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ID number:151350
 
Evaluation:
Published: 06.02.2008.
Language: English
Level: College/University
Literature: n/a
References: Not used
Extract

There are some different kinds of business structures, but if you want to run a business with you friend the most suitable for you would be creating a partnership.
There are 2 kinds of a partnership-
Simple partnership
LLP* partnership.

In my opinion, you should create LLP partnership. In this partnership partners have limited liability. The LLP is a corporate body with a separate identity from the partners. It means that your personal assets are protected in chance of bankrupt.…

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