Welcome to part two of Backhouse Solicitors’ three-part series, Independent Legal Advice Explained, where we provide an overview of independent legal advice, including ID1 forms, personal guarantees and joint borrower sole proprietor arrangements. In part one, we explored ID1 and ID2 forms. In part two, [...]
If you are looking to expand your business and brand and are thinking about franchising as an option, there are a few things you should consider. This method of expansion requires careful planning and strict legal processes to become successful so it’s important to do [...]
Starting a business can be challenging and if you are looking to mitigate the risks involved when starting from scratch, franchising could be the right solution for you. Buying a franchise takes some of the guesswork out of opening a brand-new business because it provides [...]
With the ever-transforming use of technology in the legal landscape, digital and smart contracts have become increasingly common in commercial transactions. When utilised correctly, they can be used to streamline processes, reduce costs and enhance legal certainty, but they also present new challenges for legal [...]
At a time when businesses are under increasing scrutiny from regulators, investors, and the public, effective corporate governance is more important than ever. For companies operating in the UK, understanding the legal and regulatory framework is not just about compliance, it’s about protecting your business, [...]
In the UK, there are over 5 million family run businesses, making them a large part of the economy. However, family businesses can be more complex; combining personal relationships with professional ambitions. This can be deeply rewarding, but it also comes with unique legal and [...]
Under the Companies Act 2006, a private company must have at least one director and a public company must have at least two. Directors have various roles and obligations and are responsible for the day-to-day running of a company. Directors can also be shareholders and/or [...]
Partnerships exist when two or more members work together with a view to make profit (i.e. in a business venture) and can exist without any formal documentation or registration. However, in a general Partnership such as this, the Partnership is not a separate legal entity, [...]
Shareholders are individuals or companies that hold the shares of the company and therefore have ownership of the company. Shares and shareholders exist for both Public and Private Limited Companies – this article will focus on Private Limited Companies. Shareholders can also be directors and/or employees [...]
Corporate financing is the process of managing a company’s funding and financial activities to support its operations, growth, and overall objectives. It involves obtaining and allocating financial resources to ensure the business can meet its obligations, invest in opportunities and achieve long-term success. In this [...]
