partnership
- Created by: abdul waheed shaikh
- Created on: 10-03-13 13:15
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- Partnership
- Disadvantages
- unlimited liability for all the partners
- profits are shared
- no continuity of the business, business must reform
- all partners are bound by the decisions of any one
- not possible to raise capital enough
- sole trader would lose in-dependency of decision making
- Advantages
- partners may be specialize in different tasks
- decision making shared
- additional capital injected by the business
- businesses losses are shared between partners
- greater privacy and fewer formalities than companies
- Disadvantages
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