Asset protection is to do with protecting your assets. It is a process by which you set up a plan that will structure your business and personal affairs in such a way that your assets are protected ...
Bankruptcy is a process, laid down by law, which deals with debts a person cannot pay. It is a term used for the formal procedure for individuals who are declared by the court as insolvent ...
A company is one of the legal structures a business owner can use to run their business through. It is the one legal entity that has more to do with complying with regulations and other aspects ...
The Consumer Guarantees Act (CGA) sets out guarantees that goods and services must meet when sold by someone in trade - that is, a retailer or service person ...
The Ministry of Consumer Affairs provides information for retailers, manufacturers, importers and service providers, to help achieve a fair and informed marketplace ...
A contract is generally an agreement between 2 or more parties to exchange something for something else or to do something. Most contracts consist of an offer to buy a product or a service ...
Copyright is an international form of protection for original copyright work, such as literary, dramatic, musical or artistic works. In New Zealand, copyright protection is a statutory right ...
The Disputes Tribunal is a place where disputes are settled. The tribunal referee holds the hearing in private with you and the trader. The referee helps the parties to reach an agreement ...
If you have equity investors, your exit strategy informs your investors and management team when the big return on their investment will be cashed in and what will make that situation possible ...
When a private company decides to sell some of its shares to the public by “joining” or listing on the Stock Exchange, the company is referred to as “going public" ...
A guarantee is a written promise by you (the guarantor) that the person who is obtaining credit (the debtor or borrower) will keep to all the terms and conditions of their contract ...
Incorporation is a process by which a company is formed. Every company has to be incorporated (or registered). It is the process by which a business registers and gets a state charter ...
When a person in business or in partnership (with unlimited liability) is unable to pay their debts when they become due, they are said to be insolvent. As soon as someone is unable to pay ...
Intellectual Property, (also abbreviated as IP), is property that is created with intellect. You may have developed a design or written a manual or created a program ...
The main difference between a joint venture and a strategic alliance is in the formality or permanence of the arrangement. A strategic alliance can be no more than an agreement between the parties ...
New Zealand has an independent judiciary. The Governor General, on advice from the Prime Minister, appoints the Chief Justice. The Governor General also appoints judges ...
A lawyer is a professional, specialising in the Law and who represents you in all legal matters. Today a lawyer is generally someone who is both a solicitor and a barrister and is qualified ...
A lien is the right that you have to retain possession of someone’s property until they have paid the amounts that is lawfully owing to you. A retailer has a lien over goods until payment has been made in full ...
Liquidation applies only to companies. A company goes into liquidation even though it is sometimes said that a company has gone bankrupt. The term bankruptcy applies only to non-companies ...
A non-disclosure agreement is used when you have an otherwise unprotected idea that you want to show to a third party and you want the information you share with them to remain undisclosed to other parties ...
A partnership can be defined as; two or more people or organisations carrying on a business together with a common goal of making a profit. It is an association of two or more persons carrying on ...
A patent is a right granted, giving you exclusive authority or right to commercially exploit your invention for a particular period. The right is granted for any device, substance, method or process ...
A prospectus is a document which contains specific financial information that the securities watchdog in New Zealand and the stock exchange require from companies who are issuing stocks ...
A receivership comes about when a company defaults on its secured borrowings. These borrowings are usually from a bank or another lending institution that has in place a security for their loan ...
In New Zealand, protection is provided to designs through the Designs Act 1953 ("the Act"). A registered design is used to protect the external appearance of a manufactured article, rather than the article itself ...
When you set up a business you will need an IRD number. This is an eight digit number which the IRD will give you to identify your business for taxation matters ...
Sole proprietor is someone who runs their own business with themselves as the sole owner. They do not run their business as a Trust, Partnership or a Company which are the other main structures ...
Succession planning is a process that presents business owners with a comprehensive and strategic way to arrange the orderly transition of ownership, or management of their business to others ...
An example of a trade secret can be; a formula for a sports drink, a recipe, a new invention where the patent application has not yet been filed, or a manufacturing strategy, etc ...
A registered trademark gives the owner the exclusive legal right to use, license or sell their products within the country in which the trademark has been registered ...
Trusts are becoming a popular way to structure business and personal affairs. If you are considering using a trust in any way, you should be clear on the legal obligations ...
A Will is a document containing your instructions and wishes as to how your property is to be distributed after your death. It is the expression of your wishes concerning the distribution ...