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It has been seen that the organizational law in Australia sets out numerous roles and the responsibility for the authority taking care of the business deals. It is very well understood that an organization has got numerous different roles and responsibilities which needs to be rendered in order to comply by the basic legal terms and conditions. While handling the issues from a legal point of view it has been seen that we come across most common three issues:-
Issue 1.Comparison between different forms of organization
Issue 2.Choice of business organization
Issue 3.Companies and its typesIt has been observed that, while each and every issue is of a great importance to us we need to be careful about how well we can manage the entire legal formalities in order to keep the organizations legal issues maintained. We need to be cautious enough for all the causes. In this research work we would discuss on different issues which generally come across in an organization. While we understand different specificity of the terms, rules and regulations we need to take care of all the different aspects as well which goes on in the organization.
Issue 1. Comparison between different forms of organization when it comes to different types of organizations and numerous forms of the same we can say that we have numerous types in our account. Some of them can be stated as:-(a).The one which has a sole trader. In this the most known and common participants are the online traders. In order to justify the business one has to get itself register with the ASIC, Australian Securities and Investment Commission. In this, there is no requirement of having a separate entity and for the same the tax returns needs to be filed as a personal tax return. -It was learnt that it’s an easiest form of an organization and all the profits and the losses are incurred by proprietor alone. In case of any of the legal issue the actions are taken directly against the proprietor. (b). Partnership is the most common form of doing business nowadays. It is known that it generally happens when as per the mutual consent by two or more co-workers to establish a business venture. -In this case the co-workers are responsible for the debts and the profit which they are getting and at the same time equally responsible for the legal actions as well. The partners are jointly liable for all the tasks and the work.(c). Company is the most commonly known type of the organization. It is known to be as the most credible form of the business. While we deal with maximum numerous employees and stakeholders. In such a form of organization the person alone is not liable alone financially and legally. The loss and profit is shared amongst the partners. It enhances the credibility of the organization at the end.
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