Hnd Company Law

2286 Words10 Pages
Company Law – An Introduction Unit Code: DE5H 35 Outcome 1 Melissa Mackenna-500006315 Context Within this report you will find: 1.1. Introduction 1.2. Terms of Reference 1.3. Sole Traders 1.4. Partnerships 1.5. Corporate Bodies 1.6.1. Private Limited Companies 1.6.2. Public Limited Companies 1.6. Conclusion 1.7. Recommendations 1.8. Appendix 1.1. Introduction The aim of this report is to: * Describe the differences in legal personalities and responsibilities between different company types. * Formalities and documents required for registering as a company * Types of corporate bodies and their characteristics (public and private companies) * Advise the best course of action 1.2. Terms of reference The purpose of this report is to advise Karl and Theo in which direction they should expand their business next. Karl and Theo are seeking advice on the different types of companies available and the legal responsibilities involved within the different entities. As stands currently Theo and Karl are currently trading as partners in a sole tradership, both men like and trust one another and they’re skill sets complement each other. They wish to expand although they are unsure in which direction and what each direction means. Currently they have not managed to reach an agreement on their own as to how the business should be organised although they agree that they wish to form a company. Both are unsure if they wish to set up a private or public company and both are unaware of the legal requirements of trading as a company. Karl wishes for a prominent leadership role whereas Theo would prefer a role of lessor responsibility, both wish to know the personal liability that the different company types divulge. In this report I will investigate the personal liability and legal
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