Business Law in Finance and Accounting Essay Example | Topics and Well Written Essays - 2000 words

Business Law in Finance and Accounting - Essay sheathUpon the dissolution of the ongoing partnership, the assets are distributed equally. By continuing with the current form of backing organization, Barbara, Helen and Maureen will visit various advantages and disadvantages as discussed below.Synergy. By combining their strengths, the three partners have sufficient latent to deal with the business challenges and achieve their objectives. Given the fact that each of them has a certain skill, they will be able to tackle various responsibilities for example marketing and innovation without incurring extra cost of hiring external personnel.Fewer regulations. As compared to corporations, joint ventures are subject to fewer regulations. This implies that the three partners owning seraphic Pleasures will not be curtail to undertake most of the activities (Sarah and Vida, 2013). Additionally, the partners will not incur high costs such as set about an initial public offer (IPO) which public companies engage in. As far as taxation is concerned, Sweet Pleasures, is exposed to fewer taxes, thus the partners are able to make high profits in approaching if they continue to work as a joint venture.Easy to form. Joint ventures are relatively leisurely to form. This is based on the fact that during their formation, the partners do not engage in extensive process. However, during the initial stages, vast thought should be put while looking for the best partner who has a positive mastermind towards business activities (Lucy, 2013).Accessibility of capital. By operating as joint venture, Sweet Pleasures will have stronger potential of accessing greater amount of capital (The Company Warehouse). Based on their interest in business activities and in store(predicate) expansion, financial institutions will likely be in a position to provide adequate property to the partnership.Liability. By working jointly, the partners are liable for the actions of other in the partners hip. This implies that if a partner fails in his or her roles,