Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. Corporation Law Q- You have discovered a low-cost way in which people can brew espresso coffee drinks on their stoves at home, without the

2. Corporation Law

Q-You have discovered a low-cost way in which people can brew espresso coffee drinks on their stoves at home, without the need for expensive coffee-making machines.

You want to form a company as a vehicle to market your discovery and your company to consist only of your family members.

You want the words 'Anzac coffee' to be part of the company's name, to identify it as having a truly Australian flavor.

You envisage that, by the end of its first financial year, your company will have gross asset of at least $5 million, employ 20 people full-time and have gross revenue of $10 million.

Your five-year plan shows that, by the end of that period, your company's assets will have increased to $13 million and have estimated revenue of $26 million. By that time, however, the company will only need to employ five people full-time, with another 66 employed for half the time of a full time equivalent.

Explain what type of company you would apply to register with ASIC, how that company would be categorized at the end of its first financial year, and whether it would remain in that same category in five years' time.

Also, could the company name include'Anzac Coffee'?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Law Of Tort

Authors: John Cooke

14th Edition

1292251360, 978-1292251363

More Books

Students also viewed these Law questions

Question

8. What are the costs of collecting the information?

Answered: 1 week ago

Question

1. Build trust and share information with others.

Answered: 1 week ago