Conducting Business in NZ <ul><li>The legal environment  </li></ul><ul><li>PRESENTER: MIKE FORSTER (LLB (HONS)/BA) </li></ul>
Business Structures <ul><li>Sole Trader  </li></ul><ul><ul><li>Free, no registration, simple </li></ul></ul><ul><ul><li>BU...
Business Structures (Cont) <ul><li>Limited Liability Company </li></ul><ul><ul><ul><li>A “separate legal entity” (like a p...
Companies – Key Rules <ul><li>DIY compliance: </li></ul><ul><ul><li>Directors/Share/Interests Registers </li></ul></ul><ul...
Contract Law 101 <ul><li>What makes an agreement legally enforceable? </li></ul><ul><ul><li>Offer </li></ul></ul><ul><ul><...
Contract Law (Cont) <ul><li>Don’t technically need to be in writing </li></ul><ul><li>“ Agreements to Agree” </li></ul><ul...
Contract Law (Cont) <ul><li>Legally valid  but  practically enforceable? </li></ul><ul><ul><li>Paper trail (emails) </li><...
Consumer Rights <ul><li>Consumer Guarantees Act </li></ul><ul><ul><li>Imposes minimum warranties for goods and services pr...
Intellectual Property <ul><li>Patents (Invention: “ANMOM”, “Inventive Step?) </li></ul><ul><li>Copyright </li></ul><ul><ul...
Intellectual Property (Cont) <ul><li>Trademarks </li></ul><ul><ul><li>Unique brand identifier: logos, words, colors </li><...
Creditor Avenues . Creditors Secured Creditor Unsecured Creditor Enforce Security Receivership Liquidation Execution / Att...
Insolvency Hierarchy
Contact Details <ul><li>www.thelawguide.co.nz </li></ul><ul><li>[email_address] </li></ul>
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Conducting Business In NZ

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A seminar presenting the basics of legal knowledge required for operating a business in NZ

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Conducting Business In NZ

  1. 1. Conducting Business in NZ <ul><li>The legal environment </li></ul><ul><li>PRESENTER: MIKE FORSTER (LLB (HONS)/BA) </li></ul>
  2. 2. Business Structures <ul><li>Sole Trader </li></ul><ul><ul><li>Free, no registration, simple </li></ul></ul><ul><ul><li>BUT personal liability </li></ul></ul><ul><ul><li>Credibility, selling your business </li></ul></ul><ul><li>Partnership </li></ul><ul><ul><li>2+ sole traders, partnership amendment </li></ul></ul><ul><ul><li>No separate legal entity </li></ul></ul><ul><ul><li>Personal taxes </li></ul></ul><ul><ul><li>Personal liability </li></ul></ul>
  3. 3. Business Structures (Cont) <ul><li>Limited Liability Company </li></ul><ul><ul><ul><li>A “separate legal entity” (like a person) </li></ul></ul></ul><ul><ul><ul><li>Shareholders/Directors/Employees </li></ul></ul></ul><ul><ul><li>Advantages </li></ul></ul><ul><ul><ul><li>Limited Liability </li></ul></ul></ul><ul><ul><ul><li>Credibility </li></ul></ul></ul><ul><ul><ul><li>Ease of investment/Succession </li></ul></ul></ul><ul><ul><li>Disadvantages </li></ul></ul><ul><ul><ul><li>The cost ($170) </li></ul></ul></ul><ul><ul><ul><li>Compliance </li></ul></ul></ul><ul><ul><ul><li>Directors Duties </li></ul></ul></ul>
  4. 4. Companies – Key Rules <ul><li>DIY compliance: </li></ul><ul><ul><li>Directors/Share/Interests Registers </li></ul></ul><ul><ul><li>Paying yourself (Dividends) </li></ul></ul><ul><ul><li>“ Major Transaction” Rules </li></ul></ul><ul><ul><li>SHAGs </li></ul></ul>
  5. 5. Contract Law 101 <ul><li>What makes an agreement legally enforceable? </li></ul><ul><ul><li>Offer </li></ul></ul><ul><ul><li>Acceptance </li></ul></ul><ul><ul><li>Certainty </li></ul></ul><ul><ul><li>Intention </li></ul></ul><ul><ul><li>Consideration </li></ul></ul>
  6. 6. Contract Law (Cont) <ul><li>Don’t technically need to be in writing </li></ul><ul><li>“ Agreements to Agree” </li></ul><ul><li>Fairness </li></ul><ul><ul><li>“ peppercorn consideration” </li></ul></ul><ul><ul><li>Incapacity </li></ul></ul><ul><li>Guarantees enforceable? </li></ul><ul><ul><li>Certainty? </li></ul></ul><ul><ul><li>Intention? </li></ul></ul>
  7. 7. Contract Law (Cont) <ul><li>Legally valid but practically enforceable? </li></ul><ul><ul><li>Paper trail (emails) </li></ul></ul><ul><ul><li>Companies Register (shell co’s) </li></ul></ul><ul><ul><li>PPSR (get a read on their debt levels) </li></ul></ul><ul><ul><li>International Contracts </li></ul></ul><ul><li>Enforcement </li></ul><ul><ul><li>Ordinary Demands </li></ul></ul><ul><ul><li>Disputes Tribunal ($30-$100; $15k) </li></ul></ul><ul><ul><li>Legal Action </li></ul></ul>
  8. 8. Consumer Rights <ul><li>Consumer Guarantees Act </li></ul><ul><ul><li>Imposes minimum warranties for goods and services provided to consumers </li></ul></ul><ul><ul><ul><li>quality thresholds (multi-factorial) </li></ul></ul></ul><ul><ul><ul><li>“ remedy and repair” as general consequence </li></ul></ul></ul><ul><li>Fair Trading Act </li></ul><ul><ul><li>Prohibits misleading or deceptive conduct in trade </li></ul></ul><ul><ul><li>Objective: “an informed market” </li></ul></ul>
  9. 9. Intellectual Property <ul><li>Patents (Invention: “ANMOM”, “Inventive Step?) </li></ul><ul><li>Copyright </li></ul><ul><ul><li>All new expressions of ideas </li></ul></ul><ul><ul><li>Low threshold (“MtM Skill and Labour”) </li></ul></ul><ul><ul><li>No registration – automatic right </li></ul></ul><ul><ul><li>Right to copy, use and adapt – 20 years </li></ul></ul><ul><ul><li>Owner : creator/employer </li></ul></ul><ul><ul><li>Copyright infringement </li></ul></ul>
  10. 10. Intellectual Property (Cont) <ul><li>Trademarks </li></ul><ul><ul><li>Unique brand identifier: logos, words, colors </li></ul></ul><ul><ul><li>Can’t register TM if: </li></ul></ul><ul><ul><ul><li>Superlative </li></ul></ul></ul><ul><ul><ul><li>Confuse/mislead </li></ul></ul></ul><ul><ul><ul><li>Descriptive </li></ul></ul></ul><ul><ul><ul><li>Location of good </li></ul></ul></ul><ul><ul><li>Cost $100, renewable </li></ul></ul>
  11. 11. Creditor Avenues . Creditors Secured Creditor Unsecured Creditor Enforce Security Receivership Liquidation Execution / Attachment Mortgage (Real Property) PPSA (Personal Property) Agreement
  12. 12. Insolvency Hierarchy
  13. 13. Contact Details <ul><li>www.thelawguide.co.nz </li></ul><ul><li>[email_address] </li></ul>

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