Partnerships - PowerPoint PPT Presentation

Partnerships l.jpg
Download
1 / 6

Partnerships. What is a partnership?. A business agreement between 2-20 people , but could have more staff They have unlimited liability Examples:- Vets Doctors Solicitors. How to set up a Partnership?. A Deed Of Partnership needs to be completed. This shows:- The money put in

I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.

Download Presentation

Partnerships

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


Partnerships l.jpg

Partnerships


What is a partnership l.jpg

What is a partnership?

  • A business agreement between 2-20people, but could have more staff

  • They have unlimited liability

  • Examples:-

    • Vets

    • Doctors

    • Solicitors


How to set up a partnership l.jpg

How to set up a Partnership?

  • A Deed Of Partnership needs to be completed. This shows:-

    • The money put in

    • Roles and responsibilities

    • How the agreement can be ended

      Anything not covered in this agreement is covered by the Partnership Act 1890


Sleeping partners l.jpg

Sleeping Partners

  • These are people who have invested money into the company but have no active part in running the business

  • They have limited liability


Advantages of partnerships l.jpg

Advantages of Partnerships

  • Spreads the risk more than being a sole trader

  • New skills can be brought to the business

  • More money and resources are brought to the business

  • Accounts are kept private


Disadvantages of partnerships l.jpg

Disadvantages of Partnerships

  • Unlimited liability

  • Sharing the profits

  • Less control of the business

  • Disputes over workload

  • Partnership has to be reformed if a partner dies


  • Login