What are drag along and tag along rights?

23 July 2022

The constitution of a company is governed by its Articles of Association, along with any Shareholders’ or Investment Agreement. These documents also define the rights and responsibilities of all shareholders, to protect the interests of all parties concerned (including the company). Drag along and tag along rights are common clauses found in Shareholders’ Agreements and/or Articles, along with provisions relating to the compulsory transfer of shares and pre-emption rights.

Drag along and tag along rights protect majority and minority shareholders respectively in the event of a sale of the company, to ensure that all shareholders get a fair deal for their shares.

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The Legal Stop

The Legal Stop is a straightforward online business using information technology for the public good. We aim to make the law and provision of legal services accessible and transparent to people and businesses alike!

 

When do I need a non-disclosure agreement?

05 June 2022

The information within your business is valuable. Whether it be proprietary processes, customer lists or your company financials– sensitive information is something you will want to protect. However, there are many situations where it will be unavoidable to share information – be it with partners, employees or service providers.

So what is a non-disclosure agreement and when is it used? A non-disclosure agreement (NDA) is a form of protection against any of this valuable information being used against you or passed on to any third parties. This article explains some of the most common circumstances for when to use an NDA.

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The Legal Stop

The Legal Stop is a straightforward online business using information technology for the public good. We aim to make the law and provision of legal services accessible and transparent to people and businesses alike!

 

Difference between Document Templates and Bespoke Document Drafting

03 April 2022

Access to online legal documents and forms has made legal services easier and more accessible to many businesses. Whether you chose fixed fee document drafting or simply opt for a ready-made document template, there are plenty of ways to make legal transactions easier and more cost effective.

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The Legal Stop

The Legal Stop is a straightforward online business using information technology for the public good. We aim to make the law and provision of legal services accessible and transparent to people and businesses alike!

 

Volunteer Agreements - how should they differ from employment contracts?

11 February 2022

In the voluntary sector it is common for organisations to manage both paid employees and volunteers to carry out the work of the organisation. However, the difference between these two statuses is important. In fact, great care should be taken to avoid a volunteer falling into the category of contractual employment.

Employees are entitled to a variety employment rights, including paid holidays and protection from discrimination, whereas a volunteer does not enjoy any of these rights. Unless the distinction is made explicitly clear, there is a danger that a volunteer could claim employee status, and therefore demand workers’ rights, such as being paid the National Minimum Wage.

Having a volunteer agreement in place is a useful way to clarify the status of the volunteer.

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The Legal Stop

The Legal Stop is a straightforward online business using information technology for the public good. We aim to make the law and provision of legal services accessible and transparent to people and businesses alike!

 

The Difference between Assignment and License of IP Rights

16 January 2022

Intellectual property (IP) - whether in the form of a patent, copyright or trademark – grants the owner control over how the property is used and by whom. The owner may choose to commercialise the IP by granting licenses to other companies giving them the right of usage. Alternatively, they may decide to assign – or effectively sell - the IP to another company in exchange for a large sum.

The primary difference between assignment and license in IP rights is in the transference of ownership. An assignment transfers ownership and title to the assignee, whereas a licence grants the licensee permission to use the IP – usually for a limited time period - whilst ownership of the patent remains with the licensor.

One other significant difference between assignment and license in IP rights is that while an assignment must be in writing, a license is not legally required to be.

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The Legal Stop

The Legal Stop is a straightforward online business using information technology for the public good. We aim to make the law and provision of legal services accessible and transparent to people and businesses alike!

 

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