Q&A
What is a legal structure?

Answer:

There are 4 different legal structures when starting a business; sole trader, partnership, company and trust.

Choosing the right one is very important, failing to do so can impact your finances substantially. The right structure can help you limit you own personal liability for any debts the business might incur. If you choose the wrong structure however, you are at risk of losing personal assets such as property and paying more tax than is necessary.

Answered by Lachlan McKnight

Lachlan is the CEO of LegalVision, an innovative and tech-driven law firm. LegalVision is disrupting Australia and New Zealand's legal industry and transforming the way in which businesses access legal services. He previously worked as a corporate lawyer and investment banker in London, Paris, Amsterdam and Hong Kong. Lachlan specialises in banking and finance, capital raising and startups.

Get in Touch

Fill out the form below and a LegalVision team member will be in touch shortly!

YOU'RE IN GOOD COMPANY

Mark Eggers

LegalVision have been amazing for our business as we've continued to grow. Fast turnaround, easy to work with and a smart, pleasant team.

Phoebe Breckell

LegalVision have helped me a few times now with website policies and trademarking. Highly recommended for small business owners!

Virginia Morrison

We have deeply appreciated LegalVision’s seamless integration with our internal processes and driving spirit toward continual improvement.

Tom Griffin, Head of Legal

We have repeatedly been impressed by LegalVision. We are always confident in the quality, speed and value of the work LegalVision does for us.

Amber Turnbull, COO

LegalVision's lawyers maintain a consistently high quality of service and their fixed-fee approach is a breath of fresh air.

Tom Walenkamp, CEO

LegalVision has beaten our expectations every time! They definitely know their stuff!

All of your business' legal needs – sorted.

Our award-winning membership includes unlimited document drafting and reviews, trade mark applications and legal advice consultations from experienced lawyers.

Join thousands of other businesses that no longer need to worry about their legal bills, and can instead focus on growing their business.

Traditional Law Firm

Consultation with a lawyer

Can be $600 or more for a one hour conversation

LegalVision Membership

Unlimited business legal services

From $165/week
+ GST#

Ask us about LVConnect when you speak to our team.

#All project and membership pricing excludes GST.
Terms and conditions apply.

Our Awards

  • 2020 Innovation Award 2020 Excellence in Technology & Innovation Finalist – Australasian Law Awards
  • 2020 Employer of Choice Award 2020 Employer of Choice Winner – Australasian Lawyer
  • 2020 Financial Times Award 2021 Fastest Growing Law Firm - Financial Times APAC 500
  • 2020 AFR Fast 100 List - Australian Financial Review
  • 2021 Law Firm of the Year Award 2021 Law Firm of the Year - Australasian Law Awards
  • 2022 Law Firm of the Year Winner 2022 Law Firm of the Year - Australasian Law Awards