PBL Key 5 documents for small to medium businesses

2 min read

The Key Business Documents

All businesses need to be aware that there are five key documents that all SME’S should have as part of their assets and including intellectual property in order for the business owner to protect assets, add value, grow wealth and secure its future.

Essentially these documents are:

1. The structure documents

When we set up a business operation it is important that the operating entity is separate from any person or entity owning the assets. For further protection we would recommend that the shareholding is held by a family trust for and on behalf of each shareholder. A license agreement can be put into place whereby the asset holding entity licenses the assets to the operating entity for a commercial fee with discretionary termination rights.

2. A shareholders and/or unit holders agreement

Where you have an SME which has two or more families or partners involved and where a company is the operating entity, even though the families or partners might be the best of friends, this may not always be the case and to avoid dire consequences including expensive litigation if there is a dispute or one party wants to exit from the business, it is essential that the SME has in place a shareholders/unit holders agreement to create rules by which disputes, management, decisions and exits are dealt with.

3. Terms of trade or terms and conditions

Many businesses operate without proper or adequate terms of trade conditions in place. This can be a recipe for disaster if a dispute arises with a client or customer. To ensure that everyone is aware of the rules governing the supply of goods and services, it is key to a business to ensure that proper terms of trade are prepared and used by the business at all times. Matters such as payment terms, delivery, security, retention of title, releases, indemnities and exclusions should be dealt with in terms of trade in a manner which favours the business.

4. Employment Agreements

A business conducted by an SME is only as good as the quality of the employees available to undertake the work required to make business profitable. However, never a day goes by when some business is facing the prospect of an unfair dismissal claim or a claim for wages and conditions from a disgruntled employee. If you want to avoid some of the risk and pain associated with such an action, it is essential that the business has available and in place employment agreements signed by the employees which should cover such matters as wages, salaries, terms and conditions of the employment arrangement, termination confidentiality and restraint of trade matters.

5. Intellectual property and branding

One of the ways that the business can grow wealth and value is by ensuring that any intellectual property it develops is protected. Ideally a business will have an inventory of such property which may include such IP as trademarks, copyrights, patents, designs and trade secrets. Essentially applications need to be made to register some IP including your brand if you believe that it is possible for a competitor to take advantage of your creative endeavours by adopting your brand and therefore attracting your customers to it. Applications are made through IP Australia for this purpose.

If you read this article and do not have any one of the 5 key business documents in place we would highly recommend that you seek advice from this firm before going any further. You can contact us on 4305 3500.

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Picture of Authored By<br>PBLTeam

Authored By
PBLTeam

Director Lawyer, PBL Law Group

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I have experienced an excellent service from PBL (especially from Anita) during the sale of my recent property on Central Coast, and during the purchase of our current property in Sydney. Throughout many challengers, especially with the sale, Anita presented her very professional and knowledgeable conveyancer, positively solving all obstacles. "Above and Beyond" Award going to Anita!!! :-)
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The five-star reviews are well-deserved. I needed a motion and a bylaw drawn up for urgent repairs of my strata unit and the AGM was in two weeks' time. My solicitor was friendly, efficient, knew what documents to ask for, and had all the paperwork prepared well within the timeframe. She also took the time to run through all the legalese and the different possible scenarios with me to make sure I understood. I am so glad to have found this firm and I will not hesitate to use their services again in future if the need arises.
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Ron Thomsen
Our Commercial Property conveyancing was handled very professionally. Anita’s experience and responsiveness was an asset in this transaction.
Trace M
I am so grateful for Anita Bradley from PBL Law Group helped me with this property settlement, she has went above beyond to ensure I understand everything because of our deafness. I will recommended Anita or their team. Thank you so much for all the hard work you have done for us.
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For almost 18 months I have been a client of Alex Ilkin. Alex is very knowledgeable and professional and has consistently provided me with thorough, honest and well set out advice, including steering my case through appeal proceedings. He always worked for my best interests with integrity and compassion. I recommend Alex and his team at PBL.

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Jye Hall
Anita Bradley has been an absolute dream to deal with. Anita's conveyancing skills and knowledge knows absolutely no boundaries along with her effective communication skills which has made selling and buying a completely stress free exchange for us. We recommend PBL Law to everyone looking for outstanding service. We will definitely be returning clients.
Kushlan Aluwihare
PBL Law Group were fantastic. Anita from PBL worked with us closely during our property search and made the exchange and settlement process smooth and stress free. Highly recommended.
Gail Whitford
PBL handled my late mothers estate, they were very obliging and patient with any and all questions that we had, thank you to David , Sharon and the other staff that we dealt with, everyone was so easy to talk to and friendly .David came to the home where my Mother was living and helped her to get her will in order, Sharon helped us through the process of executing her wishes when the time came even doing a house call which was so much easier, thank you all so much
S M
I have experienced an excellent service from PBL (especially from Anita) during the sale of my recent property on Central Coast, and during the purchase of our current property in Sydney. Throughout many challengers, especially with the sale, Anita presented her very professional and knowledgeable conveyancer, positively solving all obstacles. "Above and Beyond" Award going to Anita!!! :-)
Amanda Reitzin
The five-star reviews are well-deserved. I needed a motion and a bylaw drawn up for urgent repairs of my strata unit and the AGM was in two weeks' time. My solicitor was friendly, efficient, knew what documents to ask for, and had all the paperwork prepared well within the timeframe. She also took the time to run through all the legalese and the different possible scenarios with me to make sure I understood. I am so glad to have found this firm and I will not hesitate to use their services again in future if the need arises.
Ricky Cooper
Anita is amazing! So attentive, approachable and communicates everything every step of the way. I have now bought and sold property with Anita and I cannot recommend her highly enough.
Ron Thomsen
Our Commercial Property conveyancing was handled very professionally. Anita’s experience and responsiveness was an asset in this transaction.
Trace M
I am so grateful for Anita Bradley from PBL Law Group helped me with this property settlement, she has went above beyond to ensure I understand everything because of our deafness. I will recommended Anita or their team. Thank you so much for all the hard work you have done for us.
Tricia Wheatstone
For almost 18 months I have been a client of Alex Ilkin. Alex is very knowledgeable and professional and has consistently provided me with thorough, honest and well set out advice, including steering my case through appeal proceedings. He always worked for my best interests with integrity and compassion. I recommend Alex and his team at PBL.