Originally founded in name in 1959 in Western Australia, the resurgent Bond Corporation Holdings (Australia) Pty Ltd or BondCorp, intention is to ethically acquire and protect Australian enterprises' intellectual property who may have unintentionally and in some cases illegally not protected their intellectual assets properly. 

 

Our intervention avoids property being potentially poached by foreigners for exploitation, which in recent years has become more profound whereby large ‘ransoms’ may be tabled to reacquire the property, which becomes quite lucrative for foreign poachers as the AUD diverges from their local currency and whereby they can threaten to advise the Australian government regulator (ASIC) of potential illegal trading. 

 

It’s important to consider pertaining to the above that recent Commonwealth legislative changes (November 2018) have meant fines of up to $6,300 (30 penalty units) may apply for carrying on a business without having an official business name registered on the Australian Business Register (ABR). 

 

It’s furthermore important to apply common sense, that both ASIC and the ATO work closely together as regulators to identify unregistered business entities (names) and obsolete trading names from the tax lodgement system to potentially therefrom act and penalise accordingly

 

We therefore see our role as one small step at a microeconomic level in protecting our nations business interests and underlying economy and ensuring that businesses operate within the confines of the law and pay Australian government registration levies for upkeep of the taxation and corporate regulatory systems.

 

Despite many entities believing this is their accountants responsibility, a number of accountants regard their responsibility as purely quantitative (financials, tax compliance and tax advisory) with only a proportion extending into the qualitative aspects of business such as risk management, operations management and business administration (Eg. ASIC compliance and registrations). 

 

Similarly, where applicable from a legal advisory aspect this may have either been overlooked at inception or otherwise intermittently, whereby a needs analysis like duty of care was not conducted to identify intellectual property at risk and recommendations therefrom to protect. 

 

It’s also important to note unless specifically engaged by a legal or financial professional, or whereby ASIC reminders for payment to maintain registrations weren’t adhered to, that the responsibility for intellectual property and necessary registrations fall solely with the proprietor.