<aside> ❗ Disclaimer: This is not official legal advice, please book a legal clinic if you require legal advice. We do recommend you speak to a business advisor before booking a legal clinic.
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A business owned and operated by one person, who is personally responsible for the business's debts.
A company structure where the owners' liability for debts is limited to the amount they invested in the business.
A business arrangement where two or more individuals share ownership, profits, and liabilities.
An individual or entity that owns shares in a company, giving them a stake in the business and a say in its decisions.
A document that outlines the rules for the governance of a company, including the responsibilities of directors and the rights of shareholders.
A document that states the intention of the company's founders to create the company and the agreement to take on shares.
Individuals appointed to manage a company's operations, making strategic and operational decisions.
The official address of a company where legal documents can be sent and where the company is officially registered.
A tax on goods and services that businesses collect on behalf of the government, applicable if annual turnover exceeds a certain threshold.
Legal rights that protect creations of the mind, such as inventions, literary and artistic works, symbols, names, and images.
A formal agreement between an employer and employee outlining terms of employment, including duties, rights, and obligations.
Regulations, such as the GDPR, that govern how businesses collect, store, and use personal data.
Have a look at the UK government website for guidance.
SeedLegals is an online platform that simplifies legal and administrative tasks for startups and investors, streamlining legal document creation and management to aid in growth and funding.
<aside> 📣 University of Edinburgh SeedLegals Referral Programme
Startups and spinouts receive a £100 discount on their first purchase when they input University of Edinburgh under 'Referred by' using this link.
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The Start to Scale Hub by Shepherd and Wedderburn is a self-service legal platform designed to support start-up and scale-up businesses. Accessible to universities, incubators, accelerators, and select companies, the Hub offers easy-to-use legal resources. It helps create essential legal agreements such as employment contracts, consultancy agreements, non-disclosure agreements, and more. Additionally, the platform provides comprehensive guides on key topics like securing seed investment, protecting intellectual property, and making first hires, all aimed at empowering high-growth businesses in their early stages.
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Important: Tier 4 Student visa holders are not allowed to start a business, undertake business-related activity or be self-employed.
Please read the terms and conditions of your visa carefully. You can find further guidance on our Visa page and student immigration services website.
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There are a few other things you will need to do when setting up your business. Some of the other key steps include:
The UK government provides a detailed checklist of the full actions you will need to take when incorporating: https://www.gov.uk/set-up-limited-company
This article also provides a good overview: https://www.1stformations.co.uk/blog/company-formation-what-you-need-to-know/
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