Mark Allen, Director at Aperion law, presented a webinar on identifying and managing legal issues arising from the COVID19 pandemic. Aperion Law, a long-time supporter and member of Fishburners, delivered this presentation as part of its commitment to fellow members and the wider Fishburners community.
The webinar covered critical legal issues by way of an initial presentation from Mark, followed by a detailed Q&A session. This
article features one of the many topics that were covered, specifically legal issues with misleading conduct that are likely to arise during
these uncertain times.
Bank offers during COVID-19 - what do they really mean?
Chances are that there are various approaches made to you by banks offering to lend money. Remember that this is still a loan, there is still interest payable and there is a repayment date. This would be a case where if you weren’t able to demonstrate that the company was going to have the capacity to repay it in accordance with the terms then the director may be personally liable for it. There is a lot being said that on the surface sounds attractive but is otherwise business as usual and is really not going to be helpful.
Weighing the pros and cons of investing in IP protection during COVID-19
There is a danger for those who have patent applications pending, or trademark renewal fees or fees in the application process that are not paid (which would result in the lapse of the IP). You need to make a commercial decision on what you should spend money on, but remember that the value of a business at an early stage is in its intangible assets and investors do like things that are registered. So, it is important for you to evaluate whether you should give up something you have already paid money for as a sunk cost, and perhaps lose the benefit of registration. It’s possible that this might allow an agile and better funded competitor to take advantage of you.
Misleading consumers and its implications
If you are in business and in your specific case, you think that there is some scope to take advantage of the current climate in advertising your goods or marketing a product, then you should not mislead consumers into thinking that they might get some benefit when they in fact don’t, or that the product is cheaper than what it might normally be, when it in fact is not. Remember that misleading conduct is not just something that consumers can rely on but your competitors can rely on as well.
To find out more about the specific topics that were addressed in the webinar, click on the links below-
COVID-19: Contractual term you should be aware of
Insolvency Issues: Dealing with Liabilities during COVID-19
COVID-19 and Employment Law
Aperion is offering a free 30-minute consultation for those who might want to know - or get a second opinion - about their particular situation in the current environment and want to discuss options available.
If you want to take advantage of this invitation, please contact:
Mark Allen on 0417 251 354 or firstname.lastname@example.org
Peter Lightbody on 0419 166 828 or email@example.com
Ashley Cheng on 0408 176 489 or firstname.lastname@example.org