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Are Restraints Of Trade Enforceable?

Restraints of trade are reasonably common in the commercial world.

  • 19 November 2009
  • Author: Geoff Hardy
  • Number of views: 3775
Are Restraints Of Trade Enforceable?

You often see them in the context of a sale of business, where the buyer requires the seller not to compete with him for a specified period. They are also frequently found in employment agreements, especially where senior staff are involved, in which case they prevent the employee from undermining the employer’s business for a specified period after the employment comes to an end. 

How The Law Controls Monopolies

We are all familiar with the board game “Monopoly”.

  • 15 December 2006
  • Author: Geoff Hardy
  • Number of views: 1810
How The Law Controls Monopolies

The idea is to buy up as many properties as you can, load them up with houses and hotels, charge exorbitant rents to anyone who comes to visit, and gradually bankrupt all the other players. The game is based on real life, and there is no question that in business, if you can do the same thing in your particular industry, you will make a killing.

Selling a Business – Some Common Issues

Sales of businesses are generally structured either as share sales or asset sales.

  • 3 May 2005
  • Author: Geoff Hardy
  • Number of views: 5477
Since most businesses are carried on in the name of a company, you can sell the shares in that company, provided it has no other assets or businesses the seller wants to hang on to. This means that you don’t need to individually transfer assets like land, leases, franchises, agencies, licences & distributorships, trade marks, motor vehicles, and employees – these all remain owned by or contracted to the company – the seller simply transfers ownership of the company to the purchaser. 

Buying a Business – The First Steps

For most people, the purchase of a home is the most significant financial transaction they will experience in their lifetimes.

  • 4 March 2005
  • Author: Geoff Hardy
  • Number of views: 3817
But for a smaller percentage of people, the purchase of a business is just as significant. Both involve a considerable amount of money changing hands, a lot of legal complexity, and considerable risk if something goes wrong.

How The New Employment Laws Would Affect Business Sales or Contracting Out of Services

The Employment Relations Law Reform Bill has now been through the select committee hearing process.

  • 10 March 2004
  • Author: Geoff Hardy
  • Number of views: 2053

One of the most controversial aspects of the Bill is the proposal to protect the employment of employees when a business is sold or their work is contracted out. Assuming the Bill will soon be passed into law relatively unaltered, it is time to focus on precisely how it would impact on businesses that are up for sale, or are looking to contract out some of their operations. It may be that business owners should bring their plans forward, urgently.



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