News

So you’ve been offered a directorship; now what?!

You may have worked hard for a long me in a company or business and whether you expect it or not, you end up being called into his or her office for a chat! Fortunately, it’s not to present you with your P45 but instead to offer

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Brexit – Moving on…

It seemed almost impossible this week not to talk about Brexit and the effect on the property market though I’m sure that there’s a lot of people who are already starting to groan when they hear the word given the wall to wall media coverage. If nothing else, it seems as if everyone has an opinion – and one which they ‘re willing to share with anyone who will listen – and that least makes for a refreshing change from the weariness and apathy

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D-I-Yeovil winning project is announced

D-I-Yeovil is a really worthy project made possible from the combined efforts of The Western Gazette, Yeovil Round Table and Bradfords Building Supplies. In June, the public cast their votes, leading to five projects being chosen as finalists (see other entrants here) to be considered for the renovation worth £10,000, intended to benefit either a person or group in need.

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Revisiting who owns your business: SBEE Act and PSC Register updates

The Small Business, Enterprise and Employment Act contains a number of measures which represent significant change for companies. The aim is to increase trust in UK businesses and improve the transparency of their ownership and control and in turn it will help combat tax evasion, money laundering and terrorist financing. All companies will be affected in one way or another as some of the changes are to your legal

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Help! My franchisor has gone bust – What now?

Franchising has a number of advantages for both franchisor and franchisee. One of which, centred around the fundamental principle of franchising, is that franchises replicate a tried and tested business model and therefore are thought to be a more stable economic bet than entrepreneurial ventures.

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Protection and Exploitation of a name using Trademark Law: Jose Mourinho

A trademark is reportedly holding up the appointment of Jose Mourinho at Manchester United. In an unusual situation, the media have suggested the deal is being delayed because Chelsea Football Club own, amongst others, the European Trademark to the name ‘Jose Mourinho’ in five classes of goods, which runs until 2025. Of course, Jose still has the right to use his own name but Chelsea own the rights to using his name or image on certain items; effectively merchandising rights which Chelsea retain and presumably continue to profit from.

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MBOs Part 3 – Funding

Quite often, a management team will not be in a position to finance a transaction themselves; lending in one guise or another will therefore be a common feature of a deal; the question will be what form should that take; on one particular deal, we had to cover not just bank funding, but also borrowing against the company’s invoices, smaller investors that had agreed to put in private funds and even a sale and lease-back of assets with a commercial lender, to help raise sufficient cash to do the deal!

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MBOs Part 2 – The Challenges

One of the biggest challenges relates to the time and commitment required by the MBO team; the deal requires significant input from the key members of the team, but the business and their existing roles as employees are in no way diminished; and indeed failing to look after the interests of the target company during the deal process can act as a double-edged sword; they clearly do not want to buy a weakened business, as a result of taking their eyes off the main focus of their usual day jobs. 

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MBOs Part 1 – Selling the company: Is it better the Devil you know?

When it comes to selling your business, whether to move on to a new project, to divest some non-core elements of an existing business or with an intention to retire, a keen management team might prove a better prospect, via a management buy-out (MBO), than a trade sale to a competitor, particularly for the longevity of the business, going forward.

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Finalists in inaugural legal awards

Solicitors Title are delighted to have been shortlisted for Law Firm of the Year (1-10 partners) in the Devon and Somerset Legal Awards.

These awards, first of their kind in the region, are seen as an opportunity to recognise the contribution made by lawyers and solicitors in the West Country. At the DASLS Legal Awards Preview Event, DASLS president, Will Michelmore said: “Solicitors have

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