Elements and Performance Criteria
- Determine legal structure of the business.
- Examine legal options for the most suitable type of business structure.
- Investigate legal rights and responsibilities of the business to ensure business is adequately protected under legal and legislative provisions.
- Confer with relevant business partners, business principles, franchisors and funders to inform final decision regarding business structure.
- Seek legal and accounting expertise as required to inform final decision regarding business structure.
- Compile and prepare documentation for lodgement to register the business entity with appropriate corporate regulator according to business owner’s wishes.
- Monitor compliance with statutory and regulatory requirements.
- Confirm statutory and regulatory requirements affecting the operations of the business and take appropriate steps to ensure full compliance.
- Determine insurance requirements and acquire adequate cover to ensure risk minimisation.
- Monitor the establishment and performance of contracts to ensure compliance and the fulfilment of rights and obligations.
- Maintain and update legal documents and relevant records according to security and access requirements.
- Secure rights to products and services.
- Secure information on purchase rights to products and services and ensure full understanding of their implications.
- Establish cost of procurement rights to products and services, including ongoing financial planning.
- Confirm rights and responsibilities applying to the use of products and services from the wholesaler to ensure accurate information is communicated to customers.
- Determine brand ownership and protection rights.
- Secure contractual procurement rights to provide optimal conditions for procurement of products and services.