Question: Ying and Zena have been friends for many years. Both are ‘into fitness' and have been helping friends and family members with their fitness for some time, firmly believing that everyone needs to take part in some form of exercise to live a healthy life. Now they have decided that this is something they could do as a business. They want to hold classes on topics like nutrition, exercise and general health and conduct yoga classes. Ying found a building located near the side of a park which they think they could lease to conduct these classes and use the park for outdoor exercises. They have discussed this with the building owner and it seems they could get a three year lease on it. They understand they will need some equipment but expect this to be at a minimum to begin with. Page 2 of 3 Friends have told them their business should be in the form of a company and they think this would be a good idea. Since they want the name of their business to reflect what they do, they want to call their company ANY AIM FITNESS. They have come to you for advice on starting this company. Explain to Ying and Zena what needs to be done for their company to be formed and advise them of any major issues which they should be aware of this question relative corporation law.