Separate legal personality

Yes, and

No

OK?

‘Isn’t the whole reason of it being separate is because of limiting the amount of liability the members incur?’

Not necessarily! That’s certainly a BIG advantage of conducting business as a company but it’s not necessarily the ‘whole’ reason

‘Also can you give me an example of what type of businesses form unlimited liability companies’

I seem to recollect that I gave an example in lectures! However … in English law it is the case that a property cannot be registered in the names of more than 4 people. OK, Me, John, Ken, Tax tutor and Chris are in partnership and we decide to buy some property in England. Well, I certainly want my name on the ownership documents

But so does John

But so does Ken

But so does Tax tutor

And so does Chris

So what can we do?

Form an unlimited liability company and take shares in that company but buy the property in the company name

OK?