An incorporated company is a distinct legal entity, regulated by the Australian Securities & Investments Commission (ASIC).
A company is a complex business structure, with higher set-up and administrative costs because of additional reporting requirements.
A company's operations are controlled by its directors and the company is owned by its shareholders. A company provides some asset protection but directors can be legally liable for their actions and, in some cases, the debts of a company.
Knowing the main features of a company business structure may help you decide if this structure is best for your business.