https://graph.org/Starting-A-U....k-Business---The-Rig
There are disadvantages, since the aforementioned unlimited legal liability. There is also the fact how the company have a limited life - when you pass away, so does the venture. (Ask Disney break free . is important). It furthermore more harder to get financing from banks and therefore difficult to grow. A part owner of the LLP is called a "member". Members of a LLP will have limited liability just like shareholders in the company. Single liability they've got for debts and obligations of the LL
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