Private Ltd Company vs LLP Watch

ntu_student
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3 friends looking to start a company, 1 of them is allowing his outbuildings to be used for the company, and the company (once set up) will seek a loan to refurbish the outbuildings. So, any bank will want security, and will surely want a charge on the outbuildings as that security? Above this they are all bringing the same set of skills to the bigger picture, and the other 2 will be investing their own cash into the company, as the 3rd is allowing the outbuildings to be used. I am stuck as to whether an LLP or Private company is the best way to proceed, as there are advantages and disadvantages to both. Anyone got any suggestions? I am aware that, in law, there is not always a correct answer by the way!! LOL
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james_law
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If your aware there is no correct answer then weigh up the pros and cons of each and come to a conclusion in favour of one or the other. As long as you back up with law etc then you have come to a reasoned conclusion.
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