Wave Flux

There is a great deal to know about property law and what makes it more difficult is that it changes in some way for each state. So if, for instance, you decide to buy a home without consulting a commercial lawyer, you could well do your research from a website that is not in your state unless you are very careful.

Buying and selling real estate is a legal process. There are contracts that need to be drawn up and the wording of them is extremely important, especially in cases that are not cut and dried. While some people feel that all they need is a conveyancer to help them finish the process, it is possible that they are leaving themselves open to fraud, or to loss of some kind that they didn’t expect. And there are many ways by which you can lose money.

For instance, a person purchases a block of ground in a country town, with the intention of building a home on it. They connect the power and water to a shed they built first, then find out that the council won’t allow a septic system in the house because the block is too small. The only toilet they can have is an enviro-toilet, but they don’t like that kind – and neither do any of the other buyers who come to inspect the block.

(more…)

Many people go through the trauma of divorce and a large part of the bad feeling is due to deciding what a fair property settlement is. Mostly, the two who are divorcing cannot agree on this question and it must be left up to the family lawyers to decide, or the courts, if an amicable settlement cannot be decided on.

It is often assumed that a 50/50 share of all assets and debts would be the fairest solution, but it is not that easy. For a start, one party may have had a lot of assets – or a lot of debts – before they even got married. It hardly seems fair that their ex-spouse has to be responsible for half of that. Then again, one partner may have received an inheritance or compensation for injury, so is the other party entitled to a share of that?

In their legal framework for working out a fair divorce settlement, the Family Law Act never assumes that a 50/50 split is fair. In fact they actually state that it is very likely that such a split would not be fair because there is too much else to consider.

• The assets and debts have to be correctly identified and valued to start with and often there is non-disclosure by one party that is difficult to get around.

(more…)

Intellectual Property (IP) comprises a series of legal ownership claims that include trademarks, copyrights, patents, trade secrets and industrial design rights. Small businesses or startups focus less on IP and consequently involve in lawyers in expensive legal issues. This article shares useful tips to help entrepreneurs guard their ideas and IP policy.

Tip#1: Solemnize Ownership Agreement   

A precise agreement formalizing the ownership among the people involved in the business should be made. The agreement should clearly state the business owner/s and how the dividends created by IP will be shared among the founders; upon company’s expansion or merger.

Tip#2: Spend Wisely on Patent Filing

Patent expenses should be focused on strategic IP protection because patent filing is expensive. Sensitive business ideas and core  patent-able schemes should be revealed to a selected few who have agreed to sign a Non Disclosure Agreement (NDA). Consult a legal professional and opt for a provisional patent application first with the U.S Patent and Trademark Office (USPTO) is an intelligent way for creating temporary IP protection.

Tip#3: Protect Writing Materials

To protect manual, guide, documents and publicity material from infringement, U.S. law supports copyright notices since 1989. Therefore, to avoid legal hassles in the future, ensure that your company stamps all the materials with the copyright symbol or the word “copyright” and the year of creation and first publication.

(more…)