1.Walter White owns a lucrative business, Heisenberg Luxuries, which specialises in herbal remedies and e-cigarettes. Walter is currently a sole trader based in London, but sees the opportunity to expand the business, due to the increasing popularity of his goods. Walter is keen to take on his bright young apprentice, Jesse Pinkman and Jesse's friend Jane, who graduated top of class in Chemistry, to join him in the venture. The proposed expansion includes moving the business to bigger premises, where they will be able to demonstrate the capabilities of the expanding range of accessories. Walter is independently wealthy and happy to provide the necessary financial backing for the new venture. If Walter & Co. were looking to set up the business as a private limited company, what actions would they need to consider and execute in order to become incorporated? 2. Walter, Jesse and Jane have decided to proceed with their business venture by setting up a private limited company. Walter is to be the dominant shareholder in the new company, with 88% of the shares. The remaining 12% of the shares are to be distributed equally between Jesse and Jane. Given the shareholding of the three members, what do they need to be aware of regarding the constitution of the company and any future changes to it? 3. Walter died suddenly whilst conducting an experiment. Jesse subsequently discovered that he was joint heir to Walter's share of the business, with Walter's colleague, Hank, being the other beneficiary. This means that Jesse now holds 50% of the shares, Hank 44% and Jane 6%. The business remains strong and very profitable. Hank was initially reluctant to be involved in the running of the company, but finds he enjoys being a substantial shareholder, such as having a nice company car and recognition of his position. Hank does not get involved with the day to day workings of the company. In fact, on the rare occasions that he does turn up to attend company meetings, he usually follows the advice of his friend Dwight Schrute, who has no apparent interest in the company. With regards to company directorship, what does Hank need to be aware of