The purpose of this assignment is to test the learner’s knowledge and application of the different business models available to persons setting up a business in the Irish jurisdiction.
In particular, the learner will be required to demonstrate a clear understanding of the legal rules applicable to and the advantages/disadvantages of LTD companies in Ireland and to advise on the importance of the role played by directors. The learner will be required to complete a written assignment (in the form of a briefing document).
You are required to write a paper on the following:
You have been approached by a friend who has asked you for advice in relation to his/her business venture. Your friend has no previous experience of company law and is setting up a private company limited by shares (LTD).
He/she will be a director of this new company and is unaware of the legal rules applicable to LTD companies and his/her responsibilities as a director.
You have been asked to prepare a written briefing document advising your friend on the legal rules applicable to a company.
In your briefing document, you should outline the legal rules applicable to LTD companies and his/her responsibilities as a director, making reference to the relevant legislation and/or case law, where appropriate.