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Legal Update May 2012

  The Brave New World Of Business Rescue - Which Companies Qualify? What do you do if your company is in "financial distress"? Help is at hand - the new business rescue procedure is aimed at helping such companies to return to commercial viability, or - where full or partial rescue is impossible - to [...]

Company Structures: Getting the Right Structure is Important to Generate Revenues

Have you ever wondered why there are different companies who are successful in generating revenues, while there are some others who completely fail at it? The most successful companies that are generating a huge amount of profit on a monthly or even yearly basis have the right company structures. This is why it is very important for every business to understand how these structures have to be done. Raising the necessary capital for a starting business may be a bit tough at first, but with the right structures to follow, everything will be done accordingly. Continue reading “Company Structures: Getting the Right Structure is Important to Generate Revenues” »

Announcement – Dealmakers 2011

We proudly announce that we have just been ranked 16th for “Mergers and Acquisitions by deal value” in the whole of South Africa by DealMakers Magazine - Gold Medal Issue.pdf in their legal advisors category. We thank our clients for their valued support and we will continue to use our best endeavours to add value [...]

Legal Update April 2012

Auction Bidders – 5 Rights You Need To Know!   Are you hoping to pick up a bargain at a public auction but are put off by the media uproar over allegations of undisclosed “vendor” or “ghost” bidding?  If so, read on…… Auctioneers and the CPA The Consumer Protection Act and Regulations impose very strict and detailed obligations on auctioneers in regard to how they must advertise and conduct auctions. Which gives you, the bidder, a raft of important rights. Continue reading “Legal Update April 2012” »

Corporate Restructuring – Understanding Processes

Corporate restructuring pertains to the implementation of reorganization in a company from the highest hierarchy going down. This corporate decision can affect areas such as ownership, operations, legal status and financial structure. This decision is aimed at improving the profitability and reducing unnecessary expenditures to save a corporation. Continue reading “Corporate Restructuring – Understanding Processes” »

Shares and Shareholder Transactions – Getting the Necessary Legal Service

The ownership of a corporation lies on the individuals or entities that have shares in the business. The ownership is divided in terms of shares. The shares are attested through a certificate that states the unit of ownership in the business. This share represents the stake of a shareholder in the totality of the business. This setup holds true not only in private but also in public corporations. The shareholders have their corresponding representation to the corporation based on the number of shares that they hold. This certificate also determines the amount of profit that he is entitled to. Shareholder transactions are interests that a shareholder wants to undertake in relation to the processing or disposal of his shares. There are certain activities that involve the exercise of the rights and privileges of a shareholder. These transactions may involve financial considerations and would need valuation of the shares and stakes in the company. Continue reading “Shares and Shareholder Transactions – Getting the Necessary Legal Service” »

The Basics of Shares and Shareholder Transactions

A corporation is an entity owned by individuals whose interest is for profit in the business that the corporation is engaged in. Each corporation divides the ownership in terms of shares to its shareholders. Shares are represented by a certificate attesting the unit of ownership not just in corporations, but even in limited partnerships and mutual funds. Each share represents a fraction of the business and the shareholder becomes a part owner of the business. This is true for both private and public corporations. However, shareholders own a share or shares of stock but not the corporation, per se. Continue reading “The Basics of Shares and Shareholder Transactions” »

Legal Update March 2012

The New Dividends Tax: Read All About It (And A Warning!) From 1 April, STC (Secondary Tax on Companies) will be replaced by DT (Dividends Tax – which, just to confuse the issue, some commentators are calling “DWT” for “Dividend Withholding Tax”). What changes? The rate – 10% – stays as is. But whereas STC is payable by a company when it declares a dividend, DT is payable by the shareholder receiving it. The company must withhold the tax, deduct it from the dividend, and pay it over to SARS on behalf of the shareholder. Reduced rates and exemptions – under STC, exemptions were based on the status of the declaring company. Under DT, exemptions and reduced rates are based on the status of recipients. Thus various levels of exemption apply to dividend recipients who are (for example – this isn’t a comprehensive list) local companies, approved Public Benefit Organisations, pension and similar funds Continue reading “Legal Update March 2012” »

Joint Ventures – Implementation Basics

A joint venture is a legal agreement involving parties interested in engaging in a particular business purpose. This agreement results to the sharing of all profits and losses in relation to the business undertaking. This legal relationship between two or more parties is different from a partnership. A partnership involves the agreement of individuals to form a business or organization with the interest of making profits. A successful joint venture requires that the parties involved combine resources and their expertise to attain the goals set for the undertaking. Continue reading “Joint Ventures – Implementation Basics” »

Understanding the Requirements of a Joint Venture

You may be running your own business but you are seeing an untapped market for a particular product that you can deliver. However, you recognise that there are constraints if you will work on this undertaking as an individual company. You also see that the undertaking or the particular project that you want to implement can be realized if you consider another company or companies to enter into the business. This can be because you need the expertise in a particular business area or because of the financial requirements that need to be satisfied to implement the project. If this is the case, your best option is to enter into a joint venture. A joint venture is a legal agreement between two or more parties for the purpose of managing a particular business undertaking. It is clearly different from a partnership because a partnership requires the agreement between or among individuals to enter into a business for the purpose of making profits. A joint venture is limited to a project or an activity that can be a subset of the bigger business venture. Continue reading “Understanding the Requirements of a Joint Venture” »

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