If you are owed money for goods or services, the first step in attempting to recover the debt owed is generally to send a letter of demand to the other party setting out the amount of money outstanding and giving them a defined period of time within which to settle the matter by paying you the money owed or face legal action.

Business owners have a legal obligation to ensure that their business structure complies with the law whilst ensuring their assets, both personal and commercial are protected in the best way possible. Here are some of the key legal obligations related to asset protection and business structure in Victoria.