Commercial Law
Commercial law in Queensland encompasses a broad range of legal issues that arise in the context of commercial transactions and business activities. These issues can include contract law, corporations law, intellectual property law, competition law, and consumer protection law, among others.
If you are in business, it is important to obtain professional help at the start of your journey and beyond to ensure you are well placed to seize opportunity, face challenges, and minimise personal risk. We act for a range of commercial clients, advising and implementing strategies and legal solutions for the many planned and unplanned events that occur throughout the lifecycle of a business.
Business Structures
Obtaining guidance from a lawyer can assist in forming the right strategy to commence your venture. We can help you choose a business structure that best fits your business and personal goals and objectives.
If you are starting out on your own, operating as a sole trader is a simple option. However, under this structure you will be responsible for all debts and liabilities which the business incurs.
A partnership may be ideal if you are going into business with like-minded individuals. In a partnership, however, the partners have joint and several liability for all the partnership’s debts and there can be conflict between business partners. A partnership agreement can help steer the direction of the business and manage a range of issues and potential disputes.
A limited liability company is registered with the Australian Securities and Investments Commission. It operates as a separate legal entity and may provide the officeholders a certain level of personal protection from liability.
To maximise the protections provided by a company, a trust may provide certain tax benefits, however, it may be more costly and complicated to manage.
Contract Law
Contract law is a fundamental aspect of commercial law, as it governs the formation, performance, and enforcement of contracts. A contract is a legally binding agreement between two or more parties, and can cover a wide range of transactions, such as the sale of goods or services, the leasing of property, or the provision of professional services. The law of contract in Queensland is primarily governed by the common law, as well as various statutes, such as the Australian Consumer Law.
Corporations Law
Corporations law is another important area of commercial law in Queensland, and governs the formation, management, and regulation of companies. The Corporations Act 2001 (Cth) sets out the framework for the regulation of companies in Australia, and covers issues such as company registration, directors’ duties, shareholder rights, and insolvency.
When a company is registered, one or more directors are appointed to conduct the company’s affairs. Directors have several responsibilities under the common law and statute, including to:
- run the company with care, skill, and diligence
- prevent insolvent trading (i.e., not allow the company to operate when it cannot meet its debts)
- act in good faith and in the best interests of the company
- maintain proper records and prepare financial reports
In challenging circumstances, directors can be at risk of breaching these duties. If you are uncertain about your position as a director, or your company is facing financial problems, we can provide considered strategic advice.
Intellectual Property
A business’ intellectual property is a valuable commodity. It includes trademarks, patents, copyright, and designs. Intellectual property rights are important for businesses that rely on their branding, innovation, and creative works, and can provide a competitive advantage in the marketplace. The law of intellectual property in Queensland is primarily governed by federal legislation, such as the Trade Marks Act 1995 (Cth) and the Copyright Act 1968 (Cth). We can help you protect your intellectual property through trademark registration, licensing agreements, or by enforcing your copyrights against infringement.
Competition Law
Competition law is designed to promote fair competition in the marketplace, and prevent anti-competitive conduct, such as price fixing, market sharing, and monopolisation. The Competition and Consumer Act 2010 (Cth) sets out the framework for the regulation of competition in Australia, and includes provisions relating to restrictive trade practices, consumer protection, and product safety.
Consumer Protection
Consumer protection law is designed to protect consumers from unfair practices and unsafe products. The Australian Consumer Law, which is incorporated into the Competition and Consumer Act 2010 (Cth), sets out the rights and obligations of consumers and businesses in relation to the sale and supply of goods and services, and includes provisions relating to misleading and deceptive conduct, consumer guarantees, and product safety.
In addition to these areas of commercial law, there are a range of other legal issues that can arise in the context of commercial transactions and business activities, such as taxation law, employment law, and environmental law. Commercial law in Queensland is a dynamic and evolving area of law, as businesses and industries continue to adapt to changes in the economic, social, and technological landscape.
If you need assistance, contact [email protected] or call 0403 017 636 for expert legal advice.