Legal Requirements for Setting up a Business in Australia

Setting up a business in Australia involves a range of legal and financial requirements which need to be considered. If you don't structure your business correctly, you run the risk of facing liability down the line, whether around tax, intellectual property, internal disputes or more. 

If founders are operating a business without a proper legal setup, they will likely be considered a sole trader or partnership by default. This can result in liabilities being held against them personally. If you’re operating a business without a legal setup, you also run the risk of creating uncertainty around the intellectual property being created in that business.

As well as setting up your business, you should think about what legal agreements need to be in place between the startup’s founders. A well drafted shareholders agreement can make it easier for founders to understand how to run their company, resolve disputes, and implement long term business plans. Investors will often be unwilling to invest in a company without a well drafted legal agreement between founders.

When your business goes to market, you need to think about the legal agreements to engage your customers. For digital business, this will mean terms and conditions and privacy policies.

Startup founders trust Allied Legal to provide commercial, efficient and easy to understand advice around setting up your business and going to market. We understand that startup business need cost efficient lawyers to help them setup. That’s why we’ve put together our IGNITE packages – so that you can startup the right way.