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COMPARE LIMITED COMPANIES WITH PARTNERSHIP SETTING UP A partnership is a relationship existing between two or more persons who join together to do business. To set up a business you need to make a contract also the agreement need to be a formal document, but not recommended. To set up a business such as a LTD must register with the registrar of companies (no less than 20 partners). A Memorandum of Association must be prepared which establishes the company and determines the objects of the business, which it is to conduct. Additionally, the Articles of Association, which contains the internal constraints governing the conduct if the company as between the shareholders and the board of directors of the company. Furthermore a Statutory Declaration must be signed which states the company agrees to act upon the company acts and their requirements. Once these documents have been lodged with the registrar and accepted, a...

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