We plan to protect our innovation under the

This preview shows page 14 - 16 out of 35 pages.

We plan to protect our innovation under the provisions of the Privacy Act, Competition and Consumer Act 2010 and the Copyright Act 1968. Our business has registered the ‘new beginning performance pty ltd’ trademark and have registered copyright to the logo design for ‘new beginning performance’. We currently do not have any confidentiality agreements in place.InsuranceWorker’s compensation [We have workers compensation for our workers which are regulated under the QLD fair work ombudsman and State Insurance Regulatory Authority (SIRA). Currently we have a nominal insurer under icare.Public liability insurance Our public liability insurer is Fitness Australia, this insurance protects our personal trainers and fitness instructors with any public liabilitiesProfessional indemnity Our professional indemnity will also be insured by Fitness Australia under their Legal Liability cover.Business assetsBusiness assets will be insured by Fitness Australia under their Business Losses Cover, this covers theft & burglary, money, employee dishonesty, glass, general property & cars.Business revenue Business revenue will also be insured under Fitness Australia through their Business Continuity Cover which covers for loss of income and /or rent if your business is interrupted or interfered with as a result of damage, interruption of utilities and access prevention.14BUS12 BusinessAssignment v2.2 (2019/03/18)
Risk management [List the potential risks (in order of likelihood) that could impact your business.]Describe the RiskRate theLikelihoodImpactStrategyDevelopment of land property is currently on[Likely (gym currently located in a high potential development zone)High (gym will have tomove to a nearby location, may not beable to finda unit suitable forthe large gym size)[Ensure that an alternative location is found as a backup in case landlord decides to demolish current industrial complex and develop into an office buildingShared carpark with other businesses, clients may be injured or fatal accidents can occur with car collisions, tripping etc.Highly UnlikelyHigh (serious injuries may result in victim suing the business for civil and criminal charges)Ensure speed limit signs in carpark, discuss with other businesses sharing same carpark, add measures of protection such as speed humpsFitness related physical injuriesVery likely (groups such as children and elderly particularly vulnerable to injury from intensive exercise)Low-High (dependingon severityof injury)Mandatory provisions for minor injuries such as first aid kit, employees fully qualified to perform first aid on clients. Clear statement in contract and waiver form about any serious injuries that occur, and orally explain to all new clients that the business hold to liability for such injuries and they will not suethe business for any claims of compensation if such injury occurs.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture