Asset Management
ACS Legal Solutions provide clients with commercial legal services including
Asset Structuring
You work hard to acquire assets – if they are not structured correctly, one piece of bad luck can see them disappear, seemingly overnight. Planning ahead, and structuring your assets to afford maximum protection from business threats, or litigation is essential for those who want to build a strong asset base for themselves and their family.
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Trademarking
Your business name and logo are the means by which customers locate and recognise your business. It is often easy to overlook the need to protect one of your biggest business assets. We can help with trademarking, and protection of your intellectual property.
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Business Succession Planning
No-one wants to work forever. So why do so many people in business forget to plan for the time when they want to kick back, and do something else? The ACS Legal Solutions team can help you navigate through the various options, to develop a business succession plan which fits your business, and your needs.
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Business Structuring
The best time to choose the appropriate structure for your business is before you start it or buy it. Sometimes though, the best structure is not apparent at the beginning of the business journey. The ACS Legal Solutions team can advise on appropriate structures (together with your financial advisers) and help implement any changes needed to your structure.
Personal Properties Securities Act
In these tough economic times it is becoming increasingly important to ensure that you do not let anything slip through the cracks. The new Personal Property Securities Act regime commenced on 30th January 2012.
This regime rolls out a national security register for the benefit of businesses operating within the finance sector, leasing or hire arrangements, the construction industry and other industries where retention of title plays a key role in the provision of goods and services.
The new regime will permit secured parties to register their security interest in collateral owned by the debtor on the one national database. Other statutory bodies will be disbanded and security interests recorded in places such as REVS will migrate to the new system.
Several factors will become critical in the implementation of the new regime for many business owners, including:
- Ensuring that existing security interests, registered with other existing bodies, are effectively transferred to the new register. If there is insufficient information to perfect the registration then the secured party will have 2 years from the date of commencement to ensure that this has been rectified otherwise their interest will cease.
- Other security interests not previously recorded may well be entitled for registration on the new database. What will become important will be the accuracy in which an interest is recorded on the register. Should even a single digit in a serial number be recorded incorrectly then the security interest will be extinguished.
- Financial statements outlining the security interest will be required to ensure the validity of the interests of the secured party.
This new regime, will however present a new and exciting opportunity for business owners to secure debtors and their performance under their current arrangements
If you are a supplier then you will need to consider what changes you will need to make to your business and security arrangements. We can assist you with this migration to the new regime.
More Articles of Interest on Business Structuring
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More Information Call us on 1800 000 646 or contact us by email directly.
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