Business Structure And Potential Legal Issues

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Business Structure and Potential Legal issues Ownership Structure Our company will be known as “Life Saving Charger Pty Ltd” The starting of the company will have 4 group of Director members in a partnership which will do initial investment. Partners will share risk and responsibility it will make easier for us to raise finance .All the shareholders will equal share in profit or loss. And the disadvantages for partnership structure is every individual is personally liable for debt and the authorities are divided so sometimes have a problem to take decision. To set up company there are few things that needed to done is • Selection of company name • Choosing the logo and registration of the company • The partnership will need ABN and its…show more content…
Customers Dissatisfaction As our product will be itself new in the market we need to focus more on the customer satisfaction. If our clients are not happy with the product they can file legal document against our product. This may harm the brand name of the company and individual as well. So to be protective we will arrange and online help to use our product and instruction manual so it will be friendly user for our customers and also phone lines will be set for customer support. Terminating the Partnership We can arrive to situation where one partner wants to leave the partnership firm there are few situation which can occur • If partnership is created for fixed time once the time is over partnership dissolves • If partner deceased their family members will get their share after 6 months. • If partnership is engaged in unlawful activities the fir will be dissolved • There won’t be transferability of partnership. • If partnership is made for specific term, then after the intention is attained partnership can breaks up. • Legal document will be signed by very partner and if company faces loss each partner is liable. OWNERS The company will have 4 Group of Directors The New York Times said it best: “Life is becoming increasingly mobile … if only the batteries lasted long enough.” That is why Energy Harvesters created the Walking Charger to give people the ability to Charge Mobile Electronics Batteries Anytime, Anywhere™. Walter Rozairo
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