What is Ltd and what Plc. and how to relate them with Croatian d. d. or d. o. o.? In this unit we will outline the legal forms of business in English speaking countries, the United Kingdom in 1. _. The conclusion is that Croatian equivalents are not 2. _ interchangeable but rather represent the most similar legal solutions. There are different ways of starting a business. The law 3. _ what you must do in each case. You have to know how to register a business or even if you need to register it at all. Find out the similarities and differences between 4. _ up companies in Croatia and in the UK. Here are some of the most common legal forms of business in the UK:
Sole trader or sole 5. _ The business and the owner are the same person in law. The owner is responsible for all the 6. _ of the business. There is only one owner and no partners. A sole proprietorship is not a corporation and it does not pay corporate taxes – the owner pays personal income tax on the profits 7. __. Most sole proprietors will register a trade name or a DBA (Doing Business As). This allows the proprietor to do business under a name other than their proper legal name and to open a business account with banking institutions.
General partnership In the case of general partnership a business is owned by two or more people (partners) who are personally 8. _ for all business debts. To form a partnership, each partner normally contributes money, valuable property or labour in 9. _ for a partnership share, which reflects the amount contributed. Partnerships are easy to form since no registration is required with a 10. __ agency (although tax registration and other requirements to conduct business may still apply).
