Posted by Elizabeth Gore-Jones
on 14 February 2024
We have found that it is becoming more common for a purchaser of a business to require vendor finance.
There are obviously risks associated with lending money on the purchase of a business, but certain steps can be taken to help protect the position of the vendor/lender:
1. registration as Purchase Money Security Interest on the PPSR;
2. personal guarantees;
3. registration of security interest over a...
Posted by Elizabeth Gore-Jones
on 12 February 2024
Over the past 20 years, there has been a real move away from granting exclusive territories.
Franchisors used to grant exclusive territories. However, they found themselves in difficult circumstances if the population of the territory grew a lot or otherwise the territory was too big for a franchisee to properly service and the franchisor did not have the right to change the size of the territory.
That resulted in exclusive marketing territories becoming more popular. In these cases, franch...
Posted by Elizabeth Gore-Jones
on 9 February 2024
Yesterday, Dr. Michael Schaper released the independent review of the Franchising Code of Conduct to the Australian government.
He recommended that the Code should be “remade” and should not be allowed to sunset in April 2025.
He did however recommend changes to existing provisions. He also recommended the government evaluate the possibility of licencing franchisees.
He recognised a desire to address persistent issues in the sector without necessarily imposing greater complexit...
