On 21 October 2022, the government announced that it was backing the Protection from Redundancy (Pregnancy and Family Leave) Bill. The Bill recently completed its passage through the House of Commons and had its first reading in the House of Lords on 6 February 2023. Whilst the timeline for the Bill to become law is not yet known, it is expected for 2023.
The purpose of the bill is to extend current redundancy protection, covering maternity, adoption and shared parental leave, to give employees who have just returned from work after parental leave 6 additional months of redundancy protection (in addition to the current 12 months from the date the woman tells her employer she is pregnant). This is a significant step forward for working parents, although some have queried whether it goes far enough? Protected employees can still be selected for redundancy but will have priority over other employees for any suitable alternative vacancies.
Government backs new law to help pregnant women and new parents stay in work – GOV.UK (www.gov.uk)
An Advance Subscription Agreement (ASA) is a financial arrangement between an investor and a company, often a startup or early-stage business. Under this agreement, the investor pays in advance for shares that will be issued at a later date, typically during the company's next funding round.
Read moreFor many founders, securing a strong customer base is central to their company’s long-term value. But what happens when the business is sold, and a key contract allows customers to walk away? This is where Change of Control provisions come into play. Too often overlooked during negotiations, these clauses can have serious ramifications for both your company's valuation and your future business prospects. Here's why founders should carefully consider these provisions.
Read moreIn this article, we are considering negotiated contracts rather than those which one party imposes on another by way of clickwrap or similar methodologies.
Read more