business

Essential Commercial Contracts Every Start Up Business Needs

So, after months of planning, researching the market and potential clients, you’ve established your brand name, your business doors are now open and you are ready to supply your goods and services to the world.

The main thought on your mind is probably how long before you make a profit and, I would guess, that the last thing would be considering the commercial contracts that need to be put in place.

However, if you want to protect your business investment, then having the right agreements in place early on is crucial.

The correct contracts will enable you to:

Company protects its business from poaching by former director

A businessman has failed in his attempt to overturn an injunction preventing him from competing with his former company and trying to poach its customers.

 

The court heard that the businessman had been both a director and a shareholder of the company until 2013 when his employment was terminated. He sold back his shares and entered into a post-termination agreement that prevented him from soliciting the company’s clients for a period of 12 months.

 

New Commissioner ‘to help small firms tackle late payment issues’

The government is planning to appoint a Small Business Commissioner to help firms tackle late payment problems and unfair practices carried out by larger companies.

 

The move comes after research by Bacs showed that small and medium-sized businesses are owed a total of £26.8 billion in overdue payments and that £10.8 billion is spent per year in attempts to recover overdue payments.

 

A survey by the Federation of Small Businesses in 2014 revealed that 51% had experienced late payment within the previous 12 months.

 

Dismissing employee over abusive Facebook post was ‘not unfair’

A company that sacked an employee who made abusive comments on Facebook and claimed he’d been drinking on duty had not acted unfairly.

 

That was the decision of the Employment Appeal Tribunal in the case of Scottish Canals and one of its employees.

 

The issue arose after the employee posted comments that he had been drinking while on standby for flood alerts. He also posted abusive remarks about his supervisors. When questioned by the company, he said the comments were jokes and part of everyday banter.

 

How will new Bills in Queen’s Speech impact on businesses in Wales?

The Queen’s Speech outlined several Bills that could have an impact on the business sector in Wales, that is of interest to us as solicitors and our clients.

 

The government says the main theme behind most of its proposals is to strengthen the UK’s competitiveness and to create conditions that will enable companies to create more jobs.

 

These are some of the main proposals:

 

Enterprise Bill