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    Forming a business partnership can be done in many ways

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    Two friends have been made redundant from the retail trade and they want to form a company or partnership importing wine.
    I need to structure this essay with a points. This is my first time to do Business Law. they are not sure whether to do a partnership or ltd co and become directors.

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    Solution Preview

    Hello,
    <br>
    <br>First of all, your question is not clear. Forming a partnership can be done in many ways, including forming a Limited Liability Company (LLC). They do not become directors unless they form a corporation, either an S Corp or a regular C Corp (usually for larger corporations with many shareholders).
    <br>
    <br>All of these types are really determined by tax implications and the degree of protection of private assets of the owners. For example, with a C Corp, company profits are taxed ...

    Solution Summary

    Forming a partnership can be done in many ways, including forming a Limited Liability Company (LLC). They do not become directors unless they form a corporation, either an S Corp or a regular C Corp (usually for larger corporations with many shareholders).

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