Archives for August 2011

Is your ACN on all your public documents?

In Australia every company is issued with a unique, nine-digit number known asan Australian Company Number (ACN).  The ACN must appear on all public documents.  The purpose of the ACN is to ensure that companies are identified when conducting business transactions.[1]  On registration, new companies are issued with an ACN by the Australian Securities & Investments Commission (ASIC).[2]

Section 153 of the Corporations Act 2001 (Cth) (Act) provides that a company must set out its name and ACN on all its public documents and negotiable instruments.

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Legal risks of social networking for business

Much has been written on the “perils” of engaging in social networking by Australian business.  There are even some decided cases that have emerged in 2011 which highlight some of these perils.  Whilst there is no need to panic, by participating on Social Media Sites (SMS) during and after hours Employees can, and do, expose themselves and their Organisation to a diverse range of legal risks associated new millennium scenarios that remain largely untested legally.

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Do organisations need social media policies?

What is a Social Media Policy?

A Social Media Policy (SMP) is a document that suppliments a contract of employment to be legally enforceable by an organisation on its employees. The aim of an SMP is to clearly communicate what is acceptable conduct on Social Networking Sites by an organisations employees and contractors and what conduct is unacceptable and would make an employee liable to dismissal.
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Top 7 mistakes made in Shareholders’ Agreements

Shareholders Agreements’ or “Business Wills” as recently referred to by Paul Betti of Australian Financial Advisers, are commonly created at the beginning of a business venture.  They attempt to regulate the conduct of the shareholders who are establishing a new venture and apply not only to Pty Ltd Companies, but to Partnerships and other commercial entities.
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Australian Competition and Consumer Commission v Allergy Pathway Pty Ltd (No 2) [2011] FCA 74

Misleading and deceptive conduct found because of failure to remove false statements on Facebook wall.

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