Company Law Advice
As a business owner, you know that running a business can be both rewarding and challenging. As you grow and expand, it's essential to stay up to date with the law and regulations that govern your business; this is where company law comes in.
Company law refers to the legal framework governing the formation, ownership, and management of companies. It covers a range of topics from corporate governance to intellectual property. It is key to ensuring compliance and protecting your business interests.
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What is company law?
Company law sets out the rules and regulations that companies, and predominantly their directors, must follow to ensure they are compliant with the law, while working to protect the interests of the shareholders, directors and other stakeholders.
This includes corporate governance, financial reporting, employment law, intellectual property, formalities around mergers and acquisitions, and the legal obligations of directors. It provides the legal framework for creating and operating businesses and establishing accountability of the companies and their directors.
Why is company law important for a business?
Compliance with company law helps businesses build trust with key stakeholders, which can improve reputation and help attract investment and customers, and avoids legal liability for non-compliance.
Compliance also provides a framework for resolving disputes between shareholders, directors, and other stakeholders, mitigating against costly and damaging legal disputes. Company law allows companies to operate in a way that is fair and transparent, while also, if the rules are followed, protecting the business and its owners from legal liability.
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What are the legal requirements for setting up a company in the UK?
There are multiple legal requirements for setting up a company in the UK, including:
Choosing a business structure
Choosing a company name
Drafting and filing legal documents including the company’s constitution
Registering the company
Appointing directors and officers
Issuing shares or creating a membership
Filing details of the persons of significant control
Obtaining licences and permits
Complying with tax requirements
In addition to this, there are other legal requirements for the ongoing operation of the company including filing requirements, employment law, data protection and health and safety regulations. It is advisable to seek professional legal and accounting advice to ensure compliance in all areas both before setting up a new company and while running it.
Why Nash & Co?
Our team work with a range of businesses from start-ups and SMEs to large family-run businesses and larger corporates, advising high net worth investors, private companies, owner-managed businesses and entrepreneurs. While our work is varied, our approach is always the same: we’re pragmatic, highly experienced, and we work as a team, both with our clients and other teams at Nash & Co, to ensure that you get the best advice and support possible.
Our corporate lawyers will take time to get to know you and your business so that their specialist knowledge and experience can be put to best use. By doing this, we can provide you with a comprehensive strategy that will benefit you and your business and minimise risk.
Frequently asked questions
In this comprehensive video series, our experienced corporate and business law experts will tackle a wide range of topics and questions that commonly arise in corporate and business environments. From legal structures and contracts to intellectual property and employment law, we've curated this series to empower you with practical information and valuable insights to help your business thrive.
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The legal structure refers to the way a business is organised and governed, in accordance with the law. There are several common types of structure:
Sole Proprietorship: a business owned and operated by an individual
Partnership: a business owned by two or more individuals or a combination of one or more companies and at least one individual
Company Limited by Shares or by Guarantee (Limited/Ltd/PLC): a business where the company has its own legal status and the owners, of which there are one or more, have limited liability
Limited Liability Partnership (LLP): a business where the LLP has its own legal status and the owners enjoy limited liability but are also treated as self-employed for tax purposes.
Community and charity focused entities including charitable companies limited by guarantee, Charitable Incorporated Organisations and Community Interest Companies
Each legal structure has its own advantages and disadvantages and is dependent on a variety of factors.
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There are a range of ways to protect your intellectual property in the UK, including:
Apply for patents
Register trademarks
Protect copyrights
Use properly drafted licences and confidentiality agreements
Monitor for infringement
It is recommended to seek legal advice to ensure that your intellectual property rights are fully protected and that you are taking the appropriate steps to prevent infringement.
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Legal consequences for breaches of the law can include:
Civil liabilities: this can involve being sued for damages by those affected or being required to account for unfair gains. In certain circumstances, the directors of a company may be personally liable for breaches by the company or where they have failed properly to comply with their duties as directors
Criminal charges: if illegal, this can result in charges, fines and even imprisonment
Regulatory fines: regulators, such as the Health & Safety Executive, the Environment Agency and the Financial Conduct Authority, can fine companies or instigate proceedings against them for breaches of their regulations
Reputational damage: this can lead to a loss of customers, staff and investors and less favourable terms being imposed by suppliers
Loss of licence: breaches can result in licences needed for the proper operation of the business being revoked
It is important for all businesses to comply with the law and maintain ethical business practices to avoid legal consequences and reputational damage.
What our clients say
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Austin and his team at Nash and Co were absolutely excellent. They represented our case superbly well and got an excellent outcome for us which settled a very difficult dispute in our favour. I really can’t thank Austin enough for his professionalism and patience and steadfast resolve to get it sorted for us and see justice done and the law upheld.
5* Google review
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We have been using Nash and Co for many years both personally and professionally. Austin Blackburn has drafted a number of leases for us over the years for our commercial property. His pragmatic approach, expert knowledge and responsiveness have really made the difference. Nash provide a great service at a reasonable price. We highly recommend the team at Nash.
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Fill out the form below and let us know whether you would like us to call you, or email you. One of our Commercial Property team will be in touch as soon as we can.
If your enquiry is urgent then please call us on 01752 827125.
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