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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
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) - I choose Partnership
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