Are you thinking of selling your business? It will be a typical requirement that all assets you are selling are provided to the buyer free of encumbrances.

In a unanimous judgement, the High Court recently held that Connective Services Pty Ltd had breached its obligations under the Corporations Act (Act) by bringing and funding litigation in respect of the enforcement of its shareholders’ constitutional pre-emption rights against an outgoing shareholder.

You have made the decision to sell your company or business. But ask yourself, what is it that you are selling? Is it the shares in the company or is it the underlying assets and/or business? Where is the underlying value in the business that will attract potential buyers?

Lawyers are often the butt of jokes when it comes to how expensive we are. We get it. But if you are engaging a lawyer to sell (or buy) a business, the right lawyer can add value to your bottom line.

Most new software for organisations these days is a ‘cloud service’.  While previously you bought a CD ROM that you popped in your computer and ran the program on that local computer, cloud software means that the program is running on a server somewhere else in the world and delivered to you via the Internet.