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. C

    NSW Accident in Company Vehicle

    My son who is a 3rd year apprentice carpenter had been given permission by his employer to use the company vehicle for work and private use. He had an at fault minor accident whilst using the vehicle in a private capacity. His employer is not willing to make a claim on the insurance policy and...
  2. T

    NSW Division 7A loan repayment

    My wife and I own two private companies. Company A has operated since 1979 in the same line of business. It has retained profits in excess of $3M and available franked dividends of $1M. Company B was incorporated two years ago and hasn't traded. My wife and I owe Company A $2.2M via a Div. 7A...
  3. S

    Made redundant and owed $50K by the company

    Hello; I was made redundant in January. The company had not paid me since October, and owe me, including lieu and outstanding holiday, $50K. The company has < 5 employees, is cash strapped and unable to pay many of its bills, including other current and past employees. What should I do?, am...
  4. J

    VIC unregistered company advice

    I am currently in a dispute, or rather a non-dispute, with my neighbor. This individual moved in and expressed interest in repairing the fence. I informed him that it wasn't a priority for me, but he suggested he could build the fence and I could make the payment by the end of the year and he...
  5. ksivasub

    VIC In real estate, is it mandatory for a company or its trust account to have a credit license or an Australian Finance License?

    I know that a company has purchased a property in its business name using its trust account. This trust account is funded possibly by the investors of that company and by the public. In this case, should the business that bought the property and/or the trust accounts of that business have a...
  6. R

    NSW Becoming part of an Employee Share Scheme in a UK company - as a NSW sole trader

    Hi there, I am working for a UK-based company as a self-employed sole trader living in NSW. The UK-based company is putting in place a Share Option Plan that they want me to be a part of. For the UK resident that work for the company, this will be constructed as an Enterprise Management...
  7. N

    QLD Employees paying excess/damage if at fault driving company trucks

    Excess for insurance on accidents. Can I ask the full time lorry drivers I employ to pay the excess or part of, if they have an accident and it’s their fault? Can I include a clause in their employment contract supporting the above and how should I word it?
  8. Papakula

    WA Unfair Treatment by Car Rental Company: Undisclosed Fee, Contract Evasion, and Coercive Tactics

    Description: I recently had an unpleasant encounter with a car rental company in Northern Suburb in Perth that involved a series of unfair practices, leaving me feeling frustrated and taken advantage of. The story unfolds as follows: The issue began when the car rental company attempted to...
  9. MrAndy

    NSW Trademark almost identical but only with imprint of a company

    Hello dear Lawanswers.com-Community. I need your opinion as well as legal advice on the following matter, see below. Would be very nice for your help, please. It is about the following situation: I would like to register a trademark - a word / name to run a homepage and possibly a studio in...
  10. B

    QLD Partner forcefully taking over the company

    My partner and I separated, we have a company that we are 50% equal partners but I am the legal director, she has however locked me out of everything including my emails, I have asked for some information regarding the business and also requested a meeting but she is not answering me, what...