cazalea
[Seiko Moderator]
17098
Very instructive (and tedious) reading ...
which goes to show that you have to be quite wary when going into partnership or even entering into a services agreement, because a "marriage" is enjoyable and can be done quickly in passion, but a divorce is painful and drawn-out (speaking here of companies and not of lovers).
Being in management consulting in a specialized area of business, I have worked under several sets of terms, in UK, Canada and USA - both speculative ones such as these, and the simple "work for hire" basis.
After several of the former went south, I gave up on hopes that my ship would come in ... I believe I still have several sets of worthless agreements, and some worthless shares, in my safe deposit box.
Sigh. But I never went to court as I had better things to do with my time than beat a dead horse.
Since then I have taken plain old money for my work and never looked back.
The fact that this happened in a watch-related business exposes a bit of the undergarments of the industry but the basic issue is common to all business dealings.
Cheers,
Cazalea
Interesting legal judgment re. "Watchfinder"
Some of you may be familiar with the "Watchfinder" website, which buys and sells used watches in the UK. In the course of my work, I came across a recent legal judgment in which the Court found against Watchfinder in a shareholder dispute. The judgment sh...
Very instructive (and tedious) reading ...
which goes to show that you have to be quite wary when going into partnership or even entering into a services agreement, because a "marriage" is enjoyable and can be done quickly in passion, but a divorce is painful and drawn-out (speaking here of compan...
Just Wow! what an interesting read
I really love reading about just how the law works and is implemented and for me that made for some really fascinating and educational reading. If I'm honest these sort of disputes as can be seen in this case usually start but not making clear at the star...
Profitability
I have no problem in understanding the low net margins for a UK registered unlisted company. Just assuming: Directors' bonuses/fees/remuneration are charges against profits so the annual profits of the business would have likely been extracted in that way...
Financials
UK is a very transparent country, you can find their financials in the online companies house for free: - then click on Full Accounts 2016 61m sales, 51m cost of goods sold, 3.3m operating profit essentially they have ~16% gross margin on watch sold befo...
Companies House
I use the Cos Hs website on a weekly basis for my work researching and filing information online there. It is now much better than it used to be. I did not bother to look up Watchfinder. Best Clive
