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Craig Harrison

Craig Harrison

Partner and Head of Company Commercial
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The Duke of York is encouraging people of all ages to come forward with new ideas, as part of a Palace-backed project to help start-up businesses.

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The term ‘partnership’ describes a relationship between parties carrying on a business in common with a view to profit. Despite the creation of limited liability partnerships over a decade ago and the availability of other corporate vehicles, the partnership model remains popular, particularly amongst small professional firms who do not wish to be burdened by the legal and administrative requirements associated with incorporation.

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When incorporating a company, it is easy to overlook the possible need for a shareholders’ agreement. However, this can be a crucial tool to the success and smooth operation of a company.

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Businesses often have long term trading relationships with other businesses and it is sometimes the case that the terms that govern such relationships are unclear. Once a business has established a long term healthy relationship with another party the need...
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The Supreme Court has handed down a much anticipated decision in the case of SA and another v Bilta (UK) Ltd (in liquidation) and others [2015] UKSC 23 . Background Bilta (UK) Ltd (Bilta) was compulsorily wound up in November 2009 pursuant to a petition...
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Hertford -based law firm Longmores fears that measures introduced in the Chancellor’s Summer Budget will affect the profit margins of SMEs. George Osborne’s seventh Budget – the first of this Conservative Government – heralded a...
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A key feature of share and asset purchase transactions is formulating a mechanism for determining the purchase price payable by the buyer for the target shares or assets. Often, the purchase price is fixed. Sometimes, however, a completion...
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Many of us pay scant regard to the possible legal ramifications of our business dealings if such dealings have not been reduced to writing in the form of a formal legal document. It is however important to understand when a binding contractual...
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The Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 (the Regulations) came into force on 13 June 2014 and replace the previous law on distance selling and doorstep selling. The Regulations apply to all consumer...
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By Fasil Hussain and Craig Harrison In April 2012 the government introduced the Seed Enterprise Investment Scheme (SEIS) aimed at helping small, early-stage companies, raise funds through individual investors by providing very generous tax reliefs to...
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The doctrine of ‘good faith’ is recognised in most civil law systems across Europe and in many US states. English law on the other hand, has not generally recognised an implied duty that contracting parties should perform their obligations in...
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According to the Office of National Statistics, 36 million adults (73% of the adult population) in Great Britain accessed the internet every day during 2013. With the internet now being a customary part of everyday life it is vital for companies to ensure...
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Automatic enrolment began for the largest employers in October 2012 and will ultimately result in workers saving more towards their retirement or saving for the first time. Under the programme, more than 1.3 million employers will have to automatically enrol...
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Dissolution leading to the winding up of a partnership can be brought about in a number of ways, including by unanimous agreement or pursuant to the exercise of an express power contained in a partnership agreement. Additionally, a court-ordered...
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It is as well to remember that the Internet can be a threat, as well as a boon, to businesses, as is shown by a dispute involving a woman who registered a confusingly titled domain name and then used it to air her criticisms of a firm of estate agents. The...
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In pursuit of substantial judgment debts against a Russian businessman, a bank has persuaded the High Court to ‘lift the corporate veil’ and to rule that he is the beneficial owner of a Virgin Islands registered company that owns a luxurious...
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After years in the doldrums, the UK economy appears to be recovering. Indeed, according to the Office for National Statistics, the UK economy grew by 1.9% in 2013, the strongest rate of growth since 2007. As a result, market confidence is improving and...
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The fallout that can result from the death of one co-owner of a business is something that all business owners should carefully consider. Such circumstances can quickly escalate into acrimony and potentially costly litigation if handled incorrectly. The...
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In a contractual context, a penalty clause can be described thus: that, upon breaching a particular provision of a contract, the party in breach will pay the other party a particular sum of money, or the party in breach is disentitled from sums otherwise due...
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The Corporate Manslaughter and Corporate Homicide Act 2007 (“the Act”) was back in the headlines last month after the fourth successful conviction for corporate manslaughter was made against a Northern Irish company. The company owned a mixing...
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Care must be taken when selecting and adopting a company or business name (the latter being a name used by a person, partnership or company for carrying on business which is not the same as their own name). Current legislation seeks to ensure that:...
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In English law, a “misnomer” is a wrong or inaccurate use of a name or term. A prominent example of misnomers in practice is parties negotiating a contract making an erroneous reference to a contracting party, whether as a result of simply...
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The “employee shareholder” status: formal recognition at last In a blog published back in November 2012, we reported on a new employment status which the government had previously consulted upon with interested stakeholders. Following a...
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Indemnities can be useful tools in the context of contractual relationships with third parties. In brief, they comprise an express obligation on the indemnifying party to reimburse the beneficiary (by way of monetary payment) for defined losses or damages...
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In February 2013 the Department of Business Innovation and Skills published a response to a consultation on the Nuttall Review regarding employee share ownership and specifically share buybacks. There are some concerns that the existing share buyback...
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The headline announcement in the Budget was that 450,000 small and medium-sized enterprises (SMEs) will no longer be required to pay employer National Insurance Contributions (NICs), with the first £2,000 being taken off employers’ NI bills...
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The government is eager to incentive’s innovation and the development of intellectual property. The Patent Box, which takes effect from 1 April 2013, is intended to provide such an incentive. Patent Box will allow eligible companies which...
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In the context of sales and purchases of shares and business assets, it is customary for buyers to seek protection against losses, liabilities and claims that they had not bargained on. This protection usually takes the form of (amongst other things)...
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“Hertford Entrepreneurs’ Network (HEN) has launched a Growth Plan Award to stimulate growth plans for small entrepreneurial businesses in Hertford. Businesses are invited to submit growth plans which will be judged by a panel against clear...
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Hertford-based law firm Longmores is advising small businesses of forthcoming changes to employee share scheme rules which may help them retain key individuals. Changes to the Enterprise Management Incentive (EMI) share option scheme rules are outlined in...
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In the wake of the continued economic downturn, the government has acknowledged the fears harboured by businesses of the cost implications associated with hiring employees, particularly in relation to employment claims founded on alleged breaches of the many...
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In broad terms, the members of a company will not be responsible for the liabilities of that company. The English courts have, however, from time to time pierced the ‘corporate veil’ and attached the legal consequences of a company’s...
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In the context of preparing and negotiating commercial contracts, one aspect which does not always attract the focus and attention so clearly merited is considering how and to what extent a particular party’s liability under the contract is to be...
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Longmores Solicitors has made a further appointment to expand its Company Commercial offering. Solicitor James Brawn, a company law specialist, has joined the Hertfordshire practice following a move from Cheltenham-based Rickerbys. James has spent...
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Many IFAs who decide to battle on through the new regulatory system will be taking a long hard look at their business, not just to ensure compliance with the RDR, but to better understanding their client base; create an efficient operating model; create the...
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Shareholders usually want to control the admission of new shareholders into a company due to the often personal nature of the ventures in which they work and/or invest. It is therefore common for a private company’s articles of association and...
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EMI share option schemes remain the most tax-advantageous way of using share options to incentivise employees. That advantage comes with a cost which manifests itself in terms of mandatory conditions that must be met if the options are to qualify for EMI...
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With austerity continuing to be an important word both politically and economically, businesses still find themselves under pressure to manage both cash flow and their relationships with employees. One subject that comes up repeatedly is the...
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