What is the significance of a business name

Assignment Help Other Subject
Reference no: EM132280243

Assessment : Research Assignment Scenario

Scenario

You are a trainee solicitor in Delaney Williams, Lawyers and Consultants. You work for Jo Delaney.

The Client Matter

Long-time university friends, Renae, Wendy and Jacqui have set up a business providing smart recycling bins for homes in the Western suburbs of Melbourne.

The business has been operating for six months and is enjoying great success. (The friends have deferred their studies for a year)

They have registered a business name, HomeSmart re-cycling. They have developed a new recycling method from Wendy's home in Footscray. It allows them to rapidly decompose food and plastic scraps so that they can be broken down and used for a variety of purposes on home gardens etc.

They have made a business pitch to Footscray City Council. This innovation will allow the Footscray City Council to drastically reduce the weekly kerbside collection down from three weekly bins- general rubbish (red lid), garden waste (green lid) and recyclable plastic etc (yellow lid) to just one bin. They are planning to further adapt their process so that in due there are no kerbside collections- that is recycling all of the general waste, too.

They have sought to register the intellectual property of the work-in-progress process called HomeSmart EcoTransfer (the process).
Footscray City Council (FCC) wants to enter a contract with HomeSmart on an urgent basis to replace the yellow and green bins for its 20,000 homes/ ratepayers.

FCC will pay them a sign on fee of $300,000 plus $50 per household in the first year to remove the bins and oversee the installing of 20,000 HomeSmart Bins using the process.

The Chief Operating Officer of MCC has sent a draft contract to HomeSmart for consideration. If the FCC deal gets signed, HomeSmart will also need to lease factory premises asap on a one year plus one year plus one year lease.

Legal Issues

1. The friends have been told the business name is not important. What is the significance of a business name, and does it help secure the same company name?

2. The friends have been told they have been in a quasi-partnership. What is this, and what are the legal ramifications for them?

3. If they want to incorporate, what is involved, and what type of corporation would you recommend. Please also set out the relevant steps.

4. Can the business enter into a contract now with FCC, assuming the business later becomes a company? What is the process, and what are the risks?

5. Is the company, when established, obliged to distribute its annual profits?

Required

Please provide a memorandum of preliminary advice on the five issues referred to above.

The memorandum is from you as the trainee addressed to Jo Delaney, lawyer, containing advice on the legal issues and risks, and relevant commercial implications, of each of the five issues referred to above.

Reference no: EM132280243

Questions Cloud

Maintain a constant body temperature in humans : Explain how the following processes help maintain a constant body temperature in humans.
What was the revenue recognized in March : Without preparing an income statement, determine the actual net income for March. What was the revenue recognized in March
What are the 3 protozoan groups : What are the 3 protozoan groups (Vorticella, Paramecium, Amoeba, Stentor) that have something in common and what are their commonalities?
Determine equilibrium quantity using given data : Assume that demand for a commodity is represented by the equation P = 20 - 0.6 Q d, and supply by the equation P = 10 + 0.2 Qs where Qd and Q s.
What is the significance of a business name : Long-time university friends, Renae, Wendy and Jacqui have set up a business providing smart recycling bins for homes in the Western suburbs of Melbourne.
What would you expect to happen to her neurons : What would you expect to happen to her neurons and muscle cells if she didn't have enough extracellular sodium?
Discussing the function and structure of epithelial : Discussing the function and structure of epithelial, connective, muscle, and nervous tissues. Mention where each would be found in the body.
Calculate the price of the bond : Suppose the market interest rate is 10%. Calculate the Price of the bond and indicate whether it is discount bond or premium bond
What is the difference between the federal food : 1. What is the difference between the Federal Food, Drug, and Cosmetic Act (FD&C Act), FDA regulations, and FDA guidance

Reviews

Write a Review

Other Subject Questions & Answers

  Cross-cultural opportunities and conflicts in canada

Short Paper on Cross-cultural Opportunities and Conflicts in Canada.

  Sociology theory questions

Sociology are very fundamental in nature. Role strain and role constraint speak about the duties and responsibilities of the roles of people in society or in a group. A short theory about Darwin and Moths is also answered.

  A book review on unfaithful angels

This review will help the reader understand the social work profession through different concepts giving the glimpse of why the social work profession might have drifted away from its original purpose of serving the poor.

  Disorder paper: schizophrenia

Schizophrenia does not really have just one single cause. It is a possibility that this disorder could be inherited but not all doctors are sure.

  Individual assignment: two models handout and rubric

Individual Assignment : Two Models Handout and Rubric,    This paper will allow you to understand and evaluate two vastly different organizational models and to effectively communicate their differences.

  Developing strategic intent for toyota

The following report includes the description about the organization, its strategies, industry analysis in which it operates and its position in the industry.

  Gasoline powered passenger vehicles

In this study, we examine how gasoline price volatility and income of the consumers impacts consumer's demand for gasoline.

  An aspect of poverty in canada

Economics thesis undergrad 4th year paper to write. it should be about 22 pages in length, literature review, economic analysis and then data or cost benefit analysis.

  Ngn customer satisfaction qos indicator for 3g services

The paper aims to highlight the global trends in countries and regions where 3G has already been introduced and propose an implementation plan to the telecom operators of developing countries.

  Prepare a power point presentation

Prepare the power point presentation for the case: Santa Fe Independent School District

  Information literacy is important in this environment

Information literacy is critically important in this contemporary environment

  Associative property of multiplication

Write a definition for associative property of multiplication.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd