Legally Yours, together with the Silicon Beach Group, presented a virtual legal lunch and learn session with Clint Fillipou from Anisimoff Legal on ‘Structuring My Business – Company Directors, Shareholders and the Corporations Act’ on Monday 1st June 2020.
In the session, Clint Fillipou, Principal and Managing Director of Anisimoff Legal, talks through the following –
- the main challenges and opportunities of incorporating a company; the benefits and limits of the corporate veil,
- the exposure that company directors can face if things go sour
- how funding rounds are generally managed when it comes to rights issues (shares/equity), preference shares, dilution and other such practical matters that can impact Founders through A, B and C funding rounds; and
- how to position your business for late-stage and other funding without giving up the ‘farm’.
Key Takeaways from the session are –
- a basic understanding of the Corporations Act
- an understanding of why businesses should incorporate and what’s involved in setting up a company, appointing officeholders and members
- what is contained within a Company Constitution, the Replaceable Rules and Shareholders Agreements
- how Directors are appointed and the their obligations and duties
- understand the rights of members (shareholders) and the different share types that can be issued
- learn about equity, how to bring on investors,
- and key issues to look out for in funding rounds
Need Legal Advice?
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This article does not constitute legal advice or a legal opinion on any matter discussed and, accordingly, it should not be relied upon. It should not be regarded as a comprehensive statement of the law and practice in this area. If you require any advice or information, please speak to a practising lawyer in your jurisdiction. No individual who is a member, partner, shareholder or consultant of, in or to any constituent part of Legally Yours Pty Ltd accepts or assumes responsibility, or has any liability, to any person in respect of this article.
