Appropriate Legal Structure

Pros And Cons of Sole Trading/ Partnership

Pros: Own Decisions, own all profits made, flexible hours, limited liability and less tax paperwork. The Cons are; Responsibility falls on own person, sponsors rely on one person, long hours, unlimited liability.

A sole trader is a business run by one person and this business type is easier to change. A partnership is 2 to 20 people running a business that doesn't include any shareholders. Shares are small segments of a business and share holders own parts of a business.      Unlimited liability and limited liability is the difference between responsibility for debt.      A Public Limited Company is a company owned by anybody.   

The reason to change any legal status would be national worldwide expansion and maybe shareholders could make that happen effectively, another reason would be financial distress or maybe a company might need to change to a privately run company.

Real Life Examples

Simply put Coca Cola is a Public Limited company and that also means it is possible for the public to buy shares.

Comment Stream

3 years ago

Your work shows some real positives…

Great start...key terms covered
Use of Images and Headings
Explanations are clear

In terms of Literacy and Presentation, your work is as follows…

Spelling - Excellent
Punctuation - Good
Grammar - Good
Use of quotations - N/A
Understanding of topic - Good
Application (real life / news / examples) - N/A
Analysis (detailed explanation / how / why) - Good
Evaluation (pros and cons weighed up and concluded) - N/A
Presentation (use of images / layout / style) - Satisfactory

Your work might be even better if…

You add a real life Business example or news story related to the topic (makes it more memorable and examiners love that)
Add bigger headings between definitions
Complete missing key terms


Merit (s)