Legal Tips on How to Run a Company

– 3 Things You Should Know About AGMs

Holding a company’s Annual General Meeting or AGM is one of the most important statutory requirements under the Companies Act. An AGM is a mandatory meeting of shareholders. There are three important things that directors who form a company should know about AGMs.

First, during the AGM, the company will present to the shareholders or members its financial statements, which may then raise queries with regards to their investment or other matters. Secondly, all members must receive notice of the AGM in writing. And thirdly, for the meeting to be considered legally valid, you will need a quorum, which is the minimum number of people required to be present during the meeting.

It is important for directors who start a company to hold its AGM on time. A delay or failure to do so, will incur a penalty which is imposed on the company or legal action which is taken against the directors of the company.

· Maintenance of Share Capital

Under the law a company is not allowed to use its share capital for any other purpose other than trading and conducting business. However, there are certain circumstances under which a company is permitted to alter or reduce its share capital, if this is allowed under its Articles. In such a case, the following alterations are permitted.

The company may consolidate and divide its share capital, convert paid-up shares into stock and vice versa, subdivide shares, cancel shares or unissued capital. Once these alterations have been completed, individuals who form a company should lodge a notice of alteration with the ACRA. Under section 71 of the Companies Act, a cancellation of shares is not regarded as a reduction in the company’s share capital. A company may also reduce its share capital with or without court sanction. This may involve cancelling or reducing liability on shares that have not been paid up, canceling paid up share capital or returning paid shared capital to members.

It is important to note that business owners who start a company are not allowed to return any of their assets to members with the exception of dividends which are to be paid out of profits. It is advisable to seek professional advice should you decide to alter or reduce your company’s share capital.

· When and How to File Your Annual Returns

Directors who form a company must ensure that they file their Annual Returns or AR. Filing of Annual Returns by companies is a requirement under law which must be complied with within one month of holding the company Annual General Meeting or AGM. A delay or failure to do so, will incur a penalty which is imposed on the company or legal action being taken against the directors of the company.

Even companies that dispense with holding their AGM are still required to file their AR within one month from the date that the resolutions were formally agreed to. This requirement also applies to dormant companies which are required to file their AR within one month of holding their AGM. Such an AR will only contain a declaration by the directors that the company has been dormant and under what circumstances. Exempt Private Companies are also required to file their AR within a month of their AGM.

· Why Employers Should Implement Work Life Harmony Strategies

With the present day competitive nature of businesses, it’s important for companies to take care of the well-being of their employees if they hope to prosper. Work Life Harmony strategies are implemented by employers to assist their employees in the management of work responsibilities, as well as their personal and family needs. A Work Life Harmony strategy encourages increased productivity and shareholder value, improved employee engagement, improved attraction and talent retention, improved customer experience, reduction in health-related costs such as medical leave and absenteeism, as well as promoting a workforce that is satisfied and more motivated.

· Outsourcing – Is This a Good Thing?

Today, a majority of banks and finance companies are turning to outsourcing some of their business functions overseas. This is due to a shortage of skilled workers and cost savings. There are various pros and cons to outsourcing functions overseas. The main advantage of outsourcing is that directors who form a company are able to keep costs down, as well as recruit staff to perform certain finance and accounting functions locally. One the other hand, the downside of outsourcing is that the company could end up with low quality services and products, as well as the loss of intellectual property. Before you turn to outsourcing, it is important for company directors to weigh the pros and cons of this venture.

 

Legal Tips to Eliminate Unsecured Debts

According to most financial analysts, debt relief options in 2010 have been more successful as compared to the year 2009. One reason is that 2009 was the year in which recession was in full flow. Hence, financial companies were finding it hard to combat this unusual problem. Due to scams, a lot of people do are not finding debt relief options in 2010 trustworthy. One of the reasons is scams. Loan takers are not knowledgeable about settlements and they are picking illegal firms. These companies are robbing credit card holders by using unauthentic methods. To avoid this situation, you need to be more aware as a debtor.

Scam identification points

All the companies which demand advance payments from the customers are illegitimate. They are counterfeiters who are not interested in providing authentic services to the loan takers. Legal debt relief options in 2010 have increased as compared to 2009. In addition to that, more people are hiring liability reduction companies because the awareness about liability settlement has increased.

Checking the performance of settlement companies

It is important to have a good look at the company which you are hiring. However, you need to look at organizations which are suitable for your case. How do you select the suitable firms?

1. Look at the experience which the firm has. Firms which have experience charge more than newly established ones. You need to see how much you can pay. It also depends on the size of your liability. For instance, there is no point in paying a heavy sum if you have a small liability. According to regulations, you need to have a liability of ten thousand dollars or more if you want to apply for reduction.

2. What kind of settlement cases have been handled by the company? If it has handled complex situations, you can consider it as one of the options. Get a free counseling advice from one of the company representatives. Analyze the opinion and see how help is provided. A legal firm does not take any money for providing an advice.

3. All the firms which you have extracted for comparison should be registered with relief networks. You should check the records of the company even before you start communicating. Try not to waste any time because when the recession period reaches an end, settlement firms will find it hard to survive. Debt relief options in 2010 are used by loan takers who have scarce time available to clear their accounts.

Getting out of debt through a debt settlement process is currently very popular but you need to know where to locate the best performing programs in order to get the best deals. To compare debt settlement companies it would be wise to visit a free debt relief network which will locate the best performing companies in your area for free.

 

Legal Tips for Using Social Media

Without a doubt, social media has introduced a whole new world of opportunity for citizen journalists, bloggers and others looking to share their stories and ideas in the public arena. Unfortunately, it’s also introduced a host of ways to violate intellectual property laws. From Pinterest, Twitter and Instagram to blogs, Facebook and Google+, social media makes it easy to unknowingly infringe on others’ copyrights.

If you want to participate in social media, here are six things you need to know.

1) Fair Use

If you participate in social media, it’s good to understand “fair use,” a tenet of copyright law. Essentially, the fair use rule allows you to use other people’s material (e.g., photos, art, music, videos, ideas, articles, etc.) if you use only portions of it – as opposed to the entire copyrighted work – for criticism, comment, teaching, research or news purposes. The idea is that using it for those purposes means you’re using it fairly rather than just getting ahead by co-opting someone else’s hard work.

2) Transformative Use

It’s also best to use it in a “transformative” rather than derivative way, meaning that you somehow add to the original content. With a recipe, for example, you can add to the ingredients or adjust the cooking process. With a work of art, you may add praise, criticism or comment on the message it conveys.

3) Attribution

If you are using someone else’s original material, give them credit. Give attribution to the original author of a quote or passage, the composer and/or singer of a song, or the name of a photographer or visual artist. If the material exists online, include a link to that original content. Copyright laws are intended to protect creators’ markets. If your use of their material affects their market, you could be infringing on their copyright.

4) About Pinterest

With more than 4 million unique users every day, Pinterest has sparked many conversations about copyright law. If you use Pinterest, you need to be sure you follow the above rules because when you signed up, you agreed that all risk arising out of your use of the Pinterest site is your responsibility (even legal fees that Pinterest may encounter because of your actions). Some experts have likened Pinterest to Napster, suggesting you may face some risk using the site, even if you do attribute, though the risk to an individual is likely small. Repinning, however, doesn’t fall under copyright infringement.

5) Safest Bet

If you want to use other people’s material for any use – fair, transformative or otherwise – your safest bet is to get permission from the copyright owner. It’s not always easy, but if the material is for something truly important, it’s the wisest step to take.

 

Legal Tips to Avoid Paying Back Credit Card Debt

paydebtOne of the legal tips to avoid paying back credit card debts stars with outright stop payment. As you read and learn more you will realise there are ways through which one can avail legal tips to avoid paying back credit card debts.

As we go on using credit card for our daily expenditure, we don’t realise how deep we have gone into the debt trap. It is only when we start defaulting on repayment that we realise, how difficult it is to come out of credit card debt. If recession has made the matters worse than it is recession which also helped elimination of debt in the easiest possible way.

There was time when the easiest legal tip to avoid paying back credit card debt was declaring bankrupt. When debtors failed to repay the money borrowed they simply declared them self bankrupt. But in modern times when credit histories of debtors are easily transferable, it is wise to carry a clean credit history for future transaction. So it is not wise to call oneself bankrupt. Instead one should try to clear all his debt with possible legal help and move forward.

As we realise that there are legal tips to avoid paying back credit card debt, next thing to do is find out what are those. As per experts the best possible legal option is to take help of debt Relief Company. The company make such an arrangement with bank that a debtor doesn’t have to pay full amount that he owes but only what is left after negotiation. How much amount to pay or how much waiver to avail is entirely dependent on the relief company’s expert negotiation skills.

Many a times a settlement company had succeeded in availing discounts as big as 70%. Whatever left is then paid on easy monthly instalment during a period of 1 to 2 year time. Such arrangements are absolutely legal with no hidden conditions. The most important point to be taken care of is that not all the debt relief companies are legal. There are cases of fraud and bogus company posing as genuine and duping innocent debtors.

Therefore, one of the most important legal tips to avoid paying back credit card debt is to find and hire a debt relief company of repute, a debt settlement company which has a history of successful track record. There are many such companies which one can select through internet.

Getting out of debt through a debt settlement process is currently very popular but you need to know where to locate the best performing programs in order to get the best deals. To compare debt settlement companies it would be wise to visit a free debt relief network which will locate the best performing companies in your area for free.

 

Legal Tips Every Medical Practice

There are several federal and state laws governing the provision of health care in the US. Medical practices that are unaware of the legal implications of these laws are at a distinct disadvantage, because it limits their ability to fully comply with legal and ethical issues. In this regard, there are some important legal tips that every medical practice should be aware of, as it relates to matters such as entity formation, patient care, and compliance with Medicare and Medicaid (Medi-Cal for California).

Entity Formation

Medical practitioners should ensure that proprietorships are in keeping with relevant statues and regulations. Health care providers desiring to form their own medical entity should be careful to comply with licensing and permit requirements, as well as other laws governing the formation of medical practices. In particular, they should scrutinize the specific laws that stipulate the permissible ownership and management structure. In some states like California, there are restrictions on the entities that certain categories of health care providers can operate.

Ensure Compliance with State and Federal Health Laws

The privacy and security of medical records are safeguarded by federal and state health care laws. The Health Information Portability and Accountability Act (HIPAA), is a federal law that recognizes the sensitivity of patient medical records. HIPAA has therefor instituted a number of checks and balances to prevent those records from being used improperly. HIPAA defines identifiable health information that can be transmitted as protected health information (PHI), which must be secured.

Medical practices and providers are obliged to comply with HIPAA, and therefore need to set up a compliance unit with staff that is fully aware of compliance related policies. The compliance unit will be able to prevent violations of law. California also has several state laws that medical practices must adhere to, relating to the protection and security of health information. Medical providers often need legal assistance to help negotiate the web of regulations that are out there.

Dealing with issues of non-payment by insurance companies

At some point in their existence medical practices are going to be confronted with the troublesome issue of nonpayment by insurance companies. They are therefore advised to be proactive and not sit back when independent practice associations (IPAs), fail to make good on payment. ‘Slow payment’ often results in ‘no-payment,’ therefore physicians ought to persistently follow-up the IPAs for payment, as soon as there is any delay. They should also seek legal assistance where necessary.

Avoiding Medicare Overpayment issues

Billing errors can lead to serious consequences for a medical practice, so it’s important to avoid Medicare overpayment issues. Physicians should therefore ensure that their billing system is accurate, and services are being billed correctly. It’s often advisable to seek the assistance of health care attorneys in this regard, as they are well placed to provide the necessary guidance and oversight.

In the event that an overpayment is made, the medical provider should promptly make a report as stipulated by the Affordable Care Act. Under the Affordable Care Act, physicians are required to report any payment violation within 60 days. Failure to do so can result in them being held liable under the False Claims Act.

Dealing with dual eligible patients

In California this relates to patients that have both Medi-Care and Medi-Cal. Patients that fall in this category may be eligible for Cal MediConnect. Cal MediConnect was implemented to streamline the provision of health care for dual eligible beneficiaries, and forms a part of the wider Coordinated Care Initiative (CCI).

Physicians need to understand the registration process, as well as the implications that will ensue for their medical practice, as a result of the Cal MediConnect program. In particular, they should have a good understanding of issues relating to enrollment and billing, as well as the how they will be impacted if patients opt out of MediConnect.

In California, the statutes and regulations regarding medical practices are varied, and very often health care providers are unaware of the legal nuances that can affect their practices. However, by retaining the services of an experienced healthcare attorney, they can gain a better understanding of the health care laws.

 

Legal Tips For Home Owners

legalPersonal home is just like a heaven in the world. Having your personal home is like a dream come true but there are many complexities and legalities associated with it.

It is in the best interest of you to complete all legal formalities before and after purchasing the house. These legal procedures can save you from much bigger problems and tensions. Some of the important legal tips for home owner that you must take care of are given below:

Documents Verification

Verification of documents is one of the critical issues in purchasing your personal home. You must verify all the related legal documents of the property. It is advised that you should perform this verification process either yourself or through some legal firm.

You must also check that there should be no financial liability over this property. If you are buying this house on behalf of actual owner, then you must verify the validity of his / her power of attorney.

Advertisement

This is the first step which you have to take before purchasing your desired house. You should advertise in local newspapers about your intentions to purchase the specific house. The advertisement should clearly state that if somebody has any legal right over this property, he / she can contact you within the given time frame.

Proper Documentation

It is your most important duty to prepare all concerned legal documents which are compulsory to prove your ownership. This documentation may include preparation of lease agreements, registry papers, transfer deeds, sale deeds, no objection certificate, non encumbrance certificate and the clearance from all utility departments like electricity, gas, water and sewerage.

Mode of Payment

It is considered a good deed in favour of you to make all the payment of your new home through bank. This will make a proof of your payment about the purchased property.

Registration

Now you have become the owner of your personal home so it is your responsibility to register your home with all concerned governments departments. You may register this property to cantonment board, Municipal Corporation, local government department of land, union council or any other institution.

Utility Connection

It is a better approach to have all utility connections on your personal name. If you have purchased an already built house then you should transfer all connections to your name by giving application of transfer. If you have built a new house yourself then apply for the new connections on your name.

Issuance of Power Of Attorney

You should not issue any kind of power of attorney to anyone for any purpose. If you are willing to transfer your share to your family or anyone else then it is advised to do it with your will papers rather than issuing the power of attorney.

Insurance

It very important to get insurance policy for your home as it will insure your home from any accident like theft, fire, earthquake or any sort of natural disaster.

Some people are against the insurance policy of houses. They are unaware of the terms and conditions of the policies and assume it as wastage of money. However the fact is that if you adopt right policy then it is in your best interest of you as you can claim for the damages caused to your home in case of any disaster.

Rent Agreements

There can be the case when you are not interested in living in your own house and want some portion of it to be rented out or have a paying guest in your home. In such scenarios it is advisable to make proper agreement / deed about the rent and other related terms and conditions. Also you should check and verify the character of your tenants.

 

Pre-Paid Legal Services Review

In this Pre-Paid Legal Services review, I will be offering information pertaining to the history of this company, the legal services that they provide to their members, and the business opportunity that they offer. Does Pre-Paid Legal Services offer the best home based business for you and your family? Lets begin my Pre-Paid Legal Services review.

Previously known as The Sportsman’s Motor Club, Pre-Paid Legal Services was founded by Harland Stonecipher in 1972. Pre-Paid Legal offers legal expense plans for a low monthly fee of $26 per month or lower, depending on the level of legal representation or services you desire. The services that they offer will benefit individuals, families, and businesses alike.

Similar to the way that health insurance companies have contracts with local health care providers, Pre-Paid Legal has contracts with provider law firms. If you need legal assistance, you just simply call your provider law firm on your membership card.

To become an Independent Associate, the cost to do so is $72. For this price, you will be provided with sales aids and business materials, certified field training, and home office support among many others to assist you with achieving a successful start in your new business.

As an Associate, you will be provided with 3 ways that you can make money with Pre-Paid Legal. These include:

1. You will receive immediate compensation as you successfully sell any of their legal plans such as Individual Memberships, Employee Benefit Memberships, Business Plans, Commercial Drivers Legal Plans, and Law Officers Legal Plans to name a few.

2. You will receive override commissions when members of your downline enroll new Pre-Paid Legal Members and new Associates.

3. You will receive a residual income stream on your personal membership sales, as well as sales achieved through your organization for as long as they remain in effect.

In my opinion, Pre-Paid Legal Services is a very legitimate company. Many times when someone needs the legal advice of an attorney, they do not bother to enlist their help, because of the cost associated with doing so. This company has positioned themselves to help a multitude of families and businesses at a price that is affordable to just about anyone. You will need to keep in mind that this is a business that will encourage you to prospect amongst family and friends to achieve success. With that being said, Pre-Paid Legal Services is a very legitimate opportunity that offers the tools and support for your success.

As always, I wish you success in your search for a home based business for you and your family.

Dave Fennell is an Investment Advisor who is transitioning into a Home Based Business in Internet Marketing. He specializes in Article Marketing, Blogging, Social Network Marketing, Video Marketing, and many other Top Online Marketing Strategies.

 

Choosing the Right Legal Services

Legal services can become a necessity at times. If you think that a basic or cheap service would suffice for the job, you could be mistaken. For example, you may need the help of a vocational expert to determine the effects on work capability after an accident. You may need to use the service of a cost consultant to draft the bill of costs, i.e. the assessment of legal costs for litigation.

Legal services ensure the proper resolution of the issue at hand without hassles. It is, therefore, important to choose the right one. After all, the outcome of the dispute may have greater impact on your life than you realise. How do you choose the right legal services? Here are some tips to help.

  • Opt for the service that offers the necessary ones for your purpose.
  • Try to find as much information about the services as possible.
  • Do not choose based on advertisements.
  • Check the credentials of the people working for the service.
  • Qualification and certification matter in this regard.
  • Experience in the field of legal services is also necessary.
  • Client testimonials could help you find whether the service was of help to others.

The question is how to locate a good service. Getting a referral from a family member or friend is perhaps the best way to locate the right UK legal services. If someone has used the services of a particular company and found them satisfactory, this is a good start point for making your choice. However, make sure that the person making the recommendation needed a similar service to you, or your experience could be completely different.

If this is not a possibility, do not worry. You have another fast and effective way to find a legal service – online resources. Just use the Internet to find the services that could suit your purpose. Keep in mind the points above before you contact the service for an initial consultation.

An initial consultation with the company of your choice could help you understand whether using their services would be a good decision. During this, enquire how their service could best fit your requirements, who would be working on the task, how they approach the matter, etc. Ask about any areas you have doubts.

If you are satisfied with this, ask about the charges for the specific services you would require, the mode, method and time of payment.

 

Prepaid Legal Services

PrePaid legal services Inc is a network marketing company that offers certain legal services for a fixed monthly fee to its subscribers. In this article, let’s see the business aspect of this MLM Company and check out the potential to earn as a PrePaid legal associate.

The Service

Why does anyone need legal insurance? The same reason why you’d need health or life insurance! Everyone’s accountable to the law and we can never predict when we may need the services of a lawyer. Legal insurance is a means to minimize your legal expenses. Membership to this service entitles you to the services of a lawyer for matters such as wills and other legal documentation, settlement of legal issues and minor trial work. Issues such as divorce, drugs related cases and major criminal problems are not covered, but members can use the services of a lawyer for such issues at a discounted rate.

A Look At PrePaid Legal Services

The idea for this venture was born in 1972 when its owner, Harland C Stonecipher got into a legal scuffle and had to cough up huge sums of money. He felt the need for an insurance that would mitigate unexpected legal expenses as well as keep them in touch experts in law to get their queries answered. The business was started as a network marketing company to spread the word through independent associates who could explain details to customers in person. Now, Prepaid legal is established in 50 states and in Canada. In addition to legal insurance, the company also offers a monitoring system to prevent identity theft.

Problems? Is PrePaid Legal Services A Scam?

After a series of lawsuits against the company, many people started proclaiming this business to be a scam. Is PrePaid Legal a scam? My answer is NO. This company has been around for more than thirty years and is listed in the New York Stock Exchanges. This firm is definitely legitimate. It’s easy for MLM companies to gain a bad reputation because there are so many bogus enterprises that take advantage of network marketing techniques.

Complaints against PrePaid Legal Services are mostly from ex-distributors who joined hoping to earn six-figure incomes magically. To them, the grapes were sour; they were not able to generate income beyond a level and they put the blame on the pyramid structure.

Why Should You Join PrePaid Legal?

– Legal insurance is relatively new as compared to other kinds of insurance. This should make it easier for you to sell the product. – The compensation structure and bonus schemes are attractive. There’s good prospect to grow in this business. Commissions are given as soon as the order is handed in. – This is a service that will be helpful for everyone. There should be many takers for this service if marketed the right way.

Distributor Problems

This is not the kind of business that could be sold to customers by strictly following procedures of a typical MLM firm. In fact, using techniques such as inviting people to demo parties, tempting them with gifts and offers and persuading them to buy your service would make your business seem more like a scam because most fraudulent dealers use the same modus operandi. Distributors are not likely to generate much income by just following MLM procedures such as cold calling or prospecting just don’t work anymore.

Selling Techniques

This is a business that could generate really good levels of income if marketed properly. Instead of concentrating on people you know, reach out to the world outside by communicating to them about your product. Online marketing would be the best way to do this. With innovative tools such as Facebook and article marketing, you’re sure to divert a lot of attention to your business.

Lawrence Tam has brought the best out of hundreds of Internet Marketers by helping them create wealth for their own network marketing business. Success in any network marketing business is built with knowing the secrets to online marketing like Facebook/MySpace, Twitter, Classifieds and many more. Get your F-R-E-E training mastering these marketing methods and many others at: Sponsor More In Prepaid Legal ServicesOnline.

 

Prepaid Legal Services Review

The History Of Prepaid Legal Services:

Prepaid Legal Services, Inc. is a network marketing company that focuses on marketing legal membership plans to middle America. The plans provide for legal service benefits, including unlimited attorney consultation, letter writing, document preparation and review, will preparation, traffic violation defense, automobile-related criminal charges defense and a general trial defense. Basically, they allow customers to have access to legal representation and attornies for a FRACTION of what it would cost outside of the membership.

Prepaid Legal Services, Inc. started in 1973 by Harland Stonecipher. The flagship product is the Life Events Plan and currently there are more than 1.5 million members in North America. A few years ago, the Identity Theft feature was added to the membership giving the membership more benefits. The strength of the Prepaid Legal concept is that it is marketing a unique service that people from every economic status can benefit from. It virtually doesn’t have any real competition in the traditional business arena or the network marketing industry.

Leadership And Training

Prepaid Legal Services is led by some of the most dynamic and documented leaders in the network marketing industry. Besides founder Harland Stonecipher, the corporate team contains many seasoned MLM veterans like Jeff Olson and co-CEOs Randy Harp and Mark Brown. On top of that, there are many seasoned veterans that sit on the Board of Directors. One example is current Board member, Stephen R. Hague, A 35-year veteran of the insurance industry, Hague has served as Chairman and CEO of several insurance companies. Hague replaced former Board member, John Addison, co-CEO of Primerica, when Addison resigned in 2003.

Prepaid Legal mainly focuses on building a business using offline building methods like contacting your warm market and handing out company DVDs to sharp people you come across. This “DVD-Exposure” technique has exploded it’s recruiting numbers across North America. With that said, they have recently instituted online presentation, lead capture pages and webinars for reps that want to leverage the internet to build their business.

What Are The Pros And Cons?

Prepaid Legal has many attractive features if you’re looking for a network marketing company to partner with. It’s leaders are great at teaching and promoting the fundamentals of building a network marketing business. The techniques that are taught are pretty simple and effective, assuming you don’t mind approaching your warm market. Another attractive feature is, if you are uncomfortable at giving presentations, there are a ton of tools, resources and systems you can use to recruit people into your business. Another feature that might interest you if you are looking at Prepaid Legal as a business opportunity is that there is a significant income you can generate just from marketing the service and acquiring customers. In short, Prepaid Legal is a great vehicle for the average person to come on board and see some success.

One disadvantage (if you want to call it that) that Prepaid Legal has is the potential for a rep to receive a chargeback. This means that if a customer cancels their membership within the first 12 months, the rep will incur a commission chargeback, due to the customer falling off the books. Personally, I don’t really see this as a disadvantage because all businesses, traditional or MLM, have some sort of chargeback feature when commission is paid on a customer that cancels, ex. life insurance.

In closing, Prepaid Legal Services, Inc. is an established company that is marketing a service in a groundfloor industry. Besides having a quality service and a strong pay plan, the fact that people who have no interest in MLM will still buy and keep the service is a major factor you need to be aware of if you want to build a large customer base that will pay you residuals for decades to come.