Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ben, Charles, and Kai are recent University graduates in Sabah, Malaysia. They intend to start a business together as the COVID-19 effects have made it

image text in transcribed
image text in transcribed
Ben, Charles, and Kai are recent University graduates in Sabah, Malaysia. They intend to start a business together as the COVID-19 effects have made it difficult to find a job. However, they have not reached an agreement on the type of business to establish, either a Partnership or a Company. Ben wishes to form a Partnership; Charles prefers to set up a Company whilst Kai is still undecided. Ben, Charles, and Kai are unfamiliar with the nature of business in Malaysia, the necessary legal procedures for its establishment and the legal implications of the business. Besides, Ben, Charles and Kai lacked the financial means to seek professional legal advice to draft an agreement governing their business, themselves, and potential legal events in the future. Advise Ben, Charles, and Kai on the most appropriate business form with regards to the above requirements (CHOOSE ONLY ONE TYPE OF BUSINESS)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurship Successfully Launching New Ventures

Authors: Bruce R. Barringer, R. Duane Ireland

4th Edition

0132555522, 978-0132555524

More Books

Students also viewed these Law questions

Question

=+a) Comparing the ratings of a new telephone set on a

Answered: 1 week ago

Question

Values: What is important to me?

Answered: 1 week ago