Why You Should Get a Legal Health Check

With the ongoing Coronavirus pandemic causing an unprecedented disruption to the Australian economy, it is more important than ever for people and businesses to be aware of their legal and financial risks. A legal health check is one of the best ways to identify such risks and devise strategies to protect against them in the short, medium and long-term.

Here are the some of the major areas that a legal health check will cover:

 

Business Structures

People who are starting or running businesses should consider whether their business structure protects them from risks and personal liability. Some business structures inherently provide more protection from others. A legal health check can review the current structure of a business and provide advice on whether changes should be made.

Asset Protection

Many people who own assets under their own name may not be aware of the risks they are facing in exposing these assets to creditors and other parties. Legal health check can review a person’s personal and business assets and provide advice on structures such as family trusts that can minimise their personal exposure.

Intellectual Property (IP)

Business owners who own valuable IP need to ensure that the IP is well protected from creditors and other claimants. A legal health check can identify all the IP owned by the business and provide advice on how the business can protect its IP including the aforementioned IP license agreement.

For further information or enquiry on the above, please contact us