Business

Business Failures in Australia: Causes and Considerations

The collapse of Godfreys Group in January 2024 reflects a broader trend of business insolvency in Australia, particularly among small to medium-sized enterprises. Amidst factors like COVID-19 fallout and interest rate hikes, cost of living pressures and supply chain disruptions, small and medium sized companies are facing a turbulent period. Directors and officers must navigate these stormy waters with vigilance and strategic foresight. Professional guidance becomes indispensable, offering insights into restructuring and insolvency laws. Bond University’s Enterprise Governance programs provide vital tools for navigating such periods of uncertainty.

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Making Contracts More Understandable:  A New Frontier for Lawyers

For many lawyers, writing complex contracts that only the initiated can understand is a point of pride. But for the non-lawyers whose lives and finances are affected by these contracts, this can be a major problem. They may not be able to understand the contract and may not have the resources to hire a lawyer to interpret it for them. However, a new generation of legal thinkers and designers are challenging this status quo and working to make contracts more understandable and accessible to non-lawyers.

Law Schools Should Teach More Transactional Lawyering

Australian lawyers specialising in transactional work are, according to legal recruiters, the most in-demand by overseas head-hunters looking to fill global talent shortages.  The pay both domestically and overseas is high and demand for graduate jobs in top-tier commercial firms is fierce.  Law students should learn as much as they can about the different fields of practice before they make important career choices. Why don’t law schools teach more transactional lawyering?

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