Write a report to your supervising partner,provide her with a report which explains: 1. the costs, administrative and regulatory burdens of setting up and running partnerships and companies; 2. the potential liability to third parties for the two business structures of interest, the partnership and the company, and their participants…

You need to write a report to your supervising partner, Rebecca. Rebecca has asked you to
provide her with a report which explains:
1. the costs, administrative and regulatory burdens of setting up and running
partnerships and companies;
2. the potential liability to third parties for the two business structures of interest, the
partnership and the company, and their participants;
3. the importance and differences of the fiduciary duty owed in the operation of the
two business structures, the partnership and the company. The clients were
confused by the term fiduciary duty and its relevance to the two business structures,
so Rebecca wants you to explain the duties of partners in a partnership and the
duties of directors in a company, and the difference between them;
4. your recommendation on which business structure would best suit the clients
planned business. You need to be specific and explain why you recommend a
particular business structure. If you choose a company, what type of company is
most suitable? If you choose a partnership, what type of partnership is most
suitable?
You must address all the above points in your report.
Your supervising partner is assumed to be an experienced professional who probably
knows the law you are reporting, although she may not know the detail and may not
remember case names and section numbers, which you must reference properly. You
should use footnotes for referencing so there should be no need for a Reference List or a
Bibliography at the end of the assignment. However you must provide sources of any
resources you draw on in the answers. See the Moodle resources on Plagiarism. Be sure
to access the ALC for assistance with referencing.
You can therefore speak in technical terms to the partner. The purpose of reporting to your
partner is not to teach her the law they already know but to convince her that you have
done your research properly and that you have weighed up the issues sensibly. The
supervising partner needs to be satisfied of this in order to authorise you to advise the
client.
You can also assume that the supervising partner is aware of the first meeting and the
inquiries from the clients.