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Types of busines (limited companies (2 types (private company, public…
Types of busines
limited companies
written agreement
seperate legal identity
registration on the Register of Companies
tangible assets are possible
liable to its creditors
2 types
private company
public company
self-employed / sole trader
no need to register
unlimited amount of capital to take out of the business
unlimited liability for debts
manage the business on your own
Partnerships
Limited liability partnership
limited liability
partners are calles members
financial information must be published
General partnership
partnership agreement is recommended
no seperate legal identity
personal liability
private partnership agreement and financial information