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Company Law Assignment : Advice in relation to business venture

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You have been approached by a friend who has asked you for advice in relation to his/her business venture. Your friend has no previous experience of company law and is unsure what business model would be most appropriate to his/her particular situation and is unaware of the legal rules applicable to each model. You have been asked to prepare a written briefing document and short presentation advising your friend of the business model you believe is most appropriate for his/her needs, giving reasons for your answer. In your briefing document and presentation, you should outline the legal ru...

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Question Preview:

You have been approached by a friend who has asked you for advice in relation to his/her business venture. Your friend has no previous experience of company law and is unsure what business model would be most appropriate to his/her particular situation and is unaware of the legal rules applicable to each model. You have been asked to prepare a written briefing document and short presentation advising your friend of the business model you believe is most appropriate for his/her needs, giving reasons for your answer. In your briefing document and presentation, you should outline the legal rules and principles relating to your chosen business model, making reference to the relevant legislation and/or case law, where appropriate.

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Business models as well as their pros and consSetting up business in Ireland requires following specific models and the models can be considered as guidance for the business expansion. Out of all the business models in Ireland, the following study has focused on the sole-trading model, partnership model, public company model, and private DAC/ LTD model. Therefore, along with the advantages and disadvantages, associated with selected models, those can be illustrated as follows:

Analysis of legal rules for selected models: It can be observed through the analysis of the current case study, private LTD model is most appropriate for the current case study. It has been observed that Kevin has set up Kevin's KarKleaning to earn extra from car cleaning without appointing any other director in the company. Thus, according to the Companies Act, 2014 of the Irish constitution, the private LTD business model can be considered suitable for Kevin’s business (Anne Brady, 2019). Similarly, Kevin can elevate the cash limit of business as per his requirements.

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