ARKA Corporate Services (Cayman) Limited ("ACS") and ARKA Legal Services ("ALS") recognises the need for a local service provider to assist local start up companies and entrepreneurs in the Cayman Islands. We encourage businesses of all kinds and are confident that we can provide a solution to all of your start up needs.
ACS & ALS provides our clients with assistance from the very start of your business.
The structure of your business is vital to your success as you start up and expand. If you are going into business with other people, you might need a shareholders' agreement or a partnership agreement or just a simple contract outlining your business relationship to ensure that you get a fair return for your financial or non-financial investment. We can explain the different options and advise on the best one for your business and can set it up for you.
More often than not, choosing a premises for your business is a difficult decision to make and can also become convoluted with lease terms. It is important that you fully understand the terms of the lease that you may be entering into. Common questions are: Can the landlord increase the rent? If so, by how much? Will you need planning permission? How can you get out of the lease if required? Under what terms can your landlord terminate your lease? Are there restrictions on running your business from home? ACS & ALS can assist you in understanding and negotiationg potential lease terms to ensure that it is the right fit for your business and start up.
Proper financing in and for a start up business is crucial to its success. You may want to find out what sources of finance are available and in turn what the legal implications are. ACS & ALS can assist you in reviewing and negotiating finance terms and agreements to ensure that they are fair and suitable for your business requirements. It is equally important that you are able to meet your financial obligations and legal duties under such agreements.
It is always important to know what your legal duties are when entering into contracts of buying and selling goods and services. It is crucial to your business (new & on-going) that you understand the terms of contracts that you may be entering into for your business and that you are protected.
Intellectual Property (IP) refers to ideas you create and legally own. IP can include inventions, literary and art work, designs, symbols, names and images. ACS & ALS can help you protect your IP. By owning your designs, you can make money from them by allowing other people or companies to use them or you could sell or licence them to someone else at a later stage. It is crucial that other businesses or agencies that you may be dealing with to assist in creating something for your business, that your contract states that you are the owner of the IP of anything that they create using your IP or in turn, that you have the legal right to use it as you wish.
As your business expands, there will more than likely be a need for employees. You will realise at some point that it is not as easy as you thought it might have been to do it all on your own. Employment law is a very complicated area and is constantly changing. ALS is on top of the Employment regime in the Cayman Islands. Most employment disagreements are caused by badly drafted contracts or dismissal or termination procedures that ultimately do not meet legal requirements. Then what? You may have a bad case of a labour tribunal on your hands. ALS can draft your employment contracts and procedures or review your current contracts and procedures to ensure that you have the minimum required provisions to prevent these kinds of disagreements and help protect you from employment-related legal action. ALS can also provide confidentiality agreements and non-disclosures for your employees to sign upon entering into their employment agreements.
We are of the view that you need to plan for all possibilities in business, good or bad. What happens if you have a fall out with your shareholder or partner? Are they able to force you out? What is your recourse? Where is your protection? What happens to the business if you become ill or die? Are you assets protected? We recognise that this is not something one may want to think about but the fact of the matter is, it is reality and it is good business practice to protect your business and its assets.
ALS & ACS can advise you as to how to protect you interests now and in the future.
If you want members of your family to inherit your business upon death, you will need to ensure this is provided for you in your will. ALS can also help you transfer ownership of your business in the case of retirement.
If you decide that you want to sell your business, ALS & ACS can assist you in a number of different ways. We can provide confidentiality agreements and/or non-disclosure agreements to make sure all the information you are sharing about your business remains confidential and is not shared with other business or people. You would want to ensure that information regarding your current clients, customers, pricing, profits and sensitive financial information stays between you and the party considering purchasing your business. ALS can also assist in making sure that there are no outstanding legal issues that need to be dealt with in the furture and also make sure that the buyer is responsible for paying for all contractors and suppliers etc after you sell your business.
We play a key role in due diligence, which is a complex and lenghty prcoess where a business or indvidual is investigated for a range of things including fraud, pending litigation, sanctioned individuals, etc. ACS & ALS can assist you in acquiring all the required KYC and due diligence on the individuals or company purchasing your business to make sure it is the right decison and transaction for you.
ACS & ALS has a huge network of service providers, we can put you in touch with anyone, anywhere, anytime. Feel free to share your business plan with us and also tell us what you may be missing or need and we will do our best to find a solution.
We are in the business of providing solutions!