Mark are interested in developing their own security alarm

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Reference no: EM133857316

QUESTION

Company law Liam and Mark are interested in developing their own security alarm company. The pair have little knowledge about which corporate vehicle would fit their needs best, but their friends have been giving them conflicting opinions. One friend has suggested that they form a partnership, whilst another has suggested that they form a limited company. They believe that a limited company may be best for them because of the potential for increased sales in their local region. However, before they make the decision, they want to know more about the concept of a limited company and have asked you for advice. They want to know, in particular: a. To what extent their liability for the company's debts will be limited b. Whether they will be able to exercise the same control over the membership as with a partnership c. The extent to which they will have the same right to be involved in the management of the company d. The public disclosure to which the business would be subject as a limited company Requirement: Having discussed these aspects, advise them of what choice they should make between the two alternatives, or of any other options available to them [Total marks Section C: 33]

Reference no: EM133857316

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