George and John run a shop together. The do not wish a formal separation between their private and business interests. The most suitable legal vehicle for them would be

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George and John want to maintain a close relationship between their private and business interests, which is best achieved through a partnership. A partnership is a type of business structure where two or more individuals share ownership and management responsibilities. Partnerships have less formalities and legal requirements compared to companies, making it easier for George and John to operate their business. Additionally, partnerships offer tax benefits and the flexibility to distribute profits as per the partners' agreement. A private limited company and a public limited company involve more formalities and legal requirements and may not meet George and John's needs. A limited partnership involves having one or more general partners and at least one limited partner, which may not align with George and John's vision of a partnership where they share equal responsibilities and interests.

George and John Run a Shop Together