William and Oliver have been working together as managers at British Imperial Textile Fusion Products Limited. They are best friends, and during one of their walks with their dogs, they have decided to leave their employment and start their own company, which will manufacture clothes for all ages. They would like to specialize in manufacturing winter clothing. They have thought of some names for their company and have considered the various issues surrounding the formation of a company. However, they feel they require expert assistance at this stage. Oliver remembered that you attended business law, and you loved it. Therefore, taking into consideration what you have learned: 

a) Explain to William and Oliver what steps they need to take to successfully incorporate their company and the rules concerning company names. 

b) Oliver has become fascinated with company law. He has developed a deep interest in this area. However, he is confused when their friend John tells them their company will have a legal personality. 

Explain to William and Oliver what separate legal personality means for a company and how the courts interpreted this using relevant case law.