A commercial solicitor can advise you on the full range of issues relating to the formation of your company. A competent commercial solicitor will generally precede this advice with an examination of whether a company structure is indeed the most appropriate business structure for your business. It may be that a limited liability partnership or other business structure may be more suitable in the circumstances.
Once it is decided to go ahead with a company structure, your commercial solicitor will advise you on the steps involved in formation. Basically, the company will need to be registered with Companies House. Only after it is registered will it become a legal entity with a separate identity from those who own or operate it.
Your commercial solicitor will complete and send to Companies House the following completed documents:
- Application to register a company
- Memorandum of Association
- Articles of Association
- The current fee
The Application to register a company contains a range of administrative information about the company. Whilst many of these details are straightforward, such as the Registered Office address and the details of the company secretary and director(s), you will also need to record the details of the subscribers and share capital. Your commercial solicitor should also advise you on the roles of each of the company officers and the implications of electing persons to those posts.
The Memorandum of Association is slightly more complex, containing information on the subscribers, their shareholding commitments, and their signatures.
The Articles of Association need not be submitted if the company intends to adopt the standard Articles. Your commercial solicitor can advise you on this issue. If you do not elect to adopt the standard Articles, your commercial lawyer will draw up the company’s Articles. These will set out the details of the management of the company, how it will be run, its operations and powers (if elected to be set out), and its liability. Whilst there are model articles provided by Companies House, your commercial solicitor may advise you on particular articles suitable for your business.
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