Administrators can play positive role

Article Abstract:

The British Insolvency Act of 1986 created the post of insolvency administrator for companies filing bankruptcy. Insolvency administrators, who receive their appointments from British courts after filing a petition sponsored by either the bankrupting company's directors or its creditors, can dismiss company directors or sell company property in order to repay creditors, and must file a plan of repayment with creditors within the first three months following appointment. This system of financially managing bankrupting corporations is compared to bankruptcy systems in Australia and South Africa. The basic problem of how to repay creditors when there are not sufficient assets with which to work is addressed differently by each of the three systems. Australian law allows administrators and receivers to work together without intervention by the court system; the possibility of implementing a similar court-less system in Britain is discussed.

United Kingdom, Corporation law

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Intangible assets, real problems

Article Abstract:

Problems frequently arise when receivers try to ascertain ownership rights to intangible assets such as the trademarks held by an insolvent company. As a rule, receivers opt not to undertake trade mark searches since they can be quite costly. Instead, they rely on information taken from internal records, though these are often incomplete or out of date. Hence, when a purchaser takes over an insolvent company, the purchaser is usually expected to assume the burden of proving the ownership of the company's trademark portfolio. Even then, a trade mark search may not necessarily provide a complete picture of ownership rights to an insolvent company's trademarks. A purchaser studying the issues involved in ascertaining the ownership of trademarks would find it more useful to focus on important points such as transmission rules for foreign marks, assignments of associated marks, and the rights to house marks.

Laws, regulations and rules, Trademarks, Intangible property, Intangible assets

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Buy in the skills you need

Article Abstract:

British start-up firms and entrepreneurs can either recruit experienced managers and executives or take advantage of management consulting firms that specialize in managing new business enterprises. Because the first alternative is difficult to achieve, due to the salaries expected by experienced managers and the potential for interpersonal conflict between the entrepreneur and the experienced manager as to how to run the new business, British management consulting firms seem to be the more attractive solution to this dilemma.

Management, New business enterprises, Startups, Entrepreneurship

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