What is Partnership?

A partnership is a strategic agreement or bond between two or additional people. Doing well partnerships are regularly based on belief, fairness, and mutual understanding and obligations.  Partnerships can be strict, where each party’s roles and obligations are spelled out in a printed agreement, or informal, where the roles and obligations are understood or agreed to verbally.  You may be capable to choose your associate or, as is over and over again the case, your associate may be consigned to you.

Partners are regularly required when running in a foreign nation, not only to crossing language barriers, but also to assist you carry out your work resourcefully without decreasing into the usual cross-cultural corners one come across in a foreign setting.

Running with a partner is, of course, burdened with downsides.  A partnership that has gone disagreeable can cause bitter feelings and ruin a business deal.  It is important for both parties to be open-minded and accepting of each other’s differences.  There must be a willingness to learn and adapt.  Both partners must be willing to exchange their technical knowledge and to relate as equals in a shared future.

The belongings of the company are owned on behalf of the other associates, and they are each personally responsible, equally and severally, for business credit, assessment or complicated problem. For example, if a business failure to pays on a compensation to a creditor, the partners’ private property are question to addition and bankruptcy to compensate the creditor.

Overview

Types of Partnership :

*General Partnership*

A general partnership is an understanding in which two or more folks or other persons (such as a company and an individual) perform production as “partners”, whether formally or not. In terms of asset security, general partnerships can be even not as good as than sole proprietorships. Whatever thing that one associate does influences all of the partners, because each partner of the of the general partnership is individually in lay the blame on for all obligations of the organization. Thus each general partner’s revelation to risk is enlarged by a factor equal to the number of general partners in the industry.

*Limited Partnership*

Limited partnership is restricted in management. In return, It is only responsible for the venture in the partnership. The General Partners are, in all main respects, in the same authorized arrangement as partners in a predictable firm, they have organization be in command of, contribute to the right to use partnership belongings, distribute the earnings of the firm in predefined percentages, and have combined and more than a few responsibility for the sum unpaid of the partnership. The highest figure of limited partners is set by country regulation to avoid using interests in the limited partnership as if they were shares of stock in a company. In addition to main concern in earnings, tax deductions, and prospective share in the success of the endeavour, the limited partner is “limited” in potential failure, since all he/she can go down is his/her savings, and the general partners only are focus to declares, balances in liquidation and lawsuits against the partnership.

*Limited Liability Partnership*

In a Limited Liability partnership one associate is not in charge or responsible for another partner’s wrongdoing or carelessness. This is an essential diversity from that of a limited partnership. In an Limited Liability Partnership, several associates have a structure of limited liability related to that of the investors of a business. In some countries, an Limited Liability Partnership be obliged to as well have at slightest one “general partner” with unlimited liability.

The border of a human being partner’s liability depends on the scale of the state’s LLP legislation. Various countries make available shield only against tort claims and do not expand security to a partner’s individual carelessness or lack of ability or to the partner’s participation in supervising illegal behaviour. Other states make available broad defence, including security in opposition to contractual claims brought by the partnership’s creditors. For example, Minnesota enacted an expansive LLP statute in 1994. This piece of legislation provided that a partner in an LLP was not liable to a creditor or for any obligation of the partnership. It further provided, however, that a partner was personally liable to the partnership and co partners for any breach of duty, and also allowed a creditor or other claimant to pierce the limited liability shield of a partner in the same way a claimant may pierce the corporate veil of a corporation and personally sue an individual member of the corporation.

Advantages and Disadvantages of a General Partnership :

Advantages :

In a general partnership, it is trouble-free and economical to produce and manoeuvre. One large advantage of a general partnership is that you don’t have to record with your position and compensate a fee, as you do to launch a business or limited liability company. And because a general partnership is in general a ” pass through” tax article (the partners, not the partnership, are taxed except you particularly choose to be taxed like a firm) filing revenue tax come back is easy.

Disadvantages :

The disadvantages of a general partnership is that partners may have dissimilar apparitions or aims for the business. There may be uneven obligation in terms of time and investments. There may also be individual disagreements. Partners are individually responsible for business debts and liabilities. Each associate may also be responsible for debts incurred, conclusions made, and accomplishments taken by the other partner or partners. At some time, there most positively will be differences in organization plans, functioning process, and upcoming vision for the business. You may meet difficulty in attracting investors.

Advantages and Disadvantages of a Limited Partnership

Advantages :

The advantages of a limited partnership it benefit from a quantity of reimbursement with a limited partnership. For a triumphant corporation, she can contribute to in the incomes with a least amount of endeavour. For an unsuccessful company, she is shielded from the widely held of the liability and other authorized issues which may arise. trouble-free of team makes this an eye-catching selection for family businesses, undersized or home-based businesses, husband-and-wife squads or entrepreneurs in necessitate of investment funds. A limited partnership boundaries the liability of limited partners to the quantity of capital they’ve invested, while protecting the general and liable partner’s attention by giving them individual blame of business functions at all levels.

Disadvantages :

The disadvantages of a limited partnership is that, because the limited partner is defended from the size of liability, she is also bounded in the task she can take part in the running of the corporation. If she becomes energetic, she runs the danger of taking on the liability of a general partner. It can also be complicated for a limited partner to take out her speculation in a limited partnership.

Advantages and Disadvantages of a Limited Liability Partnership :

Advantages :

The advantages of a limited liability partnership, it is not unexpectedly, propose limited liability for partners. That indicates that each associate is in charge only for the quantity of money he has given or guaranteed to the partnership, and each one of the partner is not “individually accountable.” By limiting liability to only partnership liability, the single fund that a person suing the partnership could prevail is partnership capital not a partner’s own savings. This makes limited liability partnerships extra safe and fewer economically danger than a partnership.

Incomes Not dual-tariff , unlike corporations, limited liability partnerships are tolled directly through the partnership. This evades mutual double-excise, where returns from a business and distributed incomes are both taxed. Because undersized (“close”) corporations undergo from double-taxation, a limited liability partnership may bid important tax release.

Disadvantages :

The disadvantages of a limited liability partnership are a few limits, some states put a ceiling on what career may structure a limited liability partnership. conventionally, specialized grounds of learn such as lawyers, architects and accountants are included. Some states essentially edge limited liability to these established fields. Still likely for Partner’s deeds in continuance of partnership, the partnership will still be responsible for actions taken by a partner in persistence of the partnership. This means that economically, being an associate of a limited liability partnership may be not as much of protected than just being a depositor of a business.

Summary of Advantages and Disadvantages of a Partnership :

Advantages:

The partnership is simply to set-up and categorized. The partner go into a partnership contract and begin industry. The partnership enjoys a recovered glory rating in the eyes of creditors. As the liability of each partner in the union is boundless, the economic association can carefully precede loan to the firms. Partnership can carry extra assets o the business by the combined attempts of the partners. The partnership is usually in tough location to elevate assets and develop the commerce. The income of a registered firm, after payment of super tax, is divided among the partners. They forfeit toll to the administration on their shares to income. The partnership can also be officially dissolved without much tricky by joint consent of the partners or in harmony with a agreement by the partners.

Disadvantages :

The one of the essential imperfection of the partnership is that the partners are individually and together accountable for all the amount overdue of the firm. The period of the partnership is all the time unsure. If any partner pass away, ill-treated, withdraws, sells his interest or a fresh partner is admitted into the business, the partnership comes to finish. In partnership the mishandling of the income is raised by the partners. In case of any disagreement between the partners, a hold-up may take place in management process. This can reason of failure to the business.

Recommendation :

If we do partnership we can have more ideas, spread the risks, more capital and increase market share and customers. Certain partners can bring in their own specialisation/ talent to the company. Any successful businessman had taken a risk in their business and in their life, if we don’t take any risk how to become a successful businessman. Doing a partnership have advantages and disadvantages. But if we put effort, hard work and do partnership we can be successful. Merging another company can make us stronger and can compete more in the market. We also can share our technologies with each other through partnership and it can be better. We can create a strong bond and a more profit if we do a partnership.

Bibliography :

http://en.wikipedia.org/wiki/Partnership

http://biztaxlaw.about.com/od/glossary/

http://legal-dictionary.thefreedictionary.com/

http://www.laborlawtalk.com/showthread.php?p=5531

http://www.legalzoom.com/lp-guide/limited-partnership-disadvantage.html

www.companieshouse.gov.uk/infoAndGuide/llp.shtml

http://biz.thestar.com.my/news/story.asp?file=/2008/4/14/business/20940408&sec=business

Introduction :

Singapore Telecommunication Limited (SingTel) SingTel Logo

SingTel Telecommunication is one of the biggest telecom companies in the region. It is the biggest company listed in the Singapore Stock Exchange in terms of market capitalisation. If we merge or do a partnership in this company it can benefits our company. Currently they grow up in their shares in the stock market. They have an absolute advantages, if we do a partnership in this company we will become bigger and we will become a very competitive in the market.

Here are some SingTel Company’s Profile & Business Activities

SingTel Company obtains market leadership awards. The company’s net worth profit increases 24% to $991 million. SingTel’ Group’s mobile shopper base expanded to 285 million. SingTel achieves another aim with the Carling Cup. SingTel Mobile and Sing Net named “best mobile machinist (Singapore)”.

Overview :

SingTel Company obtains market leadership awards

Singapore Telecommunications Limited (SingTel) proclaimed today it has obtained the impressive 2009 Leadership Award in the Data Centre Services Market.

SingTel received the prize for: (i) Leading market share (ii) Highest profits growth (iii) Largest data centre floor space in Singapore (iv) Inclusive and Innovative green Info com Technology (ICT) solutions. SingTel’s information centres offer a spacious selection of managed services that allow businesses to avoid heavy forthright investments in communications, while improving production, simplifying business operations and lowering the sum cost of ownership. Cutting-edge green ICT services, Server Management, Security Management, Backup Management and SingTel’s wide suite of Cloud Computing services recommend customers protection, harmony of mind and expediency.

“ If we do a partnership in this company we will become famous and can achieve some awards that can attract more customers and investors in our company. “

The company’s net worth profit increases 24% to $991 million

SingTel is a premeditated investor in the region’s generally triumphant mobile manoeuvre. SingTel is Asia’s leading communications group providing a assortment of services including voice and data solutions over fixed, wireless and internet platforms as well as info communication technology and pay TV. It has a network of 37 offices in 20 countries and territories throughout Asia Pacific, Europe and the United States.

Singapore Telecommunications Limited (SingTel) today proclaimed that its net revenue for the quarter ended 31 December 2009 rose 24 per cent to S$991 million, with its businesses in Singapore, Australia and district mobile acquaintances reporting get better presentation. The Group’s income posted a 20 per cent increase to S$4.45 billion, driven by stable enlargement from Singapore and Australia and assisted by the stronger Australian dollar.

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Free money flow for the nine months ended 31 December 2009 was S$2.25 billion, equivalent to a year ago. Singapore and Australia together recorded elevated free cash flows but bonus from the acquaintances fell as a result of Telkomsel’s weaker 2008 monetary presentation and timing differences in the receipt of dividends.

Income from the Singapore manufacture grew 1.5 per cent to S$1.53 billion as tough expansion in mobile and higher handset sales counterbalance a refuse in International Telephone profits. Excluding SCS returns for the month of September 2008 which was included in the quarter last year, underlying revenue growth was 4.2 per cent.

Total Business and Wholesale returns declined by 2.9 per cent as growth in settlement and comprehensive data was counterbalance by weaker corporate telecom spending and lower wholesale global voice revenue. EBITDA (Earnings Before Income Tax Depreciation Amortization) boundary remained steady at 24 per cent.

SingTel achieves another aim with the Carling Cup

Telkomsel’s mobile purchaser base grew by 25 per cent, or 16.3 million from a year ago, to 81.6 million.

Following two quarters of unconstructive net additions as it tossed out lower quality prepaid shoppers, Globe added 117,000 clients in the quarter. Globe had 23.2 million mobile purchasers as at 31 December 2009, down 5.9 per cent or 1.5 million from a year ago.

AIS’ mobile purchaser base grew 4.7 per cent, or 1.3 million, to 28.8 million. Warid’s total mobile client base rose to 18.8 million as at 31 December 2009, 11 per cent, or 1.9 million higher than a year ago. PBTL gained 7.7 per cent, or 139,000 more mobile customers, bringing its total purchaser base to 1.9 million.

“ SingTel is a big company that have shares in international telecommunication companies. If we do partnership with them we can also have sales not only in the region but also globally”.

SingTel achieves another aim with the Carling Cup and SingTel Mobile and Sing Net named “best mobile machinist (Singapore)”.

Singapore Telecommunications Limited (SingTel) at present proclaimed that mio TV has won the restricted put on air rights to the 2009/10 Carling Cup Final. All in progress Football Frenzy subscribers and those who have engaged up the BPL early bird propose will be able to watch the matches at no charge on Channel 61.

Mio TV is the pioneering digital pay TV service offering from SingTel. start on in July 2007, the package suggests consumers price and filled elasticity to watch what they desire, when they want. Within two years, mio TV has signed up over 100,000 clients.

“SingTel Company is not only focusing in telecommunication industry. They have broadband, cable television, hand phones, hand phone’s accessories. We can benefits all this features when we have a partnership in this company. They won the television screen bidding of the world cup and all football globally. They have a very competitive advantage. We will have an advantage in other telecommunication company if we partner with SingTel Company. In business we aim higher sales, one solution to reach that goal is to have a partnership and SingTel Telecommunication Company is the best company to merge.” C:Usersjhens_heartPicturesPicture1.jpg

Conclusion :

I am strongly suggesting that we must partner with SingTel. I am confident that it can become a successful business partner in the future. SingTel continues to enjoy major market share for data centre services. We want our company to become one of the most prestigious companies globally, if we want our company to be successful we will do a partnership with SingTel company. Compare our company’s revenue to SingTel revenue. SingTel’s revenue is much higher than our company. Imagine if we have that amount of sales, it can really help the company sales growth. We will negotiate how much we get if we merge together. Let say 50% we can get in total amount of our total sales. In terms of their stock market, they have the biggest stock exchange in the region. We can also have shares in the stock market if we do a partnership with them. It also can help our nation’s total growth. If we have a listed in stock market it can attract foreign investors to invest in our company. They also have all the rights in television screening of football internationally. Nowadays a lot of people want to see football, specially the world cup. We can have bigger sales in cable television because of the football lovers. Also, SingTel is the first telecom company in Singapore which launches the iphone. It means SingTel is the preferred telecom company of new models of phones launches around the world. By merging SingTel we can also have the latest phone models. We won’t be having any problems in terms of satellites or signals internationally, they had already some shares and partnership in other telecom company globally. Our company will have the total solution for all your information, communication and entertainment needs if we do partnership in SingTel Telecommunication Company.

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