• Commercial & Business Law

    Commercial & Business Law

    We are first and foremost commercial & business lawyers in Melbourne for people.  Our team will work with you to develop, manage and execute your business plan while ensuring you exploit opportunities, manage risks and achieve commercial success.  

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  • Dispute Resolution & Litigation

    Dispute Resolution & Litigation

    We are litigation lawyers in Melbourne specialised in commercial litigation and dispute resolution, we appreciate that resolving a dispute requires more than just following court processes. You can trust Taurus to be in your corner, and fight to deliver results.

     

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  • Property & Conveyancing

    Property & Conveyancing

    Enhanced by a wealth of experience, Taurus’ conveyancing lawyers in Melbourne can assist you with all of your conveyancing needs.

    Whether you are selling or purchasing your dream home, we are experienced in handling the conveyance to ensure the smooth settlement of your property.  We successfully perform all steps of your conveyance from reviewing or drafting the Contract of Sale through to confirming settlement has been completed with your real-estate agent.

    We are passionate about providing exemplary personal service to every client and understand that we are here to assist you during one of your most exciting and stressful transactions. We ensure that all of our clients are provided with regular updates and use our own portal allowing clients to login to view the progress of their transaction at any time.

    The conveyancing lawyers at Taurus are registered with PEXA and experts in their field.

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  • Intellectual Property

    Intellectual Property

    One of the most valuable assets of any business is its intellectual property. We as intellectual property lawyers Melbourne empower our clients to protect their brand, systems and confidential information by offering them a broad range of legal services related to their IP.

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  • Insolvency & Bankruptcy

    Insolvency & Bankruptcy

    We act on behalf of business lawyers, creditors, debtors, and insolvency practitioners in a variety of re-structuring and insolvency matters.

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  • Debt Recovery

    Debt Recovery

    We will recover your debts as if they were our own. For many owners, directors, and managers, debt recovery is one of the most confronting and challenging aspects of running a business. It is also crucial to the cash flow of the business, and therefore critical to its financial success.

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  • Employment Law

    Employment Law

    We help our clients meet the demands and challenges of managing their workforce.

    We have a team of employment solicitors can assist in any employment law matter ranging from drafting employment agreements to giving termination advice and handling unfair dismissal applications.

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ENQUIRE

Business Health Check

Business is about maximising opportunities and controlling risk.

While entrepreneurs often focus on opportunities and mature businesses focus on controlling risk, the two issues are inseparable.

Whether informally or formally, all business owners have a strategy to get the most out of their business and avoid risks. We recommend all business owners take the time to set out that strategy in writing and review it regularly.

This article expands of our video on “business health checks” where we explain how we can assist business owners get more out of their businesses. Below are some tips on the kind of legal risks that should be considered as part of an overall business strategy.

Terms and conditions

The relationship with customers is perhaps the key opportunity and key risk of any business. The process of finding and assessing appropriate customers as well as the terms and conditions of supply are critical.

Businesses should carefully consider who they are selling to, if they will be paid on time and if the margin is appropriate. The terms and conditions of supply should always be in writing and include terms regarding price, payment, default, warranties, cancellation, limitation of liability, recovery costs and legal compliance.

Business structure

However your business is structured, (company, trust, partnership etc), you should have an agreement in place that regulates the relationship between the owners. For example, a company with multiple shareholders should have a written shareholder agreement which includes clauses relating to how decisions are made, how profits are distributed, how a shareholder may be replaced, how shares should be valued and how any deadlock may be resolved.

Having a written agreement gives the owners alignment and clarity around their role, obligations and entitlements and make it easier to raise capital. In the event of a dispute, the agreement will also provide a roadmap to resolution.

Employment agreements

A key risk of any business is its relationship with its people. The recent media coverage shows the serious consequences of breaking the Fair Work Act 2009 (Cth). But even beyond pay and entitlements, owners should consider how important information such as customer or product information are protected. Similarly, the employment contract should prevent employees from taking customers with them when they leave the business.

Intellectual property

Often the most valuable asset of a business is its brand. However, many businesses have not registered that brand via a trademark. Registering a business name with ASIC does not stop your competitors from using the same or a similar name. A registered trademark does.

Conclusion

Taurus Legal Management are specialists in business risk assessments. Please do not hesitate to contact any member of the Taurus Legal Management team on (03) 9481 2000 or info@tauruslawyers.com.au.

Posted by Taurus Legal Management