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MRL2601 ASSIGNMENT 02 SEMESTER 02 DUE 05 SEPTEMBER2023
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MRL2601 ASSIGNMENT 02 SEMESTER 02 DUE 05 SEPTEMBER2023
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, MRL2601 ASSIGNMENT 02 SEMESTER 02 DUE05SEPTEMBERQUESTION 1
Nandi and Patricia want to start a catering business together called
It-out (Pty) Ltd. Briefly explain the steps which they would need to
take in order to incorporate a company
In order to incorporate a company, Nandi and Patricia would need
to follow these steps:
1. Choose a business name: They need to decide on a suitable name
for their catering business, which should not be similar to any
existing business name and comply with any legal requirements.
2. Register the business name: They would have to register the
chosen business name with the relevant government agency or
registrar, such as the Companies and Intellectual Property
Commission (CIPC) in South Africa.
3. Decide on the company type: They need to select the type of
company structure they want to establish, such as a private
company (Pty) Ltd in this case.
4. Prepare the necessary documents: They must create and gather
the required legal documents, including the Memorandum of
Incorporation (MOI), which outlines the company's rules and
governance.
5. Appoint directors and shareholders: Nandi and Patricia would
need to decide on the number of directors and shareholders and
complete the necessary paperwork to formalize their roles in the
company.
6. Obtain necessary licenses and permits: Depending on the
catering services they plan to offer, they may need to obtain
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