Company Law for Business


see the attached document


In Australia, Sarah and Jane could have chosen to operate their business under the four common business structures: sole trader, partnership, company, or trust. Each of these structures has its own advantages and disadvantages .
(i) Separately
As separate business person, Sarah and Jane could have operated as sole traders.
 Easy to establish
 There is no sharing of profit
 The trader has total control of the business
 Easy to operate
 It is not restrained by stringent legal framework
 Low start-up costs
 Maximum privacy
 Easy to wind up
 Unlimited liability of debts
 Limited sources of capital
 The trader is tied to the business
 The life of the business is tied to the life of the trader