The Corporations and Markets Advisory Committee (“CAMAC”) has released its very useful though wordy final report titled “Crowd sourced equity funding”. This is probably its last before being abolished by the 2014-2015 federal budget.
The report follows CAMAC's discussion paper of September 2013 which received about 40 public submissions.
Internet access is a basic necessity in business, perhaps even of existence in civilisation. So it is important to carefully consider your contract to receive internet access services.
A recent survey of ISP use by ISP Below, found that “Around 90% of respondents say they would be lost without the internet. The majority rely on it for directions and nearly 60% look for places to have dinner or take a date. Almost a third check health symptoms online, and 80% head there first for cooking advice.”
Zareh Nalbandian has called for the 16.5% tax offset to encourage international projects to shoot in Australia to be increased to match the 30% incentive for visual effects work.
Nalbandian is the managing director and co-founder of Animal Logic, and NSW's first "creative laureate" (announced as part of the Vivid Sydney festival).
The Sydney Morning Herald recently report that the The Lego Movie, a product of Animal Logic's animation studio, "...has taken almost $500 million around the world, has the company negotiating to make both the sequel and Ninjago, a spin-off centering on Lego's ninja characters, for Hollywood studio Warner Bros."
I'll be keeping a watch for more news having been an adviser to film makers for decades, including software copyright advice for Animal Logic.
Throughout law school, law students are required to regurgitate case law and legislation in essays and exams. In a law exam, a problem is presented, and students only have to identify legal issues and apply relevant laws.
Law students graduate expecting work in a commercial law firm to involve tasks like this:
1. Client seeks advice on a particular area of law
2. Lawyer reads, listens and applies legal knowledge, avising and solving the client's problems.
3. Client follows that legal advice.
4. Lawyer bills, client pays, case closed.
Classic legal tasks one to four are only one dimension of what is required by clients, particularly start-ups and small and medium-sized businesses. These classic tasks were evolved in what has been called the purely bespoke or artisan era of legal practice.
Business priorities shift depending on where a business is in its lifecycle from start-up to early growth and maturity.
Seizing opportunities to deduct business expenditure is especially important for businesses in their start-up and early growth stages.
Despite the momentous announcement in the Budget that the Medicare changes will help fund medical research in Australia, the Budget has reduced the incentive for research and development (“R&D”) in other areas. It is expected that the medical research fund will top $20 billion.
The government anticipates that the reduction in the R&D offset will be softened by the already announced reduction in the company tax rate.
Certainly, the company tax rates will go down by 1.5% from 30% to 28.5% from 1 July 2015.
We've known for decades that the law is "choking on statutes". The author of that concept is now known to me.
It will soon be 30 years since those lectures. Business, real productive and sustainable business, can today choke to death on legislation (aka statutes).
The subject of access to justice appeared in three recent readings - an official report, a blog post and a new book. They confirm what is known and suggest improvements.
The official report is "Access to Justice Arrangements", a 92 page draft report of the Australian Productivity Commission released in April 2014.
WTF is usually thought of as a rude acronym. I've decided to give it a new meaning.
During a meeting yesterday I informed a new client start-up that too often new clients make contact with lawyers after a fire has started. They treat lawyers like the fire brigade.
That's when the client said: "Ah yes, WTF, meaning Where's The Fire". He said go ahead feel free to use it. So I have.
Do yourself a favour stop treating lawyers like the fire brigade – only calling when your house is on fire.
In about 1987 I attended a music lawyer's seminar at the Arts Law Center in Sydney. I have never forgotten how my eyes watered as the experienced music lawyer (Nina Stevenson) described Byzantine contractual complexity such as royalty-related cross-collateralisation in the 30+ page label contract she reviewed for a rock band. I felt then that I knew too little to be a music business lawyer.
Subsequently I've done a few dozen jobs involving music, incuding for artists, labels and publishers. Still, that's not a lot of deal flow.
But on the road to being digital much is changing.
As music business models change, mostly favouring digital formats, there has been some convergence in business models across entertainment and information markets.