- Sharing of loss reduces the amount borne by a single partner.
- Partners enjoy relative privacy as the firm is not obliged to publish anything.
- Easy to from in that there are no legal formalities to be complied with.
- Partners are entitled to participate in the management of the firms business.
- Partnerships enjoy the requisite flexibility in that a firm is free to change the nature of business, it all partners agree.
- In the event of insolvency, a creditor is entitled to attach personal assets of the individual partners.
- Partners can freely dispose of their interests to other partners.
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