Business Law Assignment Solution.docx

Added on - 21 Feb 2021

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Business law
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1How different types of business organisation are legally formed in England............................1Is there any requirement to register a partnership firm? Does person requires to register acompany?....................................................................................................................................2How many directors & Company Secretary are required to start a company?...........................2How to raise fund in Partnership and Company and is there any legal rules which is needed tobe followed while raising fund....................................................................................................2Advantage and disadvantage of forming partnership as compared to company.........................3Which is the suitable form of business organisation and why?..................................................3CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4
INTRODUCTIONBusiness law is explained as collection of legal requirements for the propose of forming,operating, dissolving and engaging with a business. It is necessary because it guides that how anorganisation can be managed. In context of the file, there will be detail description that how ITConsultancy can setup their business within the premisses of UK. Different types of businessorganisation will be also discussed in it.MAIN BODYHow different types of business organisation are legally formed in England.Partnership:It is defined as the form of business entity where different people gathersfor performing business activity at same platform. There are various benefits in this form ofbusiness because it is easy to perform and there are less burden in it due to number of businessorganisation prefer partnership firm as compared to other business organisation. While settingpartnership firm, it is necessary that name of firm should be selected and after that it is importantto choose nominated partners for a firm (Set up a business partnership, 2019). Then, nominatedpartners have to register a firm for HMRC for sending partnership tax return.Private limited Company:It is type of organisation which is managed and organisationby members. Only limited number of person can become the part of organisation and once theyjoin the company, they are not allowed to sell there share to outsiders. This type of businessorganisation gets numbers of benefits as compared to other business organisation and even it iseasy to perform. While setting up of private limited company there are number of conditionwhich is needed to be fulfilled and they are:Select organisation name with address,list of members who will join the company,preparation of legal documents such as article of association and memorandum ofassociation,must pay the registration amount andfinally all of the documents must be submitted to Companies House to start businessactivities (Peterson and et. al., 2016).Limited Liability Partnership:The form of business organisation where liable of everymember is limited except one member who takes the responsibility of each and every work. He1
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