The Duke of York is encouraging people of all ages to come forward with new ideas, as part of a Palace-backed project to help start-up businesses.
The term ‘partnership’ describes a relationship between parties carrying on a business in common with a view to profit. Despite the creation of limited liability partnerships over a decade ago and the availability of other corporate vehicles, the partnership model remains popular, particularly amongst small professional firms who do not wish to be burdened by the legal and administrative requirements associated with incorporation.
When incorporating a company, it is easy to overlook the possible need for a shareholders’ agreement. However, this can be a crucial tool to the success and smooth operation of a company.