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A Business Start-up Report.

Extracts from this document...

Introduction

A Business Start-up Report By Martin Crangle Table of Contents Introduction 1. Private Limited Company 1.1. What is a Private Limited Company? 1.2. Limited liability 1.3. Members 1.4. Address 1.5. Contractual capacity 1.6. Criminal liability 1.7. Shares 1.8. Dissolution of a Private Limited Company 1.8.1. Voluntary winding up 1.8.2. Compulsory winding up 1.9. Summary of a Private Limited Company 2. Partnerships 2.1. What is a partnership? 2.2. The Partnership Act 1890 2.3. Agency 2.4. Liability in contracts 2.5. Liability in torts 2.6. Liability by holding out 2.7. Unlimited liability 2.8. Limited Partnerships 2.9. Limited Liability Partnerships 2.10.Dissolution of a Partnership 2.11.Summary of a Partnership 3. Documents required 3.1. Memorandum of Association 3.2. Articles of Association 3.3. Form 10 3.4. Form 12 3.5. Deed of Partnership 3.6. Passing off 4. Legal Rules Effecting management of a Private Limited Company 4.1. Directors of a Private Limited Company 4.1.1. Fiduciary duties 4.1.2. Duty of skill and care 4.1.3. Duties to outsiders 4.1.4. Statutory duties 4.1.5. Duties to employees 4.1.6. Duties to shareholders 4.1.7. Duties to creditors 4.2. Board Meetings 4.3. Debentures 5. Legal Rules Effecting management of a Partnership 5.1. Remuneration 5.2. Disputes 5.3. Financial records 5.4. Removal of a partner 5.5. The duty of good faith 6. Conclusion 7. Employment Law 7.1. Hiring 7.2. Working 7.3. Contract of Employment 7.3.1. Duties of an employer 7.3.2. Duties of an employee 7.4. Additional statutory rights 7.5. Discrimination 7.5.1. Sex Discrimination Act 1975 7.5.2. Race Relations Act 1976 7.5.3. Disabled Persons (Employment) Acts 1944 & 1958 7.5.4. Remedies Form 10 Form 12 Introduction This report is designed to outline the ways in which you can start trading as JAC Catering and offer my advice on what I believe to be the best way forward. With the capital you are investing you can trade as either a: Private Limited Company Or Partnership Chapter 1 Private Limited Company 1.1 What is a Private Limited Company? ...read more.

Middle

* Agreed expiry of a single transaction. * A single partner informs the others that they wish to dissolve the partnership. 2.11 To summarise a partnership... Advantages * Greater availability of capital. * Possibility of better decision making as personal assets are at stake. * Clients may see partnerships as having tighter controls Disadvantages * Authority is divided. * Full trust and cooperation between partners is required. * Each partner has unlimited liability. * Decision making can be delayed as all partners have to be consulted. Chapter 3 Documents required As I have all the necessary details, and you have informed me that Christine will be company secretary, and due to JAC Catering being unavailable, AJC Catering will be the company name. If you decide on forming a Private Limited Company then I will fill in the following forms for you: 3.1 Memorandum of Association The Memorandum of Association is one of the two documents that are legally required to form a company. It specifies the following: * The company name. * Where the registered office is (England, Scotland, Wales). * A statement of limited liability on the shareholders. * A statement of the companies authorised share capital. * The signature of one or more persons who will be the companies first shareholders. * The objects of the company (what it will do). The Memorandum of Association defines the objects as "carrying on business as a general commercial company". A format can be used by formation agents and means the company can carry out business as it wants without being too specific. 3.2 Articles of Association This is the second legal document needed to form a company and details how the officers and shareholders will run the company. Usual practise is to adopt the statements from a legal table known as "Table A". Table A is a set of numbered paragraphs and defines items such as how much power the directors have and how resolutions will be passed. ...read more.

Conclusion

In March 2003 a male Job Centre worker successfully won his case in an employment tribunal where he was made to wear a shirt and tie, while female colleagues were allowed to wear t-shirts. 7.5.2 Race Relations Act 1976 Race Relations Act 1976 covers discrimination on the grounds of colour, race, nationality or ethnic or national origins. MANDLA v DOWELL LEE 1983 classed ethnic origin as being: "a long shared history and cultural tradition are essential. The group differentiates itself from others and its cultural traditions: family, customs and manners are maintained". Other conditions can also be considered: * Shared origin (geography) or descent - common ancestors * Language (though this need not be exclusive) * Common literature * Religion, may be different from neighbouring groups * Being a minority or dominant or oppressed group in a community From the MANDLA v DOWELL LEE case it has been decided that Sikhs, Jews and Gypsies are to be considered as ethnic groups, but Jehovah Witnesses and Rastafarians are not. Matters relating to race discrimination can be either: * Positive discrimination - whereby providing selection criteria is based on merit, an employer can promote job applications from under-represented groups. * Positive discrimination - where only a certain ethnic group will be considered for application is unlawful. 7.5.3 The Disabled Persons (Employment) Acts 1944 and 1958 The Disabled Persons (Employment) Acts 1944 and 1958 state that any company that employs over 20 people must fulfil a quota that 3% of their workers should be disabled. Very few companies have been prosecuted. Many think that due to societies changing attitudes towards disabilities, as well as technological advances, a 50 year old act is somewhat outdated and should be revised. 7.5.4 Remedies Remedies can be taken for anyone subjected to any form of discrimination. Complaints should be lodged within three months of the act taking place. The usual course of action is to award compensation (no limited is stipulated) and that the discriminatory act be removed from the business. Legal & Regulatory Framework Assignment 2 - J.A.C Catering M.Crangle Page 1 of 24 ...read more.

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