Read on to learn more about the different company structures in the UK and to understand the pros and cons of being a sole trader, forming a business partnership, or setting up a limited company.
To reduce the potential for complexities or conflicts among partners within this type of business structure, the creation of a partnership agreement is a necessity. A partnership agreement is a ...
Therefore, each partner is personally liable for the debts and obligations of the business. Each partner is also liable for decisions made by other partners. Partnerships might take different forms, ...
In Canada, two or more people can start a business as a general partnership. It is one of the three most common ways to structure a company, the other two being sole proprietorship and incorporation.
If a partnership is the preferred type of business, all partners must be aware of what’s at stake and know exactly what they are getting into from the beginning. Limited Liability Partnership is a ...