BackgroundPresent entitlements are rights that a beneficiary of a trust has to share in the trust’s income. The two defining features of a present entitlement over trust income are that the beneficiary:• has an indefeasible and vested interest in the relevant trust income; and• has an equitable right to demand payment of the relevant trust [...]
Intellectual property (IP) rights can be a business’ most valuable asset. For example, Forbes reported that while Disney’s 2013 hit Frozen grossed US$1.3 billion at the box office, the licensing of the IP rights accumulated US$107.2 billion in retail sales. Lucasfilm’s astute decision to retain the IP licensing rights for consumer products for the first six Star Wars films [...]
Often the first fundamental question a lawyer will ask when requested to prepare documentation for a sale of a business is: Are you conducting an Asset or a Share sale? Whilst for the most part this is a fairly straightforward consideration, oftentimes buyers and sellers will not fully understand the fundamental advantages and disadvantages of [...]
The Australian Privacy Principles (APPs) require an APP entity (essentially not a small business) to have a clearly expressed and up-to-date privacy policy (APP privacy policy) describing how it manages personal information. The APP privacy policy must be based on and reflect the practices, procedures and systems that the APP entity has implemented to ensure [...]
