Tips for Franchisors Selling Franchises

Selling franchises is not easy.  First you have to find the right franchisee, and when you do you need to make sure that all the right legal boxes are ticked to help ensure that there are no issues in the future.  Here are some tips to help you:

Ensure that they know exactly when payments are required to be made.  If you are a member of the Franchise Association of New Zealand Inc. and you require the franchisee to make a payment prior to the Franchise Agreement being signed then you must make the franchisee aware of (in writing) the purpose of the payment, the terms and conditions governing refund or application of the money and who will be holding the payment.

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Beware: Disclosure Rules for Foreign Trusts Have Tightened

In February 2017 the New Zealand Parliament completed its third reading of the Taxation (Business Tax, Exchange of Information and Remedial Matters) Bill which is due to come into law soon. The Bill introduces new laws for the administration of New Zealand foreign trusts.  The reforms are based on the recommendations of the Shewan Inquiry which was set up as a result of the Mossack Fonseca data leak in April 2016 (the ‘Panama Papers’).  The report raised concerns about the need for disclosure rules relating to foreign trusts registered around the world.  The New Zealand Government has decided to enact the new law to ensure New Zealand's reputation is maintained. 

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Why have a Will?

Your will is one of the most important documents you will sign in your life. It has a profound effect on the legacy you will leave your loved ones.

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Why have a Trust?

There are many reasons for creating a trust, and our team of trust experts briefly cover them here.

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Facebook - What the Fine Print Says

Chances are if you are a business, you are already using Facebook to promote your business, build brand awareness and interact with your customers. You may even be using Facebook to sell your goods or services.

If you have a Facebook Business Page then you will have agreed to Facebook’s Statement of Rights and Responsibilities ("Statement") and a number of policies such as the Data Policy, Platform Policy, Payment Terms and Advertising Policy and Self-serve ad terms.

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Reviewing Your Relationship Property Agreement: Nothing Lasts Forever

“Nothing endures but change”

So said Heraclitus some 2500 years ago, and his observation still rings true today.  A relationship property agreement reflects a snapshot of your and your partner’s circumstances at the time it was signed. The recent case of Clayton v Clayton [2015] NZSC 30 sharply illustrates the need to consistently review and update your agreement.

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