JJ Asian Cuisine began operating their business as partnership. The business has been so successful that they cannot keep up with market demands and the owners/directors have decided to expand the business by setting up the factory on a large scale in Dandenong, Victoria. It is the time to change the business structure to a company rather than partnership.

Consider the implications on the owners (both favourable and unfavourable) of the decision to change from a partnership to company (4 marks)