company

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A company, abbreviated as co., is a legal entity made up of an association of people, be they natural, legal, or a mixture of both, for carrying on a commercial or industrial enterprise. Company members share a common purpose, and unite to focus their various talents and organize their collectively available skills or resources to achieve specific, declared goals. Companies take various forms, such as:

voluntary associations, which may include nonprofit organizations
business entities with an aim of gaining a profit
financial entities and banksA company or association of persons can be created at law as a legal person so that the company in itself can accept limited liability for civil responsibility and taxation incurred as members perform (or fail to discharge) their duty within the publicly declared "birth certificate" or published policy.
Companies as legal persons may associate and register themselves collectively as other companies – often known as a corporate group. When a company closes, it may need a "death certificate" to avoid further legal obligations.

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  1. K

    Transfer shares owned by Pty Ltd into Family Trust

    Hello, This is the situation for which I would appreciate any directions: - I am the sole director of a Pty Ltd company (A). - My family trust, where I am the trustee, owns 100% of its shares. - I have been the single employee of A for the last few years. - Unfortunately, business has gone dry...
  2. R

    VIC Lawsuit against company - what happens if company is unable to pay financial compensation?

    Hello, What happens if an employee wins a case at VCAT against their employer who is a small business (for a discrimination case) & asks for financial compensation - but the employer is unable to pay?
  3. D

    NSW Information request : Negative Google feedback on company, what can be done if I do it?

    G'day all, A friend directed me to this site. I worked for a company and they are not organised, which caused delays and over budget in the project that I was involved in, the project costed twice the budget amount, the company blamed me for that over budget. I did make mistakes (I am not...
  4. P

    WA Termination clause of contract - Do "Group members" include sole trader/company?

    In a supply/distributor agreement with a manufacturer the following termination clause is included - The distributor represents and warrants that neither it not any of its group members (if any) is insolvent or is deemed or presumed insolvent under any applicable law.... The agreement is...
  5. C

    NSW COMPANY TITLE

    I just bought a unit in a company title. The owner in the unit below me is a very heavy smoker and the smoke comes into my apartment. I have met with some of the directors and the refuse to make any rules about this. Am I not entitled to clean air in my own place? The directors are against...
  6. T

    NSW Private company share sale

    My wife and I hold the only paid-up shares in our company. There is a potential buyer of the company who doesn't have sufficient funds to pay for the full value of the shares. Is it legal to sell the shares to him for a down payment, at which time the shares pass to him, with the balance owed...
  7. J

    NSW Unpaid invoices for company being sold

    Dear all, I have an unpaid work invoice. The client was pty Ltd and the business has been sold to another pty/ABN. The first PTY/ABN has not yet cancelled its ABN. The owner of the old PTY/ABN still owns the property of the business however he claimed that the actual business shas gone to the...
  8. BigManCave

    Is this legal for a company setup multiple companies, one to pay their employees, one act as bank account

    My friend's works in a commission based company, however company keep all employee commissions in their company but release approx 30% to them every year. Due to COVID, everyone in his company is worrying about weather if they can get back all their commissions because the company has weird...
  9. L

    QLD payment for work, from a company you don't work for!

    Good afternoon I am after some advice regarding employment pay. I hope this is an acceptable place to ask this. I was supposed to start work with a company in Queensland but didn't and notified them just before the commencement date, as I had a better offer elsewhere. However, before the...
  10. mkbond2008

    VIC Supreme Court Writ for foreign company

    Hi all, Just wondering if it is possible to draft the statement of claim against a foreign company with Form 5A via the Supreme Court in Victoria. Thanks.