6 Key Clauses in the Partnership Agreement to make your small business huge.

6 Key Clauses in the Partnership Agreement to make your small business huge. Depending on the size of the business activities and the number of partners engaged, partnerships can be complex. The formulation of a partnership agreement is essential in this kind of business structure to lessen the possibility of conflicts among partners. Although each […]

The 8 key essential documents required for startups?

THE 8 KEY ESSENTIAL DOCUMENTS REQUIRED FOR STARTUPS? A startup is as a company at its initial stages in its business. When a startup is newly formed it often requires financing either through capital contribution from the company’s owners/ promoters or through investor financing, loan facilities and venture capitalists. The formation of a startup company […]

7 key terms to include in a Term Sheet

7 key terms to include in a Term Sheet What is a Term Sheet? A term sheet is a non-binding agreement between parties that sets out the basic terms and conditions of an investment and which is usually used by startup companies when they commence their operations. The non-binding effect of a term sheet signifies […]

Why do you need a shareholder agreement?

WHY DO YOU NEED A SHAREHOLDER AGREEMENT? A Shareholder Agreement is a contract made between the shareholders of a company. It describes rights and obligations of the shareholders as well as states the general operations of the company. It also describes the powers or duties of shareholders which include: An oversight role over the directors/ […]

Top 5 Contract Negotiation Strategies for lawyers

TOP 5 Contract Negotiation Strategies for lawyers Contracts are a normal business transaction that include terms on what each party is legally responsible for in the business relationship. Contract negotiation therefore involves two or more parties discussing the terms of said contract to come to an agreement before signing and formalizing the agreement. During the contract […]

Model Photography Contract & Release Forms Modeling Contracts

MODEL PHOTOGRAPHY CONTRACT & RELEASE FORMS MODELING CONTRACTS A modeling contract is a document by which a model establishes a working relationship with an agency. It contains the rules, regulations, and guidelines regarding the duties and obligations that both parties have towards each other. It is important to know modeling contracts aren’t one-size-fits-all. Every agency has […]

Termination of Employment Contracts: Termination on Account of Redundancy (PART 3)

TERMINATION OF EMPLOYMENT CONTRACTS: TERMINATION ON ACCOUNT OF REDUNDANCY (PART 3)   Termination on Account of Redundancy Redundancy is defined as the involuntary loss of employment, occupation, job or career of an employee through no fault of his/her own but rather at the employer’s initiative. An employee can be declared redundant in certain situations like […]

Termination of Employment Contracts: Summary Dismissal (PART 2)

TERMINATION OF EMPLOYMENT CONTRACTS: SUMMARY DISMISSAL (PART 2) As we had previously discussed, there are 3 ways by which employment contracts can be dismissed, these are, Termination on notice; Summary dismissal; or Termination on account of redundancy Summary Dismissal Section 44 of the Employment Act provides that summary dismissal shall take place when an employer […]

Registration of Sole Proprietorship

REGISTRATION OF A SOLE PROPRIETORSHIP A sole proprietorship can be registered as a business name as an unincorporated business entity that is registered in the name of an individual proprietor and wholly owned and operated by that same individual. Being unincorporated, unlike a company, it has no separate legal identity from its owner and cannot […]

Registration of a limited liability Partnerships

REGISTRATION OF LIMITED LIABILITY PARTNERSHIPS A limited liability partnership (“LLP”) is a type of partnership where the liability of all partners is limited to the amount that they each contributed. This is unlike a limited partnership where there exists at least one general partner whose liability is unlimited while the rest of the partners have […]