ABSTRACT
This chapter considers the different types of incorporated business structures. Each of the different business structures covered in this chapter has a separate legal personality to that of its owners. In this chapter we will look at limited liability partnerships, public limited companies and private limited companies. As you work through this chapter it is useful to consider why people in business choose to set up each of the three different types of incorporated businesses. In this chapter we will look at a private company that has been limited by shares. If the court pierced the veil of incorporation then it would see that the shareholder of the subsidiary was the parent company, and would then proceed to hold the parent company liable. Nonetheless, it is necessary to consider the case law here to interpret the statutory duties (s.170(4)). We will no. consider each of these duties in turn.
