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Company registration: Half price from 12.01am 1 July 2006.

ASIC has announced that it will halve its company registration fees from $800 to $400 effective from 1 July 2006.

This price reduction will be effective at our payment gateway from the time it become effective.

So from 1 minute past midnight on the night of 30 June, incorporating a new company, with your choice of name, will only cost $537.50.

The price change is expected around 9.30am on Saturday 1 July. Online applications after midnight on 30 June until will be queued until the change takes effect.

So you can register a new company this Saturday or Sunday and have your ACN emailed the same day (usually within 20 minutes) all for $537.50.

Incorporation is so simple.

Take a look at our new demo.

Incorporate now!

More resources: online Companies from www.onlinelegal.com.au

Starting a business: We often have clients ask us about free resources for starting a new business.

The ATO has just published a checklist for new business owners, which is one of the better resources we have seen for some time. I commend it to you.

Checklist for Small Business

You can even download it in rich text format save it to your hard drive and add your own notes to it.

Companies: Registering a company through online legal could not be easier:

1. All fees are paid through one payment gateway, including ASIC fees.

2. There is no need to post or take anything to ASIC. Integration with ASIC is electronic and automated.

3. Free Help Desk via a 1 300 number is available with access to the lawyers who certify the documents.

Forming a company could not be easier with plenty of online hints and tips plus access to a “real person” to help you, if need be.

Have your ACN in 20 minutes.

More resources: online Companies from www.onlinelegal.com.au

eCommerce : I first blogged about this on 19 May and covered:

• Trap 1 - charge-back risk
• Trap 2 - unclear refund and return policies
• Trap 3 - attempt to exclude all warranties
• Trap 4 - unmet expectations Go to part 1.

This is part 2:

Trap 5 - uncertainty about whether a contract is formed

Key Questions:

1. Was it the clear intention of the parties to enter an Agreement?

2. Is it abundantly clear that the customer has consented to the Terms of an Agreement?

For there to be an Agreement the answers to questions 1 and 2 must be yes.

In my view it is generally not enough to have Terms and Conditions on your site. The issues are:

• Were the Terms and Conditions clearly brought to the attention of the customer prior to the formation of an Agreement?
• Has the customer indicated acceptance to an Agreement by clicking “I agree” or similar?

Again, the answers to both these questions must be yes.

Trap 6 - uncertainty about when a contract is formed with a customer

The general principle is that this is at the time of communication of acceptance of the offer (to purchase or sell).

The internet makes this difficult to nail down. Therefore, deal with this very clearly in your Terms and Conditions.

Is the Order a Customer places an acceptance of the offer of goods and services on your web site or is the Order an offer to purchase which you accept by processing the order?

Tip: Whichever one you choose, it should be:

• Clear to the customer
• Consistent across your web site
• Contained in your Terms & Conditions

Trap 7 - uncertainty about where a contract is formed with a customer

This is clearly related to Trap 6, but it can have significant implications as to what system of law then governs the relationship you have with your customer. The system of law then has significant implications on:

• The ease and cost on insisting on compliance with an Agreement; and
• The cost of or ability to obtain any court sanctioned remedies.

This is particularly important for merchants who are supplying internationally. Again, deal with this very clearly in your Terms & Conditions.

End of financial year : Get yourself to the front of the que with your end of financial year structuring with these 24/7 online legal resources:

• Form a Company and obtain an ACN within 20 minutes ($937.50)
• Form a Discretionary Trust ($137.50)
• Form a Self Managed Super Fund ($137.50)

More online legal resources at www.onlinelegal.com.au

Individual or corporate Trustee? This is a question that we are regularly asked when it comes to setting up a trust. Here are some tips to help you decide:

A Corporate trustee is the way to go when any of the following apply:

1. The trust will be engaging in any “at risk” activity - that is activity that could result in liability. In the current climate “risk activity” is really anything other than holding shares, units, bonds or deposits. Reason: The trustee is responsible for liabilities it/he/she incurs for the trust (subject to a usual right of indemnity from the trust).

2. The trust is going to hold real estate. Increasingly this is a “risky” venture anyway. Some States now require more than one individual trustee for registration purposes, or of course, a company.

3. The individual who would act as the trustee is a “high risk” person. By high risk person I mean someone who faces large personal liability, by reason of their occupation for example. While the trust assets are not owned by that person personally, you want to minimise any risk of them being dragged in by a vexatious claimant.

4. If you think it is almost certain that you will change to a corporate trustee in the near future. Reason: Cost. When you change trustee you will need to have a Deed or Retirement and Appointment of New Trustee prepared, stamped and possibly recorded on various registers. Avoid the extra cost, “bite the bullet” now and form the company.

Extra tip: make sure that the shareholder of the trustee company is not a “high risk” person.

Trust resources from www.onlinelegal.com.au:

• Online Discretionary / Family Trust formation
• Online Unit Trust formation

Company resources from www.onlinelegal.com.au:

• Incorporate a new company in 20 minutes 24/7
• Change to a sole director company
• Update your company constitution