Historical Development Of Incorporation Law

1519 Words Oct 4th, 2015 7 Pages
1.0 Introduction
There are different business structures in Australia. Each business structure has unique set of obligations, legal requirements, convenience or advantages and inconvenience or disadvantages. Purpose of this essay is to understand the incorporated business framework and to explain in depth that why one or more business owner need to register the business as incorporation.
Firstly, essay will have insight over the historical development of incorporation law in Australia since 1901. According to Incorporation Associations (2014) “Incorporation is a method of registration that gives an association legal advantages, in return for accepting certain legal responsibilities” (p. 5). A limited company has certain characteristics and features which are discussed in third section. These characteristics are the platform for the functioning of the incorporated body.
Furthermore, the essential steps which are required to convert or start a limited company will be elaborated in later part. Final section will be the analysis of the question whether a business should be incorporated or not! Which factors business should consider before opting for a business structure and how these factors will affect the business. What are the legal and moral responsibilities of limited companies! In the end, the crux of the essay is that incorporation of the business provides the proper environment for the economic growth.

2.0 Corporate Law in Australia: Historical background
In Australia…
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