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Chris Chua & Associates - Lawyers, Attorneys, Legal Services

 


Chris Chua & Associates
Contact:
Address: 314 Tanglin Road #01-16 & #01-17 Phoenix Park Office Campus Block E
Singapore 247977
Tel: (65) 6222-7500
Fax: (65) 6733-4700
e-mail: info@ccnalaw.com 
Website: http://www.ccnalaw.com 
Categories: Lawyers, Attorneys, Legal Services
Company Profile: Singapore Legal Consultants, Singapore Lawyers, Attorneys, Singapore Legal Services Company.
 
We advise businesses in all stages of its life cycle - from start-up and growing it through acquisitions and restructures; to retiring from the business by selling or handing it over to the next generation. Your business too will face different funding, organisational and legal challenges as it goes through different stages of its life cycle.

It happens quite often that lawyers are branded the "spoilers" and the "deal breakers"; that they cause business deals to be aborted by letting legal issues cloud business goals and commercial imperatives.

Being your lawyer, our responsibility is to protect your legal position. When business imperatives prevent us from protecting your interests fully, we bring awareness of the risks to the forefront so that your business decisions are always INFORMED decisions; made with full knowledge of the risks involved. Our approach: Better to go in with your Eyes Wide Open, than to Plunge in Blindly, Hoping for the Best. While we cannot insure you against business risks, we always have your best interest at heart.

Here is a cautionary tale - believe us when we tell you that it happens more often than we like, to the best and worst of our clients.

Our client was very excited about the prospect of new business through a joint venture with another company. The joint venture partner were friends whom they knew well. Negotiations were conducted cordially over lunch and dinner. Being a lawyer (as always) looking out for our client, we proposed to draw up a simple "joint venture contract" setting out the agreement reached by our client and their friends on the scope of each parties' contributions, responsibilities and share of profits.

When presented with the contract, their friends were livid; they called our client saying that the contract is inaccurate and that the lawyer was misinformed, misleading and missing the point. In fact, they claimed to have been insulted that our client even consulted a lawyer for what was, essentially, a venture between good friends based on mutual trust and friendship. They were, in short, not prepared to sign any contract.

Our client wanted the new business enough to forgo "the legalities" - which was how our efforts had been belittled by their new joint venture partners.

Barely six months into the new business, our client was back in our office. Not because they wanted to sue their joint venture partners for not making good on their verbal promises (this came later), but because they were now facing a court action by third parties seeking compensation for failure to deliver on services which were the responsibility of their joint venture partners.

Getting ready to launch a new venture? Improve your odds for success by making sure you have a lawyer on your side. Why?
Building up a business is just like constructing a building – solid foundations must be laid. Without sound foundations “cracks” will eventually start to show and it might be costly to salvage a bad situation later. There is a multitude of legal issues to think about when it comes to starting your business. Everything from your business name to its structure to its operation has legal impact.

What We Can Do For You
Business Planning & Strategies - As trusted legal advisors to small business in myriad different industries, we not only offer our experience and insights into how other businesses achieve success; we are also well placed to connect you with potential partners and investors.

Choose the Right Business Structure - Did you know how many types of business structures are available to you? Sole proprietor, partnership, limited liability partnership (LLP), limited partnerships, private limited company and company limited by guarantee - each structure offers different benefits to suit varying business purposes. We advise on the best corporate structure for your business and prepare and file the necessary documents with Accounting And Corporate Regulatory Authority (ACRA). We also advise on and draft your governing documents such as the Shareholders and Partnership Agreements.

Licenses & Permits - Ignorance of the law is no excuse if you are operating a business without the appropriate permits and licenses required by the different government regulations. From to regulatory filings under the Companies Act, to industry specific licenses and permits, to employment passess; we can do the legwork (and the paperwork) to ensure that you comply.

Securing Your Business Premises - Believe it or not, leases are frequently negotiable. We will negotiate your business leases and ensure that the agreement fairly allocates rights and responsibilities between you and your landlord and addresses all issues that may cause problems in the future.

Employment & Partnerships - No business succeeds without help from loyal and dedicated employees, trusted suppliers and a thriving network of business partners and associates. We will negotiate, review, draft and advise on employment contracts and employee benefits or compensation plans; supplier and vendor contracts; and non-compete and non-disclosure agreements for staff and collaboration partners and business associates.

Funding - Funding is one of the first concerns of any new business. Unless you have personal assets or can tap into personal sources of income, you are likely to need a bank loan or will be seeking investors. We can advise on the different financing options available to fund the growth of your business from debt financing and mortgage loans to venture capital and angel investors.

Insurance & Protection from Lawsuits - For a start-up business, lawsuits can be a death knell. Already strapped for time and money, you simply can't afford the financial and emotional stress that comes with legal wrangling. We advise on public liability (or product liability) insurance; fire insurance and other types of coverage suitable for your business; we audit your standard contracts and internal structures to minimise the risk of legal issues arising. In short, we look out for you.

Debt Recovery to Manage Cash Flow - Cash flow problems can put a small business under very quickly. As lawyers we will advise you to take a hard look at your delinquent accounts and your debt recovery policies. We will help you put in place standard collection procedures, including template letters and reminder triggers to ensure that you are collecting as hard as you work for your clients and customers. The survival of your business may depend on it.

Contracts for Business Operation - One of the cardinal rules of business is - Put Everything In Writing. Disputes arise when you leave room for doubt (and for unscrupulous clients or contractors to exploit the loophole). We negotiate, review, advise on and prepare all types of business contracts; including sale and purchase agreements, service contracts, distribution and agency agreements, vendor and supplier agreements.
 
     
     
 

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