The assignment will explain different aspects of company and what are the legal requirements associated with the company. Before moving forward the most important aspect is about the discussion of company and its functions. Company can be developed as legal entity or for the purpose of independent existence. Company is not linked with the lives, deaths, terminations or turnover rate of the employees. The company is independent and is never stopped with the death of a member or the owner and this concept allows limited liability for the share holders. This concept is present because the debt of the company is present to the legal entity and not to the shareholders of the company and this will be discussed in the cases. Different cases of past will be discussed in the assignment. The main topic of the assignment revolves around the case of Henry and Mark that are deciding to open up a new company called Farming solutions. This company will be facing many legal issues that can be resolved with the usage of background information and other legal cases. Recommendations are provide at the end of the assignment for Henry and Mark that will guide the father and son in taking the right decisions according to the legal requirements. These solutions have been developed on a tentative basis and nothing is permanent.