[Question] Titles for owners... confused!

[Soundinmind]

Hi everyone,

Ive been running my CC as the Director for the past 8 months and today I was informed that its illegal to call myself the CC as Im the owner of the company, if I end up in count or something Ill be in big trouble or something. So Im not going to play the risk game and Ill go change everything as soon as I know what Im legally allowed to call myself.

What I do: EVERYTHING!!! I handle the accounting, dealer accounts, logistics, supplier relations and general business management, marketing. However, cause of the size of my company (Value wise) I do intend on employing people one day. I have an accountant now and someone helps with the marketing side.

So I own the business and I managed the business day prac and work, along with planning and more. I thought CEO would be more right, considering Managering Director would put me back at square one. Im also going to have partners in the future so I need to keep space open for them, they'll also be working.

Any ideas?

[Dave A]

As an owner you are a member of the cc. And being the only member, you are probably also the public officer.

Cc's don't have shareholders or directors.

The title of public officer is probably best described as the cc equivalent of the CEO or company secretary in a company situation.

It probably is wise to use the correct title (or designation) whenever you sign a document relating to the business of the cc. This way no-one gets "confused" and claims that they understood you were acting in your personal capacity or trading as a sole proprietor. If someone really wanted to grind the point, a claim that you are the/a director could also be seen as misrepresentation.

[daveob]

I know the feeling. Saying you're a 'member' makes it sound like you belong to the local tennis club.

I also feel that 'director' should be used only by directors of pty companies, as I think that's their correct designation.

Personally, I go for CEO.

Just don't use the phrase "self employed". Have learnt over the years that as soon as your bank clerk hears that, an invisible curtain appears on their side of a fresh mound of paperwork and requirements. I have firmly implanted in my brain that someone who is 'self employed' is a sole proprietor. Personally, I am employed by a company ( in this case a cc ) and receive a monthly pay slip and pay paye and uif. This makes me an employee. The fact that I own the company that employs me is totally irrelevant and unless specifically asked who owns the company I work for (never happened yet), I keep that info to myself.

edit : Agree with DaveA. On official docs, you are the 'member'

[BusFact]

What Dave said, but in my own words:

Your official title is "Member". Your are not a Director if you are in a cc. You cannot be a Managing Director.
Instead you could call yourself "Managing Member" if you wish.

You are not the CC. You work for the cc. It does not matter if you happen to do everything. From a legal perspective you and the cc are two different entities. All your letters, invoices, quotes, etc must be in the name of your cc, otherwise someone could say they are dealing with you personally and not the cc. This only really becomes an issue if there are ever arguments over debts in the future.

[wynn]

'Member' is also how you refer to a certain protruding body part, I wonder if we are all 'Pricks' for having cc's?