A Responsible Approach to AI: When to Use ChatGPT for Your Business And Branding
Lazarus Legal | Lazarus Legal Blog
by Mark Lazarus
2M ago
Despite facing many controversies since its launch, ChatGPT from OpenAI has quickly become a go-to tool for businesses, with many looking for ways to integrate artificial intelligence (AI) into their content and marketing mix. But while it opens up infinite possibilities in terms of practical applications and automating tasks, it can also lead others to question a company’s credibility, especially for those in the legal profession. If you are considering using AI tools like ChatGPT or Dall-E for content creation and marketing, here are some important things to remember, including legal, ethica ..read more
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Decoding The Term Sheet: The Key Elements of A Strategic Business Deal
Lazarus Legal | Lazarus Legal Blog
by Mark Lazarus
2M ago
Arguably, no other document is as pivotal in determining the future of your startup or business as the term sheet. Apart from attracting venture capitalists (VCs) and other prospective investors and generating competition to ensure you get the best deal, this key document can also serve as the blueprint for succeeding funding rounds. Knowing the basics of a term sheet from the outset is crucial if you want to fund your startup or business successfully. Read on for our guide on creating an effective term sheet for investors. What is a term sheet? A term sheet is a preliminary contract that defi ..read more
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Safeguarding Your Startup: Identifying Copyrighted Material Vs Public Domain
Lazarus Legal | Lazarus Legal Blog
by Mark Lazarus
3M ago
Before creating content, whether as a content creator, a startup or a business owner, it’s essential to respect and be aware of copyright laws. This is crucial, especially when designing your company logo, creating marketing materials, developing a product and more. You’ll need to understand the fine line between copyrighted material and those in the public domain to avoid legal pitfalls.  What is a Copyright? Copyright is the exclusive legal right of the creators of an original work to control certain activities regarding their original piece. These include copying and re-use, like publi ..read more
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Holding Companies: The IP Advantage Law Firms Don’t Tell Startups
Lazarus Legal | Lazarus Legal Blog
by Mark Lazarus
3M ago
Intellectual property (IP) is essential to any business, especially if you’re a startup. They can create new revenue streams, minimise tax and secure investments for the company. For these reasons, exploring the best practices to protect your IP assets is crucial. This includes setting up a holding company and having a dual company structure, a strategy many Australian businesses use. What is a holding company?  A holding company is created specifically for purchasing and holding shares of other companies. Rather than providing services or creating and selling products to customers, a hol ..read more
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Law in the Digital Age: The Rise of Alternative Legal Services
Lazarus Legal | Lazarus Legal Blog
by Mark Lazarus
4M ago
The growth of client demands amid recent economic challenges has fueled the rise of alternative legal services providers or ALSPs, with a recent report from Thomson Reuters citing they now make up a US $20.6 billion segment of the legal market and Australian law firms showing the most sophistication in their use. Law firms are either incorporating an ALSP internally or externally, especially for consultations on legal technology, and more and more clients are delegating work to these providers than traditional law firms. The Difference Between ALSPs and Law Firms ALSPs are businesses that prov ..read more
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New Wave of Lawyers Can Now Practise In India: Everything You Need to Know
Lazarus Legal | Lazarus Legal Blog
by Mark Lazarus
4M ago
Australian law firms, lawyers, and new law graduates looking to expand their network might want to explore their options in India, as the Bar Council of India (BCI) has permitted foreign law firms and lawyers to practise foreign law and international legal issues and arbitration matters on the ground – for the first time in decades. The potential for strengthening ties between the two jurisdictions is welcome and could bring geopolitical benefits, as India and Australia have the same common law system.  This remarkable development is a game changer for legal professionals in more ways tha ..read more
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Unlocking the Costly Consequences: Aussie Startup Guide to 2023 Tax Return Penalties (Legal Update)
Lazarus Legal | Lazarus Legal Blog
by Mark Lazarus
4M ago
Tax season has rolled around once more! For startups and businesses yet to submit their tax returns for previous financial years, now is an opportune moment to catch up. Otherwise, you’ll risk exposure to potential Australian Tax Office penalties.  The reality is that many fail to lodge their tax returns or business activity statements (BAS) because they cannot afford to pay their tax debt. Regrettably, this oversight can escalate since the Australian Tax Office (ATO), although infrequent, does have the authority to prosecute those who miss their filing deadlines. Moreover, accrued intere ..read more
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Tax Law Unveiled: 2023 Insights, Historical Evolution, and Fresh Updates by an Australian Attorney
Lazarus Legal | Lazarus Legal Blog
by Mark Lazarus
4M ago
As we approach the end of the financial year, individuals, startups, and businesses are gearing up to tackle the annual task of preparing and lodging their tax returns. However, before diving into the intricate world of taxation, it’s crucial to be well-versed in the legal requirements and updates issued by the Australian Tax Office (ATO) for the 2022-23 financial year. Navigating Taxation Obligations Tailored to Your Business Structure No matter your financial circumstances, fulfilling your annual tax return remains a legal obligation. Therefore, it is vital to have a firm grasp of the specif ..read more
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Finding the Right Angel Investors for Your Startup in 2023
Lazarus Legal | Lazarus Legal Blog
by Mark Lazarus
4M ago
In the realm of early-stage startups, angel investors shine as essential allies. They bring both crucial initial funding and the valuable expertise needed to kickstart companies. Unlike venture capitalists, who deploy pooled funds, angel investors personally invest their own resources and actively engage with the startups they back.  Because angel investors bring in not only wealth but also their vast experience, many startups look to them for guidance and mentorship. For this reason, it’s extremely crucial for early-stage startups to find the right angel investor who supports their goals ..read more
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How Safe is a SAFE Agreement?
Lazarus Legal | Lazarus Legal Blog
by Mark Lazarus
4M ago
In the world of early-stage startups, founders face a significant challenge: getting the funding they need. To attract investors without giving away too much ownership or control, startups often turn to ‘SAFE’ agreements. In this article, we’ll explore how these agreements can be a game-changer for startups seeking financial support. What is a SAFE agreement? SAFE, which stands for Simple Agreement for Future Equity, was introduced by startup accelerator Y Combinator in late 2013. It’s a contractual agreement between a startup company and its investors, giving the latter the right to preferred ..read more
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