Introduction
In this section we will look at the various types of legal structures which a start-up business can utilise:
- Sole Trader
- Partnerships
- Private Limited Liability Companies
- Public Limited Companies
With each legal structure, there are different levels of liability and legal issues involved.
Each business will determine for itself which is the most appropriate structure for themselves based on various pros and cons of each type of structure.
Each legal structure has it's strengths and also it's drawbacks. The various issues involved are discussed in the unit and the most appropriate solutions are provided.
Whatever the structure, the business should be aware of the surrounding legal issues and be well informed about how to run businesses optimally with such legal structures.
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