Global Journal of Politics and Law Research (GJPLR)

EA Journals

Preference

The Preference of Limited Liability Companies over Partnership and Unlimited Companies in Business Management: The Deciding Considerations (Published)

A limited liability company acquires a corporate personality status from the date of its incorporation with the power to have a name of its own, to sue and be sued amongst other things. This connotes that the company becomes a distinct person from the owners or members of the company. The liabilities of members are limited only to the amount of unpaid shares taken by them in times of winding-up. The article discusses the preference of incorporated companies over partnership and unlimited companies

Keywords: Limited Liability Company, Partnership, Preference, Unlimited Company

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