Title: Legal aspects to consider when setting up an ebay business
|Date:||November 17, 2012|
|Length:||5 / 1452|
|No of views:||0|
|Essay rating:||good 0, average 0, bad 0 (total score: 0)|
The main advantage that applies to ILM Trading is that a partnership ensures that there is greater scope for raising finance. Another advantage that arises out of a partnership as regards finance is that if the business was to become insolvent then the partners would become jointly liable for any debts incurred...
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Debts would not fall on just one individual, as they would in the case of a sole trader. When setting up a partnership there is no onus to publish the results of the organisation in contrast to companies which are required by law to publish their results.
In order for a partnership to take place in the eyes of the law, a document known as the partnership agreement must be drafted...
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