The Corporations Law is not limited to advising an already established organisation. It expands the branches to domains like advising a person to form a company or incorporating expansion in a company. Do you have an assignment similar to this? Do you want to know what are the steps to incorporate and register a company? This guide is for you.
These assignments are necessary for the students so that they can expand their horizon and viewpoint. The corporate lawyers are expected to be aware of every possible dimension.
Step 1. Deciding the structure of the business
Whether it is you writing the assignment or a law assignment writer, you need to check what structure will the organisation follow. This is the first thing to do when you are incorporating a small business in Australia. For that, you need to clearly understand the case study or the question that is given to you.
The way to start here is that you should decide if the type of company you are incorporating satisfy the needs of the situation given to you. For example, you have a question where Mr X is a financial analysts and guides people to which stock should they buy. Such a person when incorporating a business would not establish a law firm.
Step 2. Settling on a name for the company
Choosing a company name is not an easy game. For example, you should advise your client to not name their brand as Adibas (similar to Adidas) or Like (similar to Nike), etc. Why? Because the Australian Securities and Investments Commission says that you cannot choose a business name that is similar to a business or company already in operation.
When you are writing your assignment, using the name availability search engine by ASIC is a great tool. Even law assignment help experts use that.
Step 3. How is the company going to function?
Registering a company is not as easy as it may seem in an online advertisement. Before you hop on the train and announce to everyone that your client is going to be the Founder and CEO of the next Umbrella Corporation, you need to decide how is the company going to function.
Guide the clients and explain to them if their company will be governed by –
- Replaceable rules,
- Have its own set of rules and constitution, or
- Will work with a touch of both
Step 4. Make the clients understand their role as an officeholder
Being the owner of an office does not mean that you can boss around, bark orders to your employees and fire anyone when you want. Being an officeholder is a duty that needs dedication. Also, as their corporate law expert, you need to guide them on various sections of Corporations Act that they must abide with. Some of them are –
- Making sure that the company records are kept up to date
- Maintaining the company records in a register, online or offline
- Paying the fees of the office space and annual review fees as per the norms.
Step 5. Obtain consent from members of the company
When your client is registering a company, it is not going to be one man show, right? You have to tell them that when they are registering a company, they need to get written consent from the people who are going to fill the following roles –
The clients can use their own family members to fill these roles or may hire professionals on salary, that is solely their decision.
Moreover, if space, where the office is going to be, doesn’t belong to your client, you also need to secure written consent from the owner of the office space to use their address.
Step 6. Register your company
The Australian Securities and Investments Commission allows a company to be registered in three different ways. Your client can register theirs as any but you need to identify which one suits their business requirements.
1. Australian Government Business Registration Service
The company owned by your client can be registered through the Business Registration Service of the Australian Government. Using a BRS can help your client to combine several business needs and tax registrations at one place.
2. Private Service Provider
The client can also choose to register the company through a private service provider, or a PSP. No, this PSP is not issued by Sony.
Any person who provides online services with ASIC and charge a nominal fee for their service.
3. Lodge a form with ASIC
You can also fill a form 201 – Application for registration as an Australian company on behalf of your client.
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