Free Basic NDA up for grabs!

So you not sure how this legal document download thing works?

Try this out, download this NDA, find out for yourself how it works.

Not only will you be getting an updated legally binding NDA, you will also get to see our work.

Here’s the link Basic NDA

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Get your legals, RIGHT!

The problem with most business owners is that they only choose to seek legal assistance when the are in trouble.

And that is the wrong approach, for a couple of reasons:

  1. Approaching a lawyer when only in trouble will most probably increase your costs, more than usual.
  2. Your case will not only be more complex, it might also take longer

Sign  up here for monthly subscription service were you will have access to legal services as and when you need it.

info@lenoma.co.za

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Commercial Leases 

If you own a business, chances are you may need to consider entering into a commercial lease. So how do these differ from ordinary, residential leases?

There are a number of things you need to look out for. This article will cover the four most important things to look out for before signing the dotted line.

1 . Terms of the Lease and Options

The term of the lease is extremely important for business tenants. There often exists a conflict of interest between landlords and tenants with regard to the terms of leases so it is important to be informed and look out for your best interests.

Generally, landlords prefer the security of a longer term lease (for example, 5 or 10 years), whereas tenants usually prefer the flexibility afforded by a shorter lease (3 years is about standard). This is especially the case for start-up business tenants who commonly either go out of business or rapidly expand and require a new lease to expand operations in the near future. Keep in mind that, as mentioned, if the relevant retail lease legislation applies to your lease, there may be restrictions upon the minimum term of your lease.

Another important consideration is whether the lease provides you with an option to renew at the end of the initial term so you have the option to continue trading. This is very important for commercial leases as a large proportion of your businesses’ goodwill may be attached to your premises, so you may want to protect this.

2. Rent and Security

The rent clause is probably the most obviously important aspect of any lease agreement. When it comes to paying out expenses, we all want to keep it to a minimum! The rent clause specifies the the amount of money the tenant must pay to the landlord in return for the landlord providing the use and occupation of the property. Rent is a significant operating expense for most businesses.

The rent for the initial term, as well as any changes to the rent, must be specified in the lease. The most common methods of rent review (i.e. changes in rent) are consumer price index (CPI), fixed percentage increase and market rent. It is important to ensure you will be able to afford any proposed rent increases during the period of your lease and any renewal period to avoid falling behind.

The landlord may also request a security payment from the tenant to protect against the tenant failing to pay rent (i.e. defaulting). This would either be in the form of a bank guarantee by an individual tenant, or a personal guarantee by a company tenant’s directors. The security deposit can be a significant amount of money, usually equal to three to six months’ rent. Therefore, you shouldn’t forget this cost when assessing the affordability of your commercial lease.

3. Termination

Lastly, you should also review the termination clause contained in your commercial lease. Keep an eye out for any clause which allows the landlord to terminate the lease before the end of the term. In most cases, it is highly advised that you seek to have this removed as it causes uncertainty of your lease which can be very damaging for your business. Further, you should be aware of any other circumstances which will cause your lease to be terminated.

Get Advice from a Professional

There are clearly some very important things to look out for when entering a commercial lease for your business.

Each of these factors has the potential to have a major impact on the performance of your business, so it is worth looking into obtaining independent legal advice to protect your best interests. As a potential tenant, if you are unhappy with any aspect of your lease agreement, you should negotiate with your landlord to reach an agreement that suits your needs.

What is a Non-Disclosure Agreement though? 

A non-disclosure agreement (NDA) is a contract to keep a secret. 

A non-disclosure agreement is often used when two companies or persons want to meet to discuss a joint opportunity involving the exchange of confidential information. An NDA is especially useful when discussing an invention with a prospective licensee.

This non-disclosure agreement then, would be an agreement between you and a potential licensee in which you exchanged your invention for a promise by the licensee to keep the invention secret.

A non-disclosure agreement may be unilateral, that is, one person is bound by the obligation to keep a secret, or it may be mutual, in which both parties have an obligation to keep the secrets of the other disclosing party. As in all contracts, both parties must receive a benefit; this benefit is called consideration. In the case in which you are disclosing your invention to a potential licensee for the promise of keeping your invention secret, the benefit received by the potential licensee is to learn of your invention, knowledge that he would not have otherwise had but for the exchange of the agreement. The benefit that you receive under this non-disclosure agreement is that, in exchange for disclosing your invention, the licensee or receiving party promises to keep the information secret. In this case, the consideration is the exchange of information for the promise.

Anatomy of an NDA

Non-disclosure agreements are generally not particularly complex, and most such agreements contain several basic components or parts. At the beginning of the general non-disclosure agreement is a preamble or paragraph identifying the parties. The next section of a typical non-disclosure agreement includes definitions of terms that are used in the agreement.

Such terms might include the words “proprietary information,” “trade secrets” and “protected technology.” Any other terms that might be either ambiguous or key terms of the agreement are often also defined in this terms section.

The next section found in the typical non-disclosure agreement is the exclusions section. The exclusions section generally contains five or six different carve-outs to secrets or confidential information that is not covered by the non-disclosure agreement.

The first of these is typically information that is already public or has become public through no fault of the receiving party. Information that might be thus characterized as confidential information in disclosure meeting and marked confidential is not covered under the agreement if that information is already known by the public.

A second carve-out to the non-disclosure agreement is typically information that, as of the time of receipt by the receiving party, is already known to or in the possession of the receiving party. That is to say, if under a non-disclosure agreement you give me information that I already know, you cannot force me to keep it secret by this NDA obligation.

A third typical carve-out in an NDA is information that at any time is received in good faith by the receiving party from a third party that was lawfully in possession of the information and had the right to disclose the same.

If you and I enter into a non-disclosure agreement and you give me confidential information pursuant to that agreement but I then purchase technology from a third party and as part of that purchase receive the same information that you and I agreed would be held private, then I no longer have the obligation to keep that information confidential because I have received it from a third party who had no obligation with you to keep that information confidential. 

The summary of this particular carve-out is that if I get information from somebody else who knows about it and who received that information lawfully, my obligation to you to keep it secret no longer exists.

A fourth carve-out to the non-disclosure agreement typically is information that is disclosed to third parties by the disclosing party on a non-confidential basis, that is, if you give me information under the non-disclosure agreement but then you pass the same information on to third parties on a non-confidential basis, then I no longer have that obligation to keep that information secret.

A fifth carve-out that is typically included in a non-disclosure agreement is information that is independently developed by or on behalf of the receiving party without benefit of the transferred confidential information.

This occasionally happens in large companies where you pass information on to me under a non-disclosure agreement, and another division of my company, without ever having received the confidential information, develops the same confidential information or the same technology independently. This independent development relieves me of the responsibility to keep that information confidential under the agreement.

In addition to the term that lists a number of carve-outs to the non-disclosure agreement, the typical NDA includes a number of other terms, including a term that each party shall use the same reasonable efforts to protect the confidential information as are used to protect its own proprietary information.

Related to this is often a requirement that the disclosure of the confidential information shall be restricted to those individuals in the company who are directly participating in the review of the information and have a need to know such information.

Another term in the agreement might clarify that execution of the agreement does not give a license or other transfer of proprietary rights to the technology, but only is construed to be a sharing of information.

Life Expectancy

Most non-disclosure agreements have a period of time of effectiveness of the information. This time period or term of the agreement is one, two, three or some finite number of years. The reason for this is that as time goes on, it becomes increasingly difficult to protect confidential information, as memories of the agreement and changes in personnel often result in accidental dissemination of the confidential information. It is also understood that confidential information typically has a relatively short period of viability.

Over time, the value of trade secrets and other technical information diminishes as others independently develop or are able to reverse-engineer products to learn of the trade secrets. Trade secrets naturally disseminate as employees move from company to company, understanding, of course, that there are some trade secrets that can last many years, such as the formula for Coca-Cola©, but generally most confidential agreements expire after some period of time. The non-disclosure agreements are typically signed by both parties and may include an exhibit attached to the end of the NDA, describing in broad terms the specific confidential information that is being exchanged.

NDA is still our #Docoftheweek  get yours today by simply contacting us on info@lenoma.co.za for only  R250 this week

Team Lenoma Legal 

http://www.lenoma.co.za

The benefits of becoming a contractor

There are many advantages to an employment relationship, but since an Independent Contractors Agreement is our #docoftheweek we thought it would be great to deal with some of the advantages of being in a contractor agreement relationship.

The main advantages are that you can:

  • Become your own boss

    Contract work provides greater independence and, for many people, a greater perceived level of job security than traditional employment.

  • Maintain a good work/life balance

    Less commuting, fewer meetings, less office politics – and you can work the hours that suit you and your lifestyle best.

  • Earn more money

    Being a contractor means you get paid for every hour of work you do, at the market rate. If your skills are in demand, your income could be high.

  • Test out a new field of expertise

    Not sure if there’s a market for your skills? You can dip a toe into a new industry without committing yourself to a full-time job. If it doesn’t work out, you can cut your losses quickly and easily.

  • Start on a part-time basis

    This can be appealing to young people just graduating from college, or older people who want to experiment with a second or even third career.

  • Test out a company

    If you’re not sure a new company is offering the right full-time employment opportunity for you, suggest first working for them as an independent contractor.

 

If you would want an #IndependentContractorsAgreement get yours here at Lenoma Legal eCommerce website

 

3 Things that MUST be in your social media policy.

Your Social Media Policy

What is a social media policy?

A social media policy doesn’t need you to be tech savvy – it is a company code of conduct that concerns employee behaviour (i.e. what they post) on social media networks, blogs, messaging apps, forums, email, etc.

Who needs a social media policy?

You might think that if you don’t have a blog, Facebook page or Twitter account you are safe. You are wrong! You are never safe because your employees and customers have social media accounts, blogs and they chat on forums. What they say about your company affects you commercially and legally even if you decide to be just an observer.

That’s why every business needs a social media policy even if you choose to stay traditional brick-and-mortar.

How do you create a social media policy?

The thing with social media is you can’t predict everything that can happen. You can’t just say “If this, then do that” because the environment we operate in changes so fast — the policy from yesterday doesn’t make sense today. That’s why instead of trying to create rules, focus on creating a culture of the way we do things around here.

What do you do with social media policy?

Make everyone sign it! The best way to handle this is to have it attached to employment (and termination) contracts. If you want to make sure all your current employees understand and adhere to it, schedule a 2-hour training session in which you explain the policy, why it is important and when it is to be applied.

Social media policies are very flexible and should reflect the nature of your business.

In our legal experience however, there are a few things that every social media policy should tackle. For the safety of your company, your customers and your employee…

…and here they are:

The 3 things that should be in every social media policy:

  1. Prohibit the sharing of confidential, sensitive, copyrighted, trademark information on personal accounts, as well as, defamation of colleagues or customers.
  2. Explain when and how employees need to identify themselves as such (when talking about products or services) and how they can use the company name or brand.
  3. Set boundaries with customers – when are employees to enter an argument or make a comment, in what way they should respond to customers and how much of the customer experience are they allowed to post online.​

There is much more that can be included. The more complex the organisation, the more complex the policies will get.

One important tip is to consult a professional  first as to what are the regulations of employee – customer communications so that you make sure your policies are not breaking any laws (by posting personal information about a purchase like an address or telephone number of a customer, for example).

Not sure if social media is for you?

Consult with us so we can help your company in this digital age.

Contact us below

http://www.lenoma.co.za

info@lenoma.co.za

How to boost your business  with social media 

Social media is the new big thing in marketing!

It’s hard to find someone who doesn’t use social media on a daily, or even hourly basis, so if your business isn’t taking full advantage of this great marketing tool – you need to. But having a social media presence isn’t enough. Most start-ups and even many big businesses still don’t have a clue on how to use social media effectively for marketing their business. This article will lay out the key rules you should follow to get the most out of your marketing on social media.

Develop a Specific Set of Goals

Hard work is pointless if it isn’t focused on your specific goals. Some of the goals you might want to achieve for your business include:

·      Increase brand awareness

·      Raise sales and profits

·      Generate more leads

·      Enhance your business reputation

·      Provide customer service and support

Adopt a Brand Personality and Voice

Social media is meant to be just that – social. People look for a more humanized brand voice and respond more favourably to business marketing that has personality. Think about how you want your business to be portrayed – think of personality traits such as friendly, professional, funny, positive, considerate, responsible, etc. Be consistent with your voice. Ensure it is known and used by all team members on all social media platforms. This will give your customers a sense of familiarity with your business.

Identify the Market Segments and Communities you want to Target

In today’s world where consumers are constantly bombarded with information, marketing at the generic level is no longer effective. Therefore, one of the greatest benefits of social media is that it allows you to target your marketing all the way down to micro-segments. This drastically improves your engagement levels and conversion ratios. Further, you want to identify the communities for these micro-segments.

Create an Action Plan

Now that you know your goals, brand personality and target market, you need to develop an effective plan to achieve your desired results. Good action plans include the following:

·      Listening plan

·      Channel plan

·      SEO plan

·      Content creation plan

You may want to engage in activities such as creating competitions, building relationships and groups, blogging, lead conversion, and creating funny or informative posts. The action you take will depend on your desired outcome.

Measure your Results and Respond Appropriately

Finally, you want to check whether your action plan is working to achieve your specific goals. Measurement should be all about maximizing your return-on-investment. This can include revenue growth, customer acquisition cost, profit, or whatever other parameters are key to your business success. Take note of what works and what doesn’t work for your business by observing these parameters as you adopt new social media strategies. This is not trial and error. You need to be calculated and deliberate with the changes you make so that they result in the best potential outcomes for your business.

Take Action Today

Marketing on social media is fundamentally different from conventional marketing. In turn, your action plan should take advantage of the unique opportunities it provides to get your business ahead.  Along with the added benefits though, come the added legal considerations you need to make to protect yourself from liability.

If you want to ensure your business is covered, please don’t hesitate to contact us.

http://www.lenoma.co.za

info@lenoma.co.za