Overview of company structures
What types of partnerships are available, should I start a partnership?
Let’s dive into the 3 common types of partnerships:
- Partnership
- Limited Partnership (LP) and
- Limited Liability Partnership (LLP)
In deciding the type of partnership to set up, consider the following factors:
- What liabilities and responsibilities are you prepared to assume?
- What is the tax implications?
- Is the business entity easy to close?
- What are the advantages and disadvantages of the different business entities?