Imagine yourself as a Melbourne business owner whose venture is finally gaining momentum. Exciting, right? As growth occurs, new legal challenges can arise. They are like juggling torches with a unicycle. No need to worry! Melbourne Haitch Legal‘s top experts have some great advice to offer.

Let’s start by talking about contracts. These contracts are essential to any business relationship. Imagine signing without one. You’d be diving into shark-infested seas without a cage. All agreements should be put in writing. Even if your friend is working with you, ensure you have an agreed-upon contract. It will save you headaches in the long run.

Let’s discuss intellectual property (IP). IP can include your brand logo, slogan and even the quirky jingle that you created. Don’t let anyone steal your ideas! Register trademarks soon to avoid other people stealing your hard-earned work. You can think of it like a padlock for your treasure chest. Better to be safe rather than sorry.

Growing businesses are faced with another minefield of employment law. Hiring staff? Great! Keep in mind that each employee will need a job contract and clear job descriptions outlining their responsibilities. It’s important to not only be fair but to also protect your own interests if things don’t go according to plan.

Next, let’s take a look at the compliance. Regulations are more complex than assembling a flat-pack without instructions. You should be familiar with local laws, such as those relating to data protection and health and security. Non-compliance will result in large fines or worse — your business might be shut down.

You might have thought about legal insurance. If it sounds like overkill, think of legal insurance as an umbrella that you keep on hand to protect yourself from the unpredictable Melbourne weather. Legal insurance provides peace of mind by covering costs relating to litigation or disputes.

As your business grows, you’re bound to have disputes. Conflicts are inevitable, whether you’re dealing with a disgruntled consumer or a provider who failed to deliver on their promises. A strategy to resolve disputes is essential. Mediation is a good option, as it’s less expensive and quicker than the court system.

Don’t forget about your tax obligations. Australian Taxation Office (ATO), is very strict when it’s time to collect your dues. Be aware of the tax obligations your business faces, including income tax, GST and PAYG withholding.

What you might not know is that community engagement can be a part of your overall legal strategy. It is important to build good relationships in the community. This will not only improve your reputation, but it can also help you create informal support networks.

Last but certainly not least, don’t attempt to do all the work yourself. A good legal advisor will save you more than gold bars hidden under the bed. These experts have insights for small companies that are going through growth.

This is a great collection of legal tips from Melbourne’s best. Remember these tips when you’re navigating through growth spurts. It will keep those torches from flaming and make sure your unicycle rides are smooth.