By Alexis Mavrikakis; College of Law (England and Wales); et al
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Additional info for Business law and practice. [2011/2012]
This fee is 8 Business Law and Practice currently £40 if the documents are submitted in paper form, or £18 if they are submitted via the internet or £14 using Companies House software. Companies House aims to process paper applications within five days and electronic ones within 24 hours. Alternatively, it is possible to pay £100 (£30 electronic) for a same-day registration service. The registration process is usually done electronically. Once the company is successfully registered, the Registrar will issue a certificate of incorporation.
7 Such agreements are sometimes called joint ventures. You can find out more about joint ventures at Appendix 3. In addition to the lack of formality of running the business in this way, there is the further advantage that the terms of the agreement can be kept confidential. 4 above). The law governing this arrangement flows from the co-operation agreement itself, as well as from the common law. 7 Company A company is often what we think of when we imagine a business. A company in the UK is formed by registering certain documents with a public official, the Registrar of Companies, in accordance with the requirements of the Companies Act 2006 (CA 2006).
The company is recognised by the law as a person – a special type of person known as a ‘legal person’, but nonetheless one which has its own rights and obligations. This concept will be examined in further detail in Chapter 2. Although a legal person in its own right, a company still, of course, needs humans to take decisions on its behalf and to interact with the outside world. The decisions affecting the company’s business or the company itself are made either by the company’s directors or by its shareholders, or sometimes by both jointly.