Advantages of a partnership as opposed to a limited liability company.

  • Sharing of loss reduces the amount borne a single partner.
  • Partners enjoy relative privacy as the firm is not obliged to publish anything.
  • Easy to from in that there are no legal formalities to be complied with.
  • Partners are entitled to participate in the management of the firms business.
  • Partnerships enjoy the requisite flexibility in that a firm is free to change the nature of business, it all partners agree.
  • In the event of insolvency, a creditor is entitled to attach personal assets of the individual partners.
  • Partners can freely dispose of their interests to other partners.
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