Legal Section
The business will operate as a partnership because the number of people setting up the business will not exceed the permitted twenty. When operating as a partnership it is the partners' responsibility to inform the general public as to who the partners (joint proprietors) are within the business unit. The main advantage that applies to ILM Trading is that a partnership ensures that there is greater scope for raising finance. Another advantage that arises out of a partnership as regards finance is that if the business was to become insolvent then the partners would become jointly liable for any debts incurred. Debts would not fall on just one individual, as they would in the case of a sole trader. When setting up a partnership there is no onus to publish the results of the organisation in contrast to companies which are required by law to publish their results.

In order for a partnership to take place in the eyes of the law, a document known as the partnership......

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Title: Legal Aspects To Consider When Setting Up An Ebay Business
Approximate Word Count: 1472
Approximate Pages: 6 (250 words per double-spaced page)

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