Partnership

... Partnership Compulearn is a partnership. It is owned and set up by Mr Aman Chandhok and Mr Manoj Bhandari which means the both of them have unlimited Liability, i.e. Loss of their personal assets in case the business becomes insolvent. In this section, I will be discussing then advantages and disadvantages of being in a partnership. Advantages * Easy to set up - partnerships are easy to set up. Two or more people can start in business as partners with few legal documents. Many partnerships draw up a deed of partnership. * Easy to run - partnerships are easy to operate. Accountants and solicitors don't have to be employed. In practice partnerships may use an accountant to keep their books for tax purposes. A solicitor may also be needed to draw up a deed of partnership. This is not true of limited liability partnerships. these partnerships may be complex to run as a company. For

want to read more? →