By Johnathan Rees
- highbrow estate Rights
- elevating finance
- facing buyers and suppliers
- E-commerce and social media
- development a staff
- promoting your business
Do Protect is key studying for an individual beginning their very own company. Get the legalities correct, then specialise in the joys stuff. construct your enterprise on a robust foundation.
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Additional info for Do Protect: Legal advice for startups
The upside of this structure is that Eric can start trading immediately, without any expense or formality, no on-going bureaucracy. And his financial affairs will remain private. He will own any assets he acquires for his business and he will be solely responsible for running the company, accountable to no one other than himself. Further good news – from a tax perspective, as a sole trader Eric will be liable to income tax on the profits of his business so avoiding the ‘double’ taxation of a company structure.
Admin An LLP is subject to similar accounting and filing obligations as those applicable to a company: for example, it must file (again with the Registrar of Companies) its annual financial statements and an annual return of its members. Similarly, it must maintain registers such as a record of its members. An LLP is required to have a ‘Designated Member’ who has responsibility for ensuring that appropriate returns are filed and so on. Tax Unlike a company, an LLP does not itself pay tax. Instead the taxman looks through the LLP and taxes the members accordingly.
The IPO currently charges £200 for a UK trademark application, plus £50 for any additional classes in which you wish to register your mark. Remember that registering your trademark in the UK won’t give you protection elsewhere. If your business is international you can protect your trademark overseas in one of three ways: - Nationally in an individual country by application to the relevant registry in that country. - Throughout Europe by way of a European trademark (a community trademark or CTM) via the Office for Harmonisation in the Internal Market (OHIM) based in Spain, or alternatively via the relevant national trademark office.