip #9: Avoid Personal Guarantees

If you can help it, try to avoid putting your own neck on the line by personally guaranteeing business debts. Jonathan Abrams is a Commercial Lawyer at Gregory Abrams Davidson LLP. You can contact him or our Property Department at jabrams@gadllp.co.uk or +44 (0)20 7979 2066.

Biz Tip #8: Premises

A fancy office is no fast track to success and you should think long and hard before wasting valuable start-up funds on leasing expensive premises. Serviced or “virtual” offices can be just as effective, with lower costs, month-to-month contracts and no or low break fees and depending on your business, your own home may be Read More …

Biz Tip #7: Marketing and Advertising

The underlying theme with all advertising is to make sure it isn’t misleading or advertising anything illegal or illicit.  In addition, when creating an advert, make sure there is no association between your brand and a trademark that is not owned by you.   Fine print is key, as it includes specific details about who Read More …