Structure – Corporate Lawyers
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Protect Yourself With The Right Corporate Structure
Getting the right legal structure for the right business purpose is fundamental for a number of reasons, but mainly we find that businesses do not incorporate fast enough and leave the business owner and their assets open to risk.
Having a separate legal entity set up to conduct business, which is distinct from the business owner or owners, is a crucial set many small business owners forget.
If you’re a sole trader or partnership, you and the business are one and the same, so if the business was to come under fire, you personally are on the hook for the debts/liabilities of the business.
If the business is not a hobby, and involves any legal risk (for instance if you’re conducting business to business services), or if you have personal assets you wish to protect, then you should consider incorporating the business to a proprietary limited company (Pty Ltd) sooner rather than later, no matter what the financial advice you might receive about waiting for tax benefits to “kick-in” at certain revenue levels.
Why Progressive Legal?
At Progressive Legal, we provide practical, skilled and timely legal advice including tailored legal documents to growing Australian businesses.
In addition to providing you with expert legal advice in relation to corporate structure, we can also help you with: intellectual property protection (including trade marks), tailored commercial legal documents and advice, workplace law, and dispute resolution.
- We specialise in helping growing businesses;
- We deliver pragmatic fixed-cost arrangements and obligation-free quotes;
- We’ve worked with over 3,000 businesses in Australia;
- Unlike other Law Firms that require monies in trust before lifting a pen, we do the work first and offer payment arrangements to work with you and your budget.
The team at Progressive Legal will help you with tailored legal documents and advice around corporate law and choosing the right legal structure.
Corporate Law Legal Documents and Services
We can help you with:
- Corporate Power of Attorney
- Unitholders’ Agreements
- Joint Ventures
- Capital Raising & Investment Legal Advice
Corporate Law FAQs
What is corporate structure?
What is corporate structure and what is the right structure for your business?
Corporate structure refers to the management, ownership and legal obligations of any business.
All business owners need to decide on what structure to set up. Each different structure affects how you operate as a trading business.
For a business run as a company, the incorporated Pty Ltd structure applies. The business becomes a separate legal entity, unlike a sole trader structure, where the owner and operator are the same, usually in an individual’s name.
Under this structure, the company has the same rights as a person. The company can incur debt, sue and be sued.
What are the types of business structures in Australia?
In Australia, there are four commonly used business structure types. These are:
- Sole trader
- Partnership
- Company
- Trust
Each of these different structures are different and it’s important to understand your responsibilities within each, as each type of structure may affect your tax liability, how your assets are protected and various cost implications.
If you’re not sure on which structure is right for your circumstances, it is best to seek legal advice from a corporate lawyer. Lawyers can give you guidance on the right legal structure for the right business purpose.
Which business structure is best for me?
In working out what the best business structure is for you, a number of different factors need to be taken into account. The choice will depend on your unique set of circumstances.
If you need any help in setting up a business, we’re happy to help protect you and your valuable business. Contact us today for assistance with deciding on the right business structure.
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Get Expert Advice from a Corporate Lawyer Today
Deciding on the right legal structure for your business is vitally important for success.
Get in touch with our corporate lawyers today for a no-obligation free quote, by calling the number below or leaving a message in the contact form on this page.