Exactly Dom. A private company.
:satisfied
Incorporation is pretty simple (and cheap) – gives you legal protection that is not available as a self-employed person or sole trader – and is no more hassle.
It also “legitimizes” your business in the eyes of many and does give you access to various tax reduction methods not available to PAYE earners.
(note : this discussion is based on New Zealand tax law)
And of course (to get back to the original discussion) it makes sure that all affiliate accounts and property are clearly defined and ownership rights will pass smoothly onto the other share holders.
:satisfied