Topic 10 SP Part Trusts STUDENT POWERPOINT SLIDES sem1 2015
Business organisations
CRICOS Provider Code 00301
What to do this week
• Attend a seminar and/or listen to the iLecture recording; • Read chapter 10 (pages 291 to 323 and page 331 only) and chapter 11 (pages 337 to 341) of
Understanding Business Law; and
• Do the E-tutorial ‘Choosing a Business Form - Noncorporate Business Arrangements’.
CRICOS Provider Code 00301J
Learning outcomes
After completing this topic you should be able to:
• distinguish the various business organisations that are found in Australia;
• understand the legal consequences of operating different kinds of business organisations; • understand the terminology used in relation to different business organisations; and
• explain how different business organisations are created and operated.
Types of business organisations
• In Australia, a business owner has a choice as to how they structure and run their business.
• A range of factors must be considered when determining what type of organisation or structure is most suitable for a particular business.
• As a general rule, simpler structures are suitable for smaller businesses and larger enterprises require more complex structures.
• Each business structure places different degrees of liability on the business owners and operators.
Important to understand in order to select the best legal structure for a particular business.
Types of business organisations
• The most frequently used business organisation structures are:
- Sole proprietorships
- Trusts
- Partnerships
- Companies
• Joint ventures are also quite common (e.g. in the resources sector) but they won’t be covered here.
Choosing a Business Structure
Things to consider can include:
– size of the business
– risk
– purpose of the enterprise
– requirements of capital (or risk)
– privacy of the enterprise
– whether the business is likely to last for a long time or even forever
Choosing a Business Structure
Things to consider can include:
– costs of establishing and running a
CRICOS Provider Code 00301
What to do this week
• Attend a seminar and/or listen to the iLecture recording; • Read chapter 10 (pages 291 to 323 and page 331 only) and chapter 11 (pages 337 to 341) of
Understanding Business Law; and
• Do the E-tutorial ‘Choosing a Business Form - Noncorporate Business Arrangements’.
CRICOS Provider Code 00301J
Learning outcomes
After completing this topic you should be able to:
• distinguish the various business organisations that are found in Australia;
• understand the legal consequences of operating different kinds of business organisations; • understand the terminology used in relation to different business organisations; and
• explain how different business organisations are created and operated.
Types of business organisations
• In Australia, a business owner has a choice as to how they structure and run their business.
• A range of factors must be considered when determining what type of organisation or structure is most suitable for a particular business.
• As a general rule, simpler structures are suitable for smaller businesses and larger enterprises require more complex structures.
• Each business structure places different degrees of liability on the business owners and operators.
Important to understand in order to select the best legal structure for a particular business.
Types of business organisations
• The most frequently used business organisation structures are:
- Sole proprietorships
- Trusts
- Partnerships
- Companies
• Joint ventures are also quite common (e.g. in the resources sector) but they won’t be covered here.
Choosing a Business Structure
Things to consider can include:
– size of the business
– risk
– purpose of the enterprise
– requirements of capital (or risk)
– privacy of the enterprise
– whether the business is likely to last for a long time or even forever
Choosing a Business Structure
Things to consider can include:
– costs of establishing and running a