While every business sale is different, there are three main parts to the process. An overview of each of the three sections is offered below. Preparation. Structure, and the legal process.
Sometimes referred to as a ‘romalpa clause’ or a ‘reservation of title clause’, a retention of title clause is a clause within a contract that allows a seller to retain the legal title to goods that have been sold and delivered to a buyer
Are company directors are always automatically banned from running another business with the same name? And is there a legal way to sidestep a section 216 ban?
Section 216 Insolvency Act 1986
Launched in February, the Frettens Client Portal has already received praise from a number of clients, who particularly like the user-friendly interface, as well as the security and simplicity of the software.
It’s important! If you are thinking of buying a business or shares in a company, you will want to examine all aspects of it before committing yourself. A comprehensive financial and commercial appraisal Due diligence takes different forms depending...
For many years, legislation and rules have been in place to protect tenant’s deposits. Despite this, many tenants are still unaware of the obligations imposed upon their landlords to protect their deposit. Student tenancies This is especially...
The Partners at Frettens Solicitors were delighted last week to announce the opening of a second office in Ringwood in July 2018. Who will be based at Ringwood? The Ringwood team...
The Partners of Frettens Solicitors are excited to announce that they will be opening a brand new office in the heart of Ringwood in July 2018, making Ringwood a second home for the ever-growing Frettens family. A full service law firm for Ringwood ...
The General Data Protection Regulation (GDPR) comes into force on 25 May 2018. It forms the new standard for control of data, seeking to introduce higher and more stringent regulations upon those whose hold and process personal data. What data does GDPR...
Although being self-employed or operating as a sole trader is the most popular way of running a business in the UK, there could be significant advantages to operating as a limited company instead. Setting yourself up as a sole trader is the simplest way to ...
Your website Terms and Conditions are vital to your business and are also required by law to protect you and your customers. It can be a daunting task trying to decide what you need on your website. What topics should the terms & conditions...
Frettens Solicitors is delighted to report that it has been recognised in specialist areas of 'The Legal 500' again for 2017-18. This marks the eighth year in a row that the firm has been recognised by the independently researched guide to law firms...
There has been much uncertainty due to Brexit on how and if businesses in the UK will be affected by the General Data Protection Regulations, known as GDPR. It has now been confirmed that it will be adopted on 25 May 2018 and organisations must ensure that...
Some of the best-known brands in the UK use a franchise model as their means of expansion, with great success. UK franchising today is extremely diverse, encompasses a multitude of business types and consumer markets and is well-established as a successful...
Frettens Solicitors is delighted to welcome three new members of staff to their Property, Wills & Tax and Commercial Teams. Kym Brooks joins the Conveyancing Team . Kym is a dual qualified solicitor, having qualified in South Africa as an...
Frettens’ Commercial Team guides businesses from a start-up right through to decisions about selling and assist with many things in between. All business owners realise that, on some level, it is vital to protect their business, and most...
Frettens’ Commercial Team guides businesses from a start-up right through to decisions about selling and assist with many things in between. All business owners realise that, on some level, that it is vital to protect their business, and most...
With research showing that the average age of entrepreneurs is declining, there are many issues and challenges faced by entrepreneurs aged under 18 that minors should be aware of. Starting a business at any age can be challenging. Coming up with a good idea...
A trademark battle between Kylie Minogue and Kylie Jenner has been raging for the last year. Kylie Jenner shot to fame in the US reality TV show ‘Keeping Up With the Kardashians’. She has been trying to trademark the name Kylie and register the...
The supermarket Iceland is in a high profile dispute over name rights with the Icelandic government, mounted a legal challenge against the retailer at the European Union Intellectual Property Office. The Icelandic government aims to ''ensure the...
Images are freely available and easily searched using online search engines such as Google images. Given their ease of accessibility many Internet users are forgetting that photos are a type of intellectual property. This means that photos (at all stages of...
As from the end of June this year, companies and LLP’s should be aware of changes to the filing regime at Companies House. The Small Business, Enterprise and Employment Act 2015 came into force on June 30th. From this date companies and LLP’s in...
Bosses are finding it hard to let go of their business. A third of bosses of small businesses are aged over 60 and should start planning their exit strategy well ahead of retirement. Research by an accountancy firm has shown that business owners...
Most businesses own some intellectual property – many without even realising it. It may be designs or flowcharts, manuals which they have created, an invention, a logo or any written work and it’s important to be able to identify and protect it....
Office workers in the UK are spending more time preparing for and attending meetings. Recent research has shown that this may be taking two years out of our entire lives. Meetings are an integral part of business life but depending on how well they are...
Frettens are pleased to announce some recent promotions at the firm. Head of Conveyancing Clare Hallett , is being promoted to Partner. Clare who joined the firm in 2002, trained and qualified at Frettens and has extensive experience in both...
"Any company or organisation that handles or captures customer or employee data must follow the data protection laws or face heavy penalties," emphasises Karen Edwards , Commercial Solicitor. Personal information may be on a server, in a...
Countries all over the world are bringing in legislation to make bribery a criminal offence. The Bribery Act 2010 replaced laws that date from 1889 to 1916 making it the first new anti-bribery law in the UK in a hundred years. Possibly the best known case is...
Every company, large or small, is different and there are many ways to structure the shareholding. Smaller companies in particular often don’t consider their structuring apart from the number of shares to be held by shareholders. If there are likely to...
A recent case in tried in the Technology and Construction Court has highlighted why it is important that professionals draw a firm distinction between offering brief ad hoc advice to friends in a social manner and the more detailed informal opinion and...
The first step if you’re considering starting up or running a small business is to write a business plan. This is not such a daunting prospect as you may think, help is available. An attractive and well thought out business plan is a crucial tool,...
The phrase trademark troll is actually a label coined by the media to describe a person who is actively looking for gaps in trademark protection and who is filling those gaps by registering trade names or aspects of a business’s branding themselves. ...
Mark Zuckerberg made headlines this weekend when he announced that he would be giving 99% of his shares in Facebook to charity over a number of years in the hope of making the world a better place for his newborn daughter. Reports suggest that the...
An elderly gentleman languishes lonely on the moon… what happens next depends whether you are watching the original John Lewis ad or the lower budget Aldi spoof. The two adverts are a great example of the business models of the two companies. One...
Karen Edwards , Solicitor in our Commercial Team has drawn up this quick reference guide to demonstrate the importance and benefit of Shareholders Agreements. Shareholders Agreements are: Contracts between shareholders to govern relationship ...
The new Consumer Rights Act 2015 came into force on 1st October with the aim to make the law surrounding consumer rights clearer and easier to understand. It should also allow the parties to resolve disputes more quickly and with less need to incur...
How do you keep your customers coming back again and again? Look after them well. Customers are the foundation of your business. Give them great service and they will stay loyal. Members of the Federation of Small Businesses (FSB) say that they have...
The country’s worst bosses are to be found in the recruitment industry according to a recent survey by Approved Index. 4 in 10 people say they feel overworked by their boss, and the recruitment sector is the profession where people are most likely...
In the July 2015 budget, Chancellor George Osborne announced changes to the Sunday trading laws in England and Wales. Under current rules large shops are restricted to trading for no longer than six hours. A large shop is defined by one with relevant floor...
Landlords in the West Midlands became the first to operate the pilot scheme to make immigration checks before renting a property. This trial scheme started in December last year and a study conducted by ‘Property Let by Us’ has shown that nine...
It doesn’t matter if you have been running a business for years or are about to start one – it is essential to get some legal protection for it. A non-disclosure agreement will protect your ideas, financial information, copyrights, patents and...
Shopping from your armchair can be a lot more appealing than trawling the high street but how can you make sure you’re not being ripped off? Try and choose a website of a retailer that you know (or one that has been recommended to you by friends). An...
The European Commission published details in May of this year of their plans to modernise and harmonise copyright laws in Europe. This will aim to open up digital opportunities between the 28 EU member states. They are aiming to create a ‘digital...
In January this year the Government announced that they intend to increase the minimum sum due for for creditor bankruptcy petitions from £750 to £5,000. The changes will take place in October of this year. The maximum level of debt for which a...
Frettens are delighted to have joined the Family Business United network. The organisation’s aim is to champion the family business sector, recognise the contribution they make to the global economy and to provide a forum that brings the family...
A simple spelling error by Companies House led to the collapse of a 124 year old family business the High Court has ruled. A single letter ‘s’ was mistakenly left out of an official document. Taylor and Sons Ltd, a five generation family...
Two brothers aged 10 and 8 wrote a song about Peppa Pig and how they had fallen out of love with the cartoon character. The boys recorded the track with their rock band Magicians Nephew. The song was titled Peppa Pig and used an image of Peppa to advertise...
Guidance issued recently by the Home Office has said that people can be fined up to £2,500 and face criminal prosecution under new antisocial behaviour laws, for failing to control the spread of Japanese Knotweed in their gardens. This invasive plant...
After the shocking scenes of people fighting in the aisles to grab a bargain on Black Friday it’s no surprise that many prefer to sit at home and surf the internet on Cyber Monday. The Consumer Contracts (Information, Cancellation and...
Earlier this year a controversial strapline was briefly adopted by Lidl as a parody of the well known Tesco trade mark ‘Every Little Helps’. The strapline was quickly withdrawn by Lidl but a...
What are the advantages? Although being self employed or operating as a sole trader is the most popular way of running a business in the UK there could be significant advantages to operating as a limited company instead. Setting yourself up as a sole trader...
The Consumer Protection (Distance Selling) Regulations 2000 provides a right for a consumer to cancel contracts made without face to face contact with the business providing the goods and/or services (e.g. over the internet or phone). The Cancellation of...
Natural England have recently launched a new online tool to help Local Planning Authorities (LPAs), developers and ecologists assess whether a proposed development is likely to impact negatively on Sites of Special Scientific Interest (SSSIs). The Impact...
The exact line of a legal boundary is often left unclear in conveyancing. Trying to describe it exactly without precise measurements and accurate large scale plans can be problematic. For example, a boundary may be marked by a physical boundary, which may be...
Lush, the cosmetics company that began in Poole High Street in the 1990’s, has just taken on Amazon, the online retailer and won. Lush’s trademark infringement claim against Amazon’s misuse of its brand has been upheld by the High Court of...
The recent spate of storms that have devastated parts of England have caused many problems for businesses. Through no fault of your own maybe your customers have been let down or suppliers have let you down. What are your obligations? The answer lies in your...
Many properties are sold that are subject to a restrictive covenant. A couple of examples of a restrictive covenant could be, to prohibit the keeping of animals other than domestic animals, or to prevent major alterations to the property. Oonagh...
The Partners at Frettens Solicitors are delighted to announce their recommendations in this year’s Legal 500 Directory. Matthew Fretten , Managing Partner and Head of the Commercial Team was noted for having a “ very responsive team...
The Growth and Infrastructure Bill received Royal Assent in April this year, introducing a number of reforms that will affect the planning application process. The measures are in theory intended to reduce red tape and make it easier for housing development...
Valuing a potential business is probably the most important thing to get right – unfortunately, it’s also one of the most difficult things to do. The best way of finding out if you’re going to be paying the right price is to carry out some...
In May this year HMRC launched a consultation paper on two aspects of LLP and partnership structures in an attempt to counter perceived abuse of these structures for tax avoidance purposes. The paper sets out HMRC’s proposals to change the tax...
A Personal Guarantee is a contractual promise to pay the liabilities of another. The guarantor is normally a shareholder, director or group company with assets. The debtor is typically the guarantor’s company. As the economy continues to falter, an...
Terms in a contract which seek to limit or exclude liability can have a significant impact on the value of the contract. What is valid or enforceable? Generally there are three types of exclusion clauses which act to limit or exclude a party’s...
The Government’s new annual tax on residential properties valued at more than £2 million that are held by companies or ‘non-natural persons’ came into force on 1st April. From April 6th whether or not an individual is resident in...
The proposed changes under the Government’s Growth and Infrastructure Bill 2012-13 are due to come into effect in the summer of this year. The Bill which contains reforms to the law for registering new town and village greens should afford some much...
Debentures are an alternative form of making an investment in a company. They are more secure than investing in shares as interest payments must be made by the company and paid before dividends, which are paid at the discretion of the company. Debenture...
Frettens Solicitors are pleased to announce that Clare Hallett has re-joined their Commercial Property Team as an Associate. Clare trained at Frettens and qualified as a solicitor in 2005, focusing on Commercial Property. She left Frettens in 2009 to join...
Your Terms and Conditions are vital to your business and are also required by law to protect you and your customers. It can be a daunting task trying to decide what you need on your website but the topics you should include are: • Contracts •...
You may be asked at some time to provide a condition, warranty or indemnity on behalf of your company. What’s the difference between them and what are the implications for the directors personally when they are given? A condition, just like a...
If you are thinking of buying a business it’s extremely likely that you will want to examine all aspects of the company before committing yourself. Due diligence is a broad definition of an investigation into the financial and commercial activities...
Minority shareholders generally have very few rights and can be subject to the decisions of the major shareholder who controls 50% or more of the shares in the company. The majority shareholder has almost total control of how the company is run and what it...
It is all too easy when running a busy company to overlook the importance of having a shareholder buyout agreement . There are many reasons why a shareholder would want to leave the company, and if you have no buyout agreement in place this can cause many...
Any creative work recognised as being an asset or physical property is referred to as Intellectual Property (IP) , and this covers four main areas – copyright, trademarks, design rights and patents. Matthew Fretten , Commerical Partner, says...
There are many advantages to franchising your business – one of the greatest being that it’s possible to achieve a fast growth without making a large capital investment. Franchisees invest their own money and are keen to keep costs low and...
First and foremost an offshore company is a flexible business instrument that can be integrated into a wide variety of tax planning and asset protection arrangements. Reduced or deferred tax liability and increased confidentiality are just two of the...
The Consumer Protection (Distance Selling) Regulations 2000 were brought into force to protect consumers (meaning an individual, not a business) when they shop online or enter into other contracts at a distance with a supplier. In these circumstances, the...
In May of this year a new set of rules were introduced by the EU to regulate the use of cookies on websites . The British authority which oversees these things – the Information Commissioner’s Office (ICO) – has given all UK...
A short video article featuring Oonagh McKinney , Commerical Property Partner talking about the relaxed Sunday Trading Laws throughout the Olympics. Read the full article: Relaxation of Sunday trading laws for London 2012 on...
In a bid to take advantage of tourists heading for London, The Government will relax Sunday trading laws during the Olympics and Paralympics. This is designed to show that Britain is open for business. However, this may not benefit all retailers. Sunday...
Planning who will succeed you in your family business is a tough challenge if you want your business to thrive and grow in the future. It is also a great opportunity to maximise individual talents and create a multi-generational business. Succession...
A partnership without a written agreement is a ‘partnership at will’ which means that relations between partners are governed by the Partnership Act 1890. Unfortunately a ‘partnership at will’ can be an unstable business structure as...
Frettens Commercial Team recently acted on behalf of AFC Bournemouth Limited in relation to the recent investment in the club by Russian businessman Maxim Demin, who became co-owner of the football club with the current Chairman, Eddie Mitchell. The...
Under Company Law, directors are subject to certain duties contained in sections 172-177 of the Companies Act 2006 and in times of financial crisis these should be strictly adhered to. Commercial Partner, Matthew Fretten , says “Where a company is...
Stamp Duty Land Tax (SDLT) proposals outlined in March’s Budget came into force in July, paving the way for more investment in the rental market. The rate of SDLT on purchases of multiple residential properties will now be determined by the mean value...
Those wishing to run a business through the medium of a company may either create a company from scratch or purchase an existing “shelf” company i.e. a company which has already been set up. Karen Edwards is a Commercial Solicitor at Frettens...
There are many issues facing any SME business and your aim should be to avoid disputes and legal wranglings by identifying some common risks. Any enterprise involves a certain amount of risk taking, but by adopting a balanced approach and trying to identify...
Frettens Solicitors are delighted to announce the latest recruit to their Commercial Property Team, Kerry Houston-Kypta. Kerry joins Frettens from Turners Solicitors LLP having gained vast experience in the commercial property sector at a couple of other...
Any creative work recognised as being an asset or physical property is referred to as Intellectual Property (IP) and this covers four main areas – copyright, trademarks, design rights and patents. Karen Edwards , Commercial Solicitor, explains...
A sorry fact of the downturn in the economy is the fact that many previously thriving companies have been forced into insolvency. Although this is distressing for the company and all associated with it, it means there are some shrewd purchases to be made....
When it comes to selling a business which is operated through a company, the first question the owner of that business has to ask is whether or not the sale is going to be of the shares in the company that runs the business or the assets of the business....
Each share in a limited company carries a number of votes. These are referred to as ordinary shares and usually carry one vote per share. A majority of over 50% will control the company. Using a shareholders agreement protects a minority from being exploited...
One of the main themes of the recent Budget was to support businesses, thereby providing jobs and growth for the economy. The Chancellor said he wanted to make the UK ‘the best place to start, finance and grow a business’. The Government are set...
There has been a marked increase in the demand for rental property since 2009 and this presents an opportunity within the market for new landlords. First time buyers are struggling to get on the property ladder due to the financial instability brought on by...
It is crucial for any business that its customers are aware of the terms & conditions on which that business trades. A well drafted set of terms & conditions can protect your business having to argue issues such as late or non-payment for...
The Bribery Act 2010 has received Royal Assent and will come into force in April 2011. It overhauls the previous legislation and case law, which, having developed in a piecemeal fashion since the nineteenth century, was widely regarded as being in need of...
The law relating to business tenancies is in many ways the same as for any other type of tenancy, except that the tenant has a right to apply to the county court for the grant of a new lease when his tenancy ends. A business tenancy exists when premises or...
When starting a new business there are several organisational structures available. Each structure has particular advantages that will suit a particular business, and forming your company with the wrong structure may put your business at a disadvantage. ...
The latest analysis of pay settlements from www.IDSPay.co.uk shows that the majority of employers across all sectors are continuing to award pay increases of between 2% and 3%. However, the proportion of employers freezing pay has dropped to 9%, the lowest...
If you are planning to sell your business you will need to present it in the best possible light. To obtain the most favourable outcome you need to consider several key areas: Planning the sale Finding a buyer Legal representation To maximise your...
There are many advantages to franchising your business, one of the greatest being that it is possible to achieve a fast growth of your business without making a large capital investment. Franchisees invest their own money and will be keen to keep costs low...
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