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Advantages and disadvantages of partnership and company business structures

Marks: 40% of the overall assessment for the course Submission: Online via Moodle Format: One file in .doc or .docx (MS Word) format. Submissions in any other file format (e.g. .zip) will be treated as a non-submission. Word limit: Word limits are set out below for each part. Extensions policy The university policy on extensions of time will be strictly enforced. Extensions will only be considered if made via the online system and must be based on medical or compassionate grounds. Any extension application should be made before the due date for submission. Medical conditions should be supported by a medical certificate, and, since students are expected to start the assignment early, temporary or last-minute conditions are usually not grounds for an extension. Professionals are expected to manage their time to meet their obligations, so work or personal commitments are insufficient grounds for an extension. Plagiarism The university’s plagiarism policy will also be strictly enforced. If plagiarism is found, a minimum penalty is likely to be zero marks for the assessment. It could be worse. Your Brief Your overall task is to

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Added on  2023-06-13

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This research evaluates the advantages and disadvantages of partnership and company business structures to determine the most appropriate option for starting a new business. The report recommends the incorporation of a company due to its benefits such as limited liability, lower tax rates, flexibility, perpetual succession, and seriousness in dealing with business affairs.

Advantages and disadvantages of partnership and company business structures

Marks: 40% of the overall assessment for the course Submission: Online via Moodle Format: One file in .doc or .docx (MS Word) format. Submissions in any other file format (e.g. .zip) will be treated as a non-submission. Word limit: Word limits are set out below for each part. Extensions policy The university policy on extensions of time will be strictly enforced. Extensions will only be considered if made via the online system and must be based on medical or compassionate grounds. Any extension application should be made before the due date for submission. Medical conditions should be supported by a medical certificate, and, since students are expected to start the assignment early, temporary or last-minute conditions are usually not grounds for an extension. Professionals are expected to manage their time to meet their obligations, so work or personal commitments are insufficient grounds for an extension. Plagiarism The university’s plagiarism policy will also be strictly enforced. If plagiarism is found, a minimum penalty is likely to be zero marks for the assessment. It could be worse. Your Brief Your overall task is to

   Added on 2023-06-13

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In the present case, the two options available to the parties for starting the new business include
the formation of a partnership and the incorporation of a company. As a result, the advantages
and disadvantages that are associated with both these business structures need to be evaluated so
that the most appropriate business structure can be recommended to the parties on the basis of
their circumstances. In order to find out the particular circumstances of clients, certain questions
were asked. On the basis of the answers provided by the clients as well as the perusal of the
relevant law related with the business structures of partnership and a company, a report was
made for the supervising partner regarding this research. At the same time, a report was also
made to supervising partner regarding the arguments that can be given in favor of the
recommendations made to the clients.
The present research reveals that there are certain advantages associated with the business
structure of the company. For example, the law considers that after its incorporation, a separate
legal identity is created. In this way a company enjoys own separate identity. As a result of this
legal fiction, a right has been provided to the company to join legal proceedings in its own name.
A comparison of the business structures of a corporation and partnership reveals that there are
certain benefits that are available in case of a company but they are not available to a partner.
One such major advantage is present in the form of the limited liability of the owners of the
business. The reason is that the law treats the company as a separate person. Hence, it is
considered as being separate from the owners or the controllers of the company. Due to this legal
fiction, a company is allowed to enter contracts in its own name. Similarily a company is also
allowed to own property in its own name. The result is that the rights and liabilities of a company
are treated as its own and cannot be attributed to the owners (shareholders) or the directors
Advantages and disadvantages of partnership and company business structures_1

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