Thursday, August 11, 2005

Big Changes - Corporate Structuring

Seismic shifts are happening in the force! We're splitting in two. Turbo10 and Trexy will form two new companies. We're doing this for multiple reasons: clarity, protection, taxation, risk management and potential acquisition. There's lots to think about. But the sentiments of my old intellectual property (IP) lecturers and mentors are ringing in my ears the loudest. IP is the bedrock of our business and from the outset Meg and I have protected and grown our most valuable asset for the benefit of both businesses. As a result we've come up with an optimal structure and the lawyers are in favour.

In my previous life I worked as a baby barrister in IP law and it's been great to draw on this experience. Meg is also a qualified barrister and I had the great honour of moving her admission to the Supreme Court of Queensland in Australia. We normally handle all the legal documentation for the business ourselves - but there is an old saying, "a barrister who represents himself has a fool for a client." And given the legal complexities it's been great to seek help from other lawyers. Ok. Enough of the legalities - it's back to the technicalities.

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