- Advantages and disadvantages of sole traders, partnerships, limited liability partnerships (LLPs), private limited companies:
- Sole traders: Liability for debts.
- Partnerships: formation; default provisions under Partnership Act 1890 (powers of partners to bind the firm, liability for debts and wrong doing, holding out, liabilities of incoming and outgoing partners, partnership property, financial entitlements, management, matters requiring unanimity, duties, termination); taxation implications.
- LLPs: formation under Limited Liability Partnerships Act 2000; legal personality; rights and duties of members and designated members; liability for debts; taxation implications; termination; obligation to make certain documents publically available
Formation; constitution; legal personality; liability for debts; role and duties of directors; role of shareholders; taxation implications; obligation to make certain documents publically available