Benefits of Converting a Partnership Business into a Private Limited Company | Provenience - 0 views
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provenience on 03 Sep 21With the growth of the business, entrepreneurs may wish to convert their businesses from a partnership to a private limited company mainly because of the following advantages: A company is a separate legal entity from its members/shareholders, thereby placing a limit on the liability of the shareholders. The member/shareholder of a company is liable only to the extent of the unpaid amount on the shares subscribed. As a partner in a partnership firm, individuals become personally liable for all debts, with no limit on their liability.