Monthly Archives: August 2016

Avoid The Company Compliant Tips

One of your main priorities as a business owner is to oversee your company’s accounting and tax obligations. A good Accountant is worth their weight in gold, and can take a huge burden off your shoulders. They can take care of your company’s annual returns, payroll, VAT returns, CT returns and statutory annual accounts. It is vital that you choose a dependable Accountant to carry out these tasks as mistakes can be costly.

 

Ensure your company secretary is capable and keep your statutory registers up to date

By law, every Irish company is required to appoint a company secretary. The main duties of a company secretary are to ensure that the company complies with the law, manage the company’s daily administration and any additional duties that company directors may delegate. Whilst there is no qualification requirement for this role, it is important that your company secretary possesses the skillset and knowledge required to keep your company compliant.

The secretary will generally maintain the statutory company registers, which are required to be maintained under the Companies Act. The statutory registers include the register of directors and secretary, members, beneficial owners, transfers, directors and secretary’s interests and debenture holders.

 

Know your dates and put your company on a ‘watch list’

Once your company has been incorporated, it is good practice to add your company to a ‘watch list’.  A watch list will remind you via email that your company’s Annual Return Date is approaching and it will alert you should any changes be made to the company at the Companies Registration Office. Core.ie provides this service free of charge once you register with them.

 

Understand your role as a director

Company directors’ have a wide range of responsibilities which can be quite diverse. Company directors have to comply with the Companies Act 2014 and have duties under Common law. If a director is found to have breached company law, he or she can be liable to penalties that can range from a fine up to €500,000 or a maximum jail sentence of 10 years. There are different categories of offences ranging from 1-4 under the Companies Act.

To avoid such circumstances, company directors should become familiar with the responsibilities and duties of the role. Information can be found on both the CRO and ODCE websites.

 

Know the requirements for company letterheads and websites

One requirement that often gets overlooked is the requirement for Limited companies to list their full legal title on company letterheads. This includes the company name, company number and registered office address. As well as this, the company directors must also be listed by name in the footer. Both forename and surname must be included and the nationality in brackets beside any director who is in not Irish.

Company websites are another location where a company’s details must be displayed. This includes the company name, number and place of registration. This must be located on the website’s homepage or must be on an alternative web page that is to linked to from the homepage which is easily accessible.

If you have a database of customers or potential customers, it is important that you are aware of your requirements under Data Protection legislation.

 

Keep minutes of meetings and have an AGM

Keeping minutes of directors’ meetings is a requirement under the Companies Act and is prudent to ensure key decisions and matters are noted and dealt with. The Annual General Meeting (AGM) is a meeting of shareholders (and directors) of a company where they have the opportunity to ask questions and get information about the company. Whilst this is no longer a legal requirement for most companies, it is a good idea to ensure this takes place. It is usually the duty of the secretary to call the AGM and give 21 days’ notice to the members.

The Most of National Digital

As part of our ongoing commitment to the digital sector in Ireland, AIB are the lead sponsor of Skibbereen’s Ludgate Hub, Ireland’s first rural Digital Hub. The Hub offers local businesses world-class fibre-optic broadband in a state of the art 10,000 sq ft facility that rivals anything in Silicon Valley. AIB has also sponsored National Digital Week since its inception last year, and we’ve got big plans this year with a fantastic line-up of speakers on the AIB Brave Stage all week. Read on for our insider’s guide to the best talks, workshops, and entertainment at this year’s National Digital Week.

 Who to Catch

Kick off the festival on an inspiring note at the AIB Brave Stage, with some uplifting stories from our Digital Champions – including Trendster’s Harry McCann, Lord David Puttnam, and Dr. Seamus Davis from Cornell University. Or dig deep into the future of farming, with talks and demonstrations on tech, innovation and food science, from luminaries like Drone Expo Ireland’s Ian Kiely, THRIVE AgTech’s John Hartnett, and our own head of Agri Business, Tadhg Buckley – all on the Google Stage. We’ll be shining the spotlight on female leadership on Friday, with FM104’s Margaret Nelson, Geraldine Karlsson from DoneDeal, and Ericsson Ireland MD Zelia Madigan taking the temperature of women in digital. On Saturday, we’ll be talking all things Internet of Things, with Leonard Donnelly from ARTOFUS, Donal Sullivan of Johnson Controls Ireland, and Debbie Power from Vodafone. And if you’re a business owner, make sure to stop by the Google Digital Garage all day Friday and Saturday, where Google’s experts will be offering free one to one sessions for all festival attendees to give you a crash course in all the skills to take your company to the next level online.

 

Where to Go

The bulk of the action during National Digital Week will take place at the West Cork Hotel in the centre of Skibbereen. You won’t be able to miss the AIB Brave stage. We’re right beside the registration area as you enter the hotel – and adjacent to the Food Hall if you’re feeling peckish. Still feeling lost? You can check out the event map here. The National Digital Week website also has you covered for accommodation, with info on some of Skibbereen’s best hotels and B&Bs.

 

What to do After Hours

You won’t be short of things to do once the talks end and the real networking begins in the pubs and restaurants of Skibbereen. On Thursday night, NDW attendees can take a tour of some of the town’s best bars with entertainment including a trad session from local legends, Brendan McCarthy and Derry Moynihan, an old-school storytelling session in Annie May’s pub, and a special performance from folk duo Alchemy in The Corner Bar to round off the night. If you want to sample some local cuisine in spectacular surroundings, The Church restaurant is housed in a 19th century Methodist church which retains its original stained glass windows and has a crowd-pleasing menu to provide some serious festival fuel. On Saturday, rabble-rousing festival favourites the Booka Brass Band will finish the week off in a style with a gig at the Google Stage, before DJ Ian Richards takes the party into the early hours with a party-starting mix of funk, soul, and rock & roll.

National Digital Week takes place from 10th – 12th November in Skibbereen, West Cork. Get all the info you need at the official site and stay tuned to AIB’s social channels for exclusive video content from the festival.

The Important of Brand Names

There are many types of brand names which do not qualify for trade mark registration and these include “descriptive” trademarks. A trade mark is considered descriptive if it has a meaning which will be immediately perceived by consumers as providing information about the goods and services on offer. For example, the mark DetergentOptimiser was refused registration for washing machines (laundry machines / dishwashing machines), the mark ELITEPAD was refused registration in respect of tablet computers and the mark Original Eau de Cologne was refused registration for cologne.

 

All of these trademarks provide immediate information about the goods being sold. The rationale behind forbidding registration of descriptive trademarks is that purely descriptive terms should be left available for all traders to use. However, it should be noted that trademarks which are merely suggestive of the goods or services are generally protectable.

 

Trade marks which attribute quality or excellence to the products or services on offer are also unregistrable because they are considered descriptive in a laudatory sense. Examples of laudatory terms include “Finest”, “Prime” and “Deluxe”. The reluctance to permit registration of laudatory trademarks is based on the belief that the customer will view the mark as a promotional or advertising term which describes positive aspects of the goods, rather than as a trade mark denoting trade source.

 

If a brand owner is concerned that its trade mark could be refused registration because it is descriptive / laudatory, the crucial question is whether the mark provides immediate information about the goods or services of interest.

 

If there is no direct and concrete connection then the mark should be able to be registered. Therefore, brand owners should make efforts to adopt brand names which are distinctive and do not describe characteristics of the goods or services e.g. Amazon for books, Starbucks for coffee or Apple for electronic goods. Non-descriptive trademarks are generally the most desirable brands and are much easier to protect and enforce than descriptive names.