Commencing a business as a company

Company structures are one of the most widely used business structures in Australia. Key attributes of a company include:

• • it is a legal entity (distinct from its members), has perpetual succession, can sue and be sued and own property in its own name;
• • the liability of the members of a company is limited to the money they owe on any shares they own and/or for any amount of money they guarantee to contribute upon winding up of the company; and
• • shares in a company may be readily transferred (subject to any restrictions in a company's constitution).

See Commencing a business as a company.