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Top 5 ‘Legal Must Dos’ For Business

Top 5 ‘Legal Must Dos’

No matter what kind of business you manage, there are fundamental ‘legal must dos’ that will help to ensure that your business is protected and will thrive!

These ‘must dos’ can protect your brand, reputation, hip pocket and sometimes even your freedom (some ‘should have dones’ can carry a gaol sentence)!

After practising law for 20 years, I’d like to share with you my insights into what I believe are the top 5 ‘must dos’ to protect you and your business from risk.

Legal Must Do #1 – Register, Register, Register

Trade Mark Your Business Name

Get some advice about eligibility to register your business name as a trade mark. If you don’t, then you may end up building your brand on a name that you’re ultimately not legally entitled to use. Get in early and register it before your competitor does!

Register Your Business Name with ASIC

While you’re at it, make sure that you register your business name with ASIC.   Conducting a business under an unregistered business name is an offence under the Business Names Registration Act (Cth) 2011 . Failure to register can cost you a $3,300 fine.

Legal Must Do #2 – Know what laws affect your business

I believe that getting things right in your business from the very beginning can save a whole lot of trouble and money at a later date.

Touchpoint Legal Business LawWhether it’s lack of knowledge, or fear of finding out the cost of legal compliance, some times you just ‘put off’ or completely avoid seeking out information about what you must do to comply with your legal obligations.

In the last few months, I have had clients who have been regulated under privacy, fundraising and trade marks laws who have not had anything in place to protect their business.

Breach of privacy laws can in some circumstances cost up to $1.7 million in fines, breach of fundraising laws can put you in gaol, and failure to register your trade marks can cost you your brand!

Your business is important – and finding out what you need to do to protect it and make it thrive is a good option compared with the above alternatives!

Legal Must Do #3 – Have Properly Drafted Contracts In Place

I have seen established corporates and small businesses use a ‘mish-mash’ of contractual terms that they Touchpoint Legal Business Lawhave either put together or vary themselves for their very important business transactions.

Contracts are so important – they set the ground rules between you and your customer or service providers. They protect your intellectual property, help to enforce payment terms and can determine which party will carry the most risk if something goes wrong. Don’t put your business at risk by cobbling together something that you don’t fully understand.  Call me if you need help with your contracts!

Legal Must Do #4 – Make Sure You’re Insured

No matter what type of business you manage, make sure that you obtain advice from a qualified insurance broker about what types of insurance will help to protect you and your business. Insurance can be really important in offsetting some types of risks and not getting the right insurance in place could cost you dearly if something goes wrong.

Legal Must Do #5 – Hire An Experienced Lawyer

Whether you have just started up or you have an established business, click here to contact Touchpoint Legal to arrange a free chat about how we can help to protect and make your business thrive!

This blog is for information purposes only, does not constitute legal advice and should not be relied upon as such. If you require legal advice please contact us or another registered legal practitioner.

About The Author

Angela Stackelbeck

Angela Stackelbeck is a Legal Director at Touchpoint Legal. She has practised law in Sydney in large corporates and private practice, for over 20 years. Angela's broad experience allows her to uniquely offer the dual benefit of practical legal expertise gained in private practice and commercial pragmatism learned from the in-house environment. You can contact Angela at or on 02 8005 0692 or 0404 872 644.