Using Public Legal Education to Support Local Businesses

  1. Explained that choosing the proper corporate structure for a business is important because it creates a legal framework for the business and indicates the rights, obligations, and liabilities of the enterprise and the owners. They set out some of the main factors that should be considered regarding each corporate structure to guide the participants how to select the most suitable one: the management structure, the ownership, the question of liability, the funding that goes into the enterprise, and the tax aspects.
  2. Focused on three common corporate structures in detail: Sole Trader, Private Company Limited by Shares, and Community Interest Company (CIC) and described the advantages and disadvantages of each of these corporate structures.
  3. Explained how to form a Sole Trader, a Private Company Limited by Shares, and a Community Interest Company, including picking a name, registering for tax purposes, filing the necessary forms and fees with the UK government, and preparing the required and recommended legal documents.

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qLegal — Law clinic for entrepreneurs

qLegal — Law clinic for entrepreneurs

We provide free legal advice and resources to tech start-ups & entrepreneurs in the UK, at Queen Mary University of London. @qLegal_ on Twitter and Instagram!