Forming a company entails incorporating a business as a limited company and registering. In terms of the constitution of a limited corporation, there are three different alternatives available to choose from:

Limited liability company (Ltd) An organization that is limited by guarantee (Ltd) or a limited liability partnership (LLP).Even though it is referred to as a company, once incorporated, the law considers the business an independent entity with and owning its assets, liabilities, property, finances, and contractual obligations. In other words, it would be incorrect to say that a company's shareholders own its assets.Limited corporations are distinct from sole proprietorships in several ways, including the limited company's proprietor, who owns the company's assets, liabilities, property, finances, and contractual responsibilities.
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