Starting A Business

 

YOU ARE NOT ALONE – WE CAN HELP

You want to start a business but have a small cash fund and don’t know all the legal aspects that you need. Etienne Lawyers are here to help and be a partner with you in your new business. You will need guidance and support and we are here to give it to you.

You want to spend your precious cash on premises, fit outs, marketing and stock not legal fees. Keep reading because we have a proposal that will not drain your cash but help you build a strong foundation for you business. When a building is constructed it will only stand strong if its foundations are solid, the same can be said for your business. Legal documents and setup are the foundation for a strong business in the future. You want and need to ensure that you and your business is protected for the future from unscrupulous people. Etienne Lawyers will make sure that you have all the documents and protection your new business needs. Your new business needs to be protected and cared for as you would a new baby.

What documents might you need for your new business:Starting a Business Package

  • Terms and conditions of trade for your business;
  • Credit Application;
  • Charge documentation for money you may lend to the entity that conducts the business;
  • Employment agreements;
  • Consultancy agreements;
  • Advice on real property leases;
  • Advice on equipment and finance leases;
  • Establishment of a family trust
  • Incorporation of a company
  • Trade mark application for any trade marks of the business;
  • Documentation effecting a sale of an existing business to a company; and or
  • Shareholders agreement

 

You will only have to pay our professional fees 18 months after you first engage us or upon the sale or amalgamation of the business if that occurs earlier.

You have two options of how to pay our charges:

Option 1

You will be provided with a scope of work upon securing a general security agreement over the business. No payment will be required until 18 months after you first engage us. Interest wilstarting a business Call to action boxl accrue on our fees at the reate of 12% per annum and you will pay the fees after 18 months at the minimum rate of $1,000.00 per month until the charges with interest are paid in full.

Option 2

We will receive a redeemable preference share in you company with the following rights and entitlements:

1. the right to receive 7.5% of profits of the business each year;

2. the right to receive upon the sale of the business 7.5% of the purchase price of the business;

3. the company will have the right at any time to redeem the redeemable preference share by paying to us our fees plus interest accrued and capitalized at the rate of 10% per annum. Any payments made by way of profit distribution will not be set off from the amount payable upon a redemption of the redeemable preference share. For example: If the fees are $15,000.00 and $5,000.00 has been paid by way of dividend under the redeemable preference share, then to redeem the share the $15,000.00 plus interest must be paid.

The actual amount you will have to pay for our fees will depend upon the exact time spent in relation to your matter. We estimate that our fees (together with disbursements, counsel’s fees and other charges that we will incur on your behalf) for completing the work described above will total approximately $15,000.00.

If you have any questions about our partnership plan for your new business please feel free to contact us 1300 882 032.

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