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OBJECTIVE:<br>
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The objective of this written assignment is for you to provide a comprehensive description of both the advantages and disadvantages of a limited company. Thereafter you are to assess how the structure and characteristics of a company differ from that of a sole trader and partnership. <br>
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TASKS: <br>
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You should identify the nature of a limited company by providing an analysis of its structure and characteristics. There should be an assessment of the different types of company such as the differences between a company limited by shares and one limited by guarantee. The difference between a private limited company and public limited company should be explained. However, you should concentrate on a private limited company, limited by shares.<br>
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There should be a detailed analysis of the structure of a limited company and how this is regulated by the Companies Act 2006. A description of the process of incorporation would be useful. You should then go onto analyse the mechanism for ownership of a company and a description of various classes of shares in a company. You should also provide an analysis of the differences between the officers of a company (such as the directors), its members and their respective rights and duties.<br>
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An analysis of the advantages and disadvantages of the various characteristics of a limited company is an essential requirement. <br>
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Thereafter you need to provide a further analysis of the characteristics of the two principal alternative forms of business organisation, namely, sole traders and partnerships. A description of the different types of partnership would be helpful. Your conclusion should offer a comparison between companies, sole traders and partnerships. <br>
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Your assignment must be electronically submitted via Blackboard by 11.59pm on Friday 26th June 2015. No other method of submission will be accepted. You are strongly recommended to complete your assignment in good time for the 26th June 2015 deadline.<br>
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INSTRUCTIONS FOR COMPLETION OF THE ASSIGNMENT: <br>
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You should present the assignment in the form of an essay of not more than 1500 words. You will be expected to refer to the recommended textbook, Law for Business Students, Adams, A. (7th Edition). Credit will be given where you have clearly shown independent research by reference to other relevant textbooks, internet resources and legal journals/articles – In such event you should provide a detailed bibliography identifying your sources. The bibliography does not form part of the overall word count.
