The recent NSW Court of Appeal decision in GIO General Limited v Centennial Newstan Pty Ltd is a powerful reminder of the breadth of a typical obligation found in many contracts requiring one party to extend its public liability insurance to cover the other party.
How to protect your business when an employee leaves
What can you do when an employee leaves and starts competing with your business? Following is a brief overview of some of the most common questions we hear and what you need to know to help protect your business….
Statutory Demands – Why Use Them?
Many businesses face a difficult dilemma of whether or not to pursue a debt. To pursue debts by a traditional civil proceeding (usually in the local or district court) can be a slow and expensive process.
An alternative approach is to make a so-called “statutory demand” under section 459E of the Corporations Act.
GST clauses: never underestimate their importance!
Almost every contract contains a GST clause. These clauses have an important function in a contract since they allow, among other things, a supplier to recover GST from its customer (remembering that it is the supplier who must remit GST on the transaction to the Australian Taxation Office). Despite their importance these clauses are often poorly drafted, and the parties – and in some cases even their lawyers – give little thought as to whether the wording of the clause appropriately protects the party’s GST position.
Construction Industry Alert : Important changes to the Security of Payment Legislation in NSW are in force
After a difficult post-GFC period for the construction industry that saw the collapse of numerous construction companies, the NSW government has responded to the recommendations of an inquiry into the industry with a series of key changes to to the New South Wales Building and Construction Industry Security of Payment Act (Act).
The Act has actually been a feature of the construction industry in NSW for the last 15 years, with similar legislation also existing in other states.
Intellectual Property and Your Business
Many people don’t fully understand the impact of intellectual property law on their day-to-day business operations. A common misconception is that unless your business generates inventions or involves artists, musicians or filmmakers, intellectual property law isn’t a concern.
This is not correct.
Could your firm be suffering from ‘law lag’?
A reluctance to adapt certain out-dated methods has barred many firms from tapping into a new generation of talented lawyers who crave a different employment model. The head of Source Legal explains in an interview with “The Australian Lawyer” which ideas have had their time. Go to article.
Read MoreNew privacy laws – who’s affected and what’s needed to comply?
Since March 12th 2014, businesses with a turnover of over $3million per annum can be financially penalised up to $1.7 million for breaches of new privacy regulations if they collect any personal information.
As part of the latest changes to the Privacy legislation, 13 new Australian Privacy Principles (APPs) have been introduced which will replace the National Privacy Principles and Information Privacy Principles that previously applied to private organisations and Government agencies.
Commercial Contracts Seminar: What you need to know!
Source Legal has partnered with conference organisers Clariden Global to run an innovative and comprehensive two day seminar on commercial contracts.
Stanislav Roth and George Paramananthan of Source Legal will provide insights into contract structuring, drafting and negotiation of contracts to managers and executives across a wide range of disciplines and industries. The topics will range from contract formation to dealing with stressful contract negotiation, techniques for controlling liability in contracts, and dispute resolution strategies, and much more.
A recent case reminds us of expensive consequences of not defining “consequential” loss
The recent Supreme Court of Western Australia case Regional Power Corporation v Pacific Hydro Group Two Pty Ltd once again confirmed that the terms “consequential” or “indirect” loss lacked a reliable meaning.
Are your limitation of liability provisions in contracts clear?