Legal Forms of Doing a Business in South Australia

Question

Legal Forms of Doing Business

You have decided to open a hamburger restaurant in South Australia. The location of your restaurant can be decided by you but it must be in South Australia.  You can also decide on your own name for your hamburger restaurant but you need first to describe briefly the appropriate steps to get that name registered.

You need to analyse the best form of business ‘set up’ for your hamburger restaurant.  You have decided against a franchise in favour of your own special and unique brand. Please analyse the options: sole trader, partnership or proprietary limited company by looking at the appropriate legislation (if any) and analysing the advantages and disadvantages of the business model you decide upon.  

You also need to consider that your best friend Adam wants to join you in this business venture by investing half of the capital required to set up the burger restaurant. You need his money. Consider the options. With what form of business strategy or model can you best accommodate his generous offer?

Summary

This question belongs to business law and discusses about legal forms of setting up a business and form of business strategy or model.

Total word count: 627