When a company is born, the law treats it as a brand-new legal person — one that can own property, sign contracts, sue and be sued, all in its own name. That single idea shapes almost everything a solicitor does in business practice: who is liable for what, who owns the assets, and what a client is actually buying or running. Getting formation right means understanding both the principles behind a company and the practical steps of bringing one into existence.
This lesson takes you from first principles to a fully incorporated, lawfully trading company.
- Separate Legal Personality and Limited Liability — how a company exists independently of its owners, and when (rarely) a court will look behind it.
- Types of Registered Company — companies limited by shares, by guarantee, and unlimited, and how member liability differs.
- Promoters and Pre-Incorporation Contracts — the duties of those who set a company up, and who is bound by contracts made before it exists.
- Incorporation Documents and Process — the documents needed to register and the role of the certificate of incorporation.
- Private and Public Companies — the structural differences and the extra requirements that come with raising public capital.
- Company Names and Re-registration — choosing and protecting a name, and converting from private to public.