20-09-2017, 11:45 AM
Success comes when joint investment gathers in the market. So when two or more people agreed to start a business under private limited company their liabilities are limited on their part. The act of private limited liability company has detail process and regulation to establish this business.
Terms to consider for setting up a limited liability company: The limited liability company apart from the sole business is the popular form of business structure in the UK. In this limited partnership the liability of members is limited, which means that the capital of the company is independent of the personal assets of the owner of the company. But for sole traders, all of their assets are responsible for the business (Jasper, 2001). Thus we can define the limited liability company as a business formed by one or more of an individual whose liability is limited on their part.
Terms to consider for setting up a limited liability company: The limited liability company apart from the sole business is the popular form of business structure in the UK. In this limited partnership the liability of members is limited, which means that the capital of the company is independent of the personal assets of the owner of the company. But for sole traders, all of their assets are responsible for the business (Jasper, 2001). Thus we can define the limited liability company as a business formed by one or more of an individual whose liability is limited on their part.