The financial implications of going in to business are complicated. Independence is tempting, partnership has its pitfalls and private limited companies are as exposed to business misfortune as the sole trader. The structure of your business is a legal framework - it determines your share of profits and losses and your responsibilities to associates and investors. Whether you are setting up as a sole trader, a partnership or a limited company, it is essential to ensure that you are operating within the law. This 13th edition of Essential Law for Your Business covers all the key issues which affect your legal standing, such as taxation, intellectual property, debt collection, bankruptcy, employment law, insurance, takeovers and mergers. It fully complies with current UK company law and includes new sections on first business contracts, fraud, business premises renovation allowance and the Outside Investment Small Firms Guarantee Scheme (SFGS). Written by a practising solicitor, who also lectures on business law, Essential Law for Your Business will reassure every business person who needs to know where they stand should a legal situation arise.