A warning has been issued to Britain’s top companies by a Governmnet Minister that they will be named and shamed if they fail to sign up to the Prompt Payment Code. The code, which was drawn up by the Institute of Credit Management, has been in operation for four years. Its signatories commit to paying
The Government has announced new proposals to make it easier for consumers and small firms to take action against unfair business practices. The new measures were announced by the Competition Minister Jo Swinson who said: “Actions like price-fixing or imposing unfair trading terms can really harm businesses, particularly small businesses, and restrict their ability to
An estate agents firm has been fined nearly £12,000 for failing to comply with anti-money laundering regulations. The Office of Fair Trading (OFT) took action against the Leicester-based IPS Estate Agents Ltd after it breached a number of the requirements of the Money Laundering Regulations 2007. The OFT said the failings related to verifying the
New permitted development rights to allow offices to be converted into homes without the need for planning permission have been introduced. The move is designed to provide much needed new homes, regenerate town centres and provide a boost for the construction industry. The permitted development right will be in place for three years. Local authorities
The court heard that Utopia Tableware Ltd had registered and unregistered design rights over its Aspen range of glasses, which were characterised by being tall and having a narrow waist towards the centre. The glasses were used by some major brewing companies. Utopia objected when another manufacturer started producing glasses which were very similar in
Redundancy regulations are being modified in a move designed to help both businesses and employees. The main change is to reduce the minimum period before large scale redundancies can take place from 90 days to 45 days. This affects redundancy programmes involving more than 100 employees. The Government will also legislate to make clear that
The courts are seeing an increasing number of disputes between landlords and commercial tenants over break clauses. It’s thought the economic downturn is putting pressure on both sides to minimise their financial losses. It means landlords are now more likely to scrutinise tenancy agreements as closely as possible to prevent a break taking place. A
A model agency has won its case against a former employee who defrauded it of £21,000 and disclosed some of its confidential information while helping to set up a rival business. The employee had worked for the agency as a booker responsible for hiring models. His contract of employment restrained him from engaging in competition
Nine out of ten small and medium-sized enterprises (SMEs) say they would quickly go out of business if they didn’t have access to an overdraft, according to a recent survey. The commercial finance group, ABN AMRO, questioned 250 SME owners, managers and finance officers. The survey revealed that 89% said that their firm wouldn’t last
Businesses will soon be able to use a new 90-day premium service when applying for patents. There will also be a faster trademarks service which will provide a full examination report in five days instead of the current 10 days. The changes, which will be introduced by the Intellectual Property Office (IPO), were announced in