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  • Notes (LineMap) Type of Business - Partnership + Companies

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    Xinyi Wong
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    This document outlines different types of business structures including sole proprietorships, partnerships, limited liability partnerships, and companies. It notes key differences in liability of members and partners, as well as private versus public classification. The main types of partnerships discussed are general partnerships and limited liability partnerships, with definitions and features of each provided.

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    Notes on types of business

    Original Title

    1. Notes (LineMap); Type of Business - Partnership + Companies

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    This document outlines different types of business structures including sole proprietorships, partnerships, limited liability partnerships, and companies. It notes key differences in liability of members and partners, as well as private versus public classification. The main types of partnerships discussed are general partnerships and limited liability partnerships, with definitions and features of each provided.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    6 views1 page

    Notes (LineMap) Type of Business - Partnership + Companies

    Uploaded by

    Xinyi Wong
    This document outlines different types of business structures including sole proprietorships, partnerships, limited liability partnerships, and companies. It notes key differences in liability of members and partners, as well as private versus public classification. The main types of partnerships discussed are general partnerships and limited liability partnerships, with definitions and features of each provided.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Type of Business

    Sole Companies
    Partnership (s10 + 11)
    Proprietor

    Liability of members
    Identity
    General Limited Liability
    Partnership Partnership
    (PLT) limited by limited by unlimited
    Private Public Public shares guarantee
    Listed (only public)

    Private Public
    Private Public (Sdn) (Sdn)
    (Sdn Bhd) (Bhd)

    Partnership

    General Partnership Limited Liability


    Partnership

    Definition Relationship Relationship Dissolution of partnership


    of partners Definition Features of
    s3 PA1961 of partners
    s3 + 6 a LLP and
    with third with each
    others
    By Govt By other LLPA 2012 how it
    parties
    s37 means differs from
    s7 + 8 +10 a. Partnership
    s26 + 27 a general
    + 11 +12 + Agreement s21
    + 28 + 34 partnership
    Types of partners 13 +14 +19 b. Fiduciary
    + 35 + 36
    +38 duties s22 +23
    +
    + 30 + 31 + 32
    *s38 +39
    Active Salaried c. General
    Insolvency
    duties s26 + 27
    Dormant/ Quasi/ Act 1967
    + Partnership
    Sleepy Apparent Agreement

    Consequences
    of dissolution

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