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Partnerships - The Advantages and Disadvantages

It is hard to say how many partnerships there are these days.

  • 6 March 2010
  • Author: Geoff Hardy
  • Number of views: 3343
  • 0 Comments
Partnerships - The Advantages and Disadvantages

Most people prefer to have limited liability companies, but there are some exceptions. Partnerships are still reasonably common in the professions (law, medicine, architecture, accountancy, engineering, dentistry, etc.) - although many of them are abandoning partnerships in favour of companies as well. 

When do you need a Shareholders Agreement?

The rules that apply to companies are found in the Companies Act 1993, supplemented by the case law which fills the gaps where the Companies Act doesn’t cover a particular situation.

  • 2 December 2009
  • Author: Geoff Hardy
  • Number of views: 1985
  • 0 Comments
The Companies Act also allows companies to modify some of the rules to suit their special needs, by adopting an additional set of rules known as the constitution.

The Duty of Loyalty between Joint Venturers

A joint venture is a one-off or temporary partnership that is formed to exploit a particular opportunity (such as a mining licence) or to carry on a specific business (such as the promotion of an annual trade fair or the publication of a monthly magazine).

  • 5 November 2009
  • Author: Geoff Hardy
  • Number of views: 2064
  • 0 Comments
Often the participants have their own separate businesses outside of the joint venture, and they may in fact be competitors of each other. Usually they form the joint venture because the project is too big for just one of them alone, or they have unique skills or assets that complement each other and are needed to make the venture successful.

Play Fair with your Joint Venture Partners

A joint venture is like a partnership, except that it is generally formed for a single purpose or a temporary period only.

  • 2 November 2009
  • Author: Geoff Hardy
  • Number of views: 2007
  • 0 Comments
Play Fair with your Joint Venture Partners
A joint venture is like a partnership, except that it is generally formed for a single purpose or a temporary period only. They are very common in the mining and oil exploration industries. However they also occur in everyday businesses such as the promotion of an annual trade fair, the publication of a monthly magazine, or the distribution of goods in overseas markets.

Joint Venture Company Constitutions

Joint ventures can be incorporated or unincorporated.

  • 4 August 2009
  • Author: Geoff Hardy
  • Number of views: 2851
  • 0 Comments
Joint Venture Company Constitutions

Incorporated joint ventures are those where the joint venture parties choose to conduct their joint activities through a company, and/or have the joint venture assets owned by a company. Unincorporated joint ventures are those where the parties don’t form a special company, and simply carry out the joint venture themselves, much like a partnership.

What is a Joint Venture?

Everyone knows what a company, partnership or a sole proprietorship is.

  • 14 December 2002
  • Author: Geoff Hardy
  • Number of views: 2702
  • 0 Comments

They are well recognised structures for doing business, and in the case of companies and partnerships, each has its own Act of Parliament that spells out the rules. Even less common structures like incorporated societies and unit trusts have their own Act. By contrast, joint ventures do not have their own Act and in fact the law gives very little recognition to them. So what are they, and what are their advantages and disadvantages?

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