Are your Assets at Risk?

Before starting a business or even as you operate it, it’s important to weigh the pros and cons of every decision carefully. It’s a good idea to consult trained commercial lawyers to understand the potential implications of every important decision.

If you are just starting out, you have probably thought of a suitable name for your business. However, there are some important issues involved in the selection of a business name:

• Before you order business cards and signs etc, it’s necessary to consider legal issues involved. You need to ensure that the name or logo etc has not already been registered; such cases are known as copyright or trademark infringement. Your chosen business name may infringe on another business’s registered trademark and this counts as violation of law.

• If your business involves creative design, media etc, you may wish to protect your intellectual property rights. You need to ensure that your idea, brand or invention is available legally in order to register.

• Business owners guilty of trademark infringement are liable for prosecution under Australian law.
Patents, trademarks, intellectual property rights and copyright infringement etc are complex subjects that require special legal expertise. It’s important to seek legal guidance from a professional lawyer who is dedicated to looking after your best interests. Seeking affordable legal services right from the start can help reduce the likelihood of problems as your lawyer will update you on everything that you need in order to ensure legal compliance. He or she will also help you research your options and explain the rules of choosing a name that meets the criteria for trademark protection. Hiring a lawyer can help save time and minimise hassle when it comes to registering a name, setting up your business and obtaining the required licences etc.

When you have the right legal expertise on your side, you will have much more time to devote to other important tasks. An experienced, responsive and efficient lawyer can help prevent the occurrence of stressful legal issues that usually lead to heavy penalties and fines. Why waste your valuable money when every dollar can be utilised towards promoting your business? Moreover, the money that you will spend on hiring a lawyer is insignificant to the amount that you will have to shell out in the event of a lawsuit. Legal costs often run into thousands of dollars and can leave the business vulnerable to bankruptcy and loss of revenue. In addition, your time, energy and efforts will be wasted in court and protracted legal wrangling.

Competent business lawyers will help examine documents and issues, diagnose potential problems and suggest the best options available to you.