Limited liability company
1. Do I really need a limited liability company?
The majority of businesses are not a limited liability company. The reasons
for having a company are varied, for example, it could involve ownership
of property, obtaining investment funds, taxation or contractual relationships.
Many businesses function satisfactorily as sole traders or partnerships.
The key point to recognise is that a limited liability company is a separate
entity. This means that it is a legal person in its own right. It is separate
from those who own or run it, and has 'limited liability'.
2. What does limited liability mean?
Limited liability gives the owners of the company (its shareholders)
protection if the company fails.
This means that if a limited liability company is put into liquidation,
the people who own the company will only be required to pay what they have
already paid or agreed to pay towards settling its debts.
3. How do I set up a limited liability company? If you
decide, maybe after taking professional advice, that a limited liability
company is the best thing for your business, you can buy a ready-made company
from a company incorporation agent. Alternatively, you can incorporate a
company yourself.
4. What can I do with an unwanted limited liability company?
If you decide that you do not need a limited liability company that
you have set up, you should consider putting it into voluntary liquidation.
If the company cannot afford this, you may be able to apply for it to be
struck off the register.
Limited Liability Company is also known under
limited_company
company_formation
limited_company_formation
limited_company_uk
limited_liability_company
private_limited_company
public_limited_company
company_name
company_secretary
| 
