Free Law Tips >> Business Law Tips .

Do have all your Partnership Agreements; Shareholder or Unitholders Agreement in writing prepared by lawyers. If it is not written it is not done.

DON’T rely on verbal agreements between participants in a business as common understanding goes out the window in a dispute and to the grave on death.

Do have a business Succession Plan between business partners in place including financing of retirement, death or disability

DON'T enter into any legal document without it being reviewed by a Lawyer prior to executing them.

DO review your Will regularly to meet your changing circumstances.

DON'T provide guarantees for other parties without first obtaining independent legal advice.

DO register all intellectual property rights including trademarks, designs and patents.

DON’T deal with companies by providing goods or services without obtaining personal guarantees from the Directors of the company.

DO quarantine your family assets from your business assets in the event of worst case scenarios.

DON'T rely on verbal orders always obtain confirmation in writing on your standard terms and conditions prior to fulfilling any order.

Back to previous page