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Corporate Law
A report investigated relevant suggestions on the establishment of a company and suggest on Ted’s case. This report illustrated the registration procedure in details, and makes a statement on whether Ted can perform the process of registering company. In addition, there are some comparisons between advantages and disadvantages of different types of companies. The report also suggested the most appropriate company to form in Ted’s situation and represented related information on conversion of a company’s type. Moreover, in the report it demonstrated the ongoing requirements that a company must meet if it is formed. Meanwhile, the report showed the liabilities of actions for Ted and his employees after establishing the company. Besides, the report demonstrated whether Ted can restrict the sale of any shares in the company and the reasons. Finally, some further advices were added for reference.
Details
| language |  | english |
| wordcount |  | 3569 (cca 10 pages) |
| contextual quality |  | N/A |
| language level |  | N/A |
| price |  | free |
| sources |  | 0 |
Table of contents
Synopsis iii
Introduction 1
1. Registration Procedure 1
1.1 Select Type of Company 1
1.2 Select Company’s Name 2
1.3 Obtain consents of Proposed Members, Directors and Secretary 2
1.4 Select Registered Office 2
1.5 Prepare Constitution or Rely on Replaceable Rules 3
1.6 Lodge Application for Registration with ASIC 3
1.7 Pay Registration Fees 3
1.8 ASIC Issues Certificate of Registration 3
1.9 Particular Requirements 4
2. Ted Could Perform the Process of Registering Company 4
2.1 Definition of a Promoter 4
2.2 Duties of Promoters 4
2.3 Remedies for Breach of Duties 5
3. Advantages and Disadvantages of Different Types of Companies 5
3.1 Common Advantages and Disadvantage 5
3.2 Proprietary Companies 6
3.3 Public Companies 6
4. The Most Appropriate Company to Form and Conversion of A Company’s Type 7
5. The Ongoing Requirements That a Company Must Meet 8
6. Liabilities of Actions after the Formation of a Company 8
7. Restriction the Sale of Any Shares in the Company and Its Reason 9
8. Further Advices 10
Conclusion 10
Bibliography 11
Preview of the essay: Corporate Law
This report was made to solve Ted’s doubt about setting up a company. In this case, Ted’s Corporate Services is run by Ted as a sole trader, whose business has been expanding rapidly in the last two years. The business has a turnover of about $1.5m with about $2m in assets which include a car, van, storage area and various machines used for cleaning. In addition, Ted has both his wife and two children working in the business and is hoping to retire and sell the business to his children in about five year’s time. He employs three other people and occasionally uses casual workers when there is big event. Moreover, Ted believes he can expand the business further if he has more capital, though he is concerned about the risks of a larger scale business. So he asks for advice about forming a company and he has heard ...
... the company’s shares within his family. So, to ensure the “dominant control” of the company, Ted should be cautious to not let his shares be diluted too much and to make sure that he has controlled the majority of the company’s shares. As is mentioned above, one of the disadvantages of a private company going public is the separation of ownership and control, which indicates the potential loss of control and the harder management of the company. He also needs to deal with institutional investors. Therefore, Ted is expected to weigh the pros and cons before making the decision.
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