Limiting business risks via limited liability partnerships (LLP); the Malaysian law and the Islamic law perspectives

In all business, there will always be business risks, be it calculated or uncalculated risks. Other than finding the right investments or business, it is also important for businessmen to know the means to limit the liability in business. In such a matter, the choice of business vehicle is vital. At...

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Main Authors:	Abd Ghadas, Zuhairah Ariff, Engku Ali, Engku Rabiah Adawiah
Format:	Conference or Workshop Item
Language:	English
Published:	2009
Subjects:	K Law (General) KBP Islamic Law KPG Malaysia
Online Access:	http://irep.iium.edu.my/12154/ http://irep.iium.edu.my/12154/ http://irep.iium.edu.my/12154/1/2009_-_Limiting_business_risks_via_limited_liability_partnerships_%28LLP%29-_the_Malaysian_law_and_the_Islamic_law_perspectives.pdf

id	iium-12154
recordtype	eprints
spelling	iium-121542012-04-26T05:47:25Z http://irep.iium.edu.my/12154/ Limiting business risks via limited liability partnerships (LLP); the Malaysian law and the Islamic law perspectives Abd Ghadas, Zuhairah Ariff Engku Ali, Engku Rabiah Adawiah K Law (General) KBP Islamic Law KPG Malaysia In all business, there will always be business risks, be it calculated or uncalculated risks. Other than finding the right investments or business, it is also important for businessmen to know the means to limit the liability in business. In such a matter, the choice of business vehicle is vital. At present, the Malaysian market place only offers sole proprietorships, partnerships and companies structure as options of business vehicles. However, in April 2008, the Companies Commission of Malaysia released the second consultative document on Malaysian limited liability partnerships (LLP). If the LLP is formally introduced in the market place, there will be a new business structure and a new business vehicle to limit business risk in Malaysia. It will also mark a major development in the Malaysian Partnerships Law. Under the Islamic law, partnerships structure (sharikah) has an established reputation and clear recognition as a valid business vehicle. The application of limited liability in sharikah is also well established and clearly justified. With the increasing number of Arab businessmen investing and doing business in Malaysia, it is important to look at the new LLP as one of the option of business vehicles. This paper intends to highlight features of the proposed LLP, with special reference to the attribute of limited liability. The discussion will include both the common law and the Islamic law perspectives. 2009 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/12154/1/2009_-_Limiting_business_risks_via_limited_liability_partnerships_%28LLP%29-_the_Malaysian_law_and_the_Islamic_law_perspectives.pdf Abd Ghadas, Zuhairah Ariff and Engku Ali, Engku Rabiah Adawiah (2009) Limiting business risks via limited liability partnerships (LLP); the Malaysian law and the Islamic law perspectives. In: The 1st International Conference on Arab-Malaysian Global Business and Entrepreneurship '09 , 5-9 March 2009, Malaysia House Al-Abbasiyyah, Cairo. http://www.cob.uum.edu.my/
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	K Law (General) KBP Islamic Law KPG Malaysia
spellingShingle	K Law (General) KBP Islamic Law KPG Malaysia Abd Ghadas, Zuhairah Ariff Engku Ali, Engku Rabiah Adawiah Limiting business risks via limited liability partnerships (LLP); the Malaysian law and the Islamic law perspectives
description	In all business, there will always be business risks, be it calculated or uncalculated risks. Other than finding the right investments or business, it is also important for businessmen to know the means to limit the liability in business. In such a matter, the choice of business vehicle is vital. At present, the Malaysian market place only offers sole proprietorships, partnerships and companies structure as options of business vehicles. However, in April 2008, the Companies Commission of Malaysia released the second consultative document on Malaysian limited liability partnerships (LLP). If the LLP is formally introduced in the market place, there will be a new business structure and a new business vehicle to limit business risk in Malaysia. It will also mark a major development in the Malaysian Partnerships Law. Under the Islamic law, partnerships structure (sharikah) has an established reputation and clear recognition as a valid business vehicle. The application of limited liability in sharikah is also well established and clearly justified. With the increasing number of Arab businessmen investing and doing business in Malaysia, it is important to look at the new LLP as one of the option of business vehicles. This paper intends to highlight features of the proposed LLP, with special reference to the attribute of limited liability. The discussion will include both the common law and the Islamic law perspectives.
format	Conference or Workshop Item
author	Abd Ghadas, Zuhairah Ariff Engku Ali, Engku Rabiah Adawiah
author_facet	Abd Ghadas, Zuhairah Ariff Engku Ali, Engku Rabiah Adawiah
author_sort	Abd Ghadas, Zuhairah Ariff
title	Limiting business risks via limited liability partnerships (LLP); the Malaysian law and the Islamic law perspectives
title_short	Limiting business risks via limited liability partnerships (LLP); the Malaysian law and the Islamic law perspectives
title_full	Limiting business risks via limited liability partnerships (LLP); the Malaysian law and the Islamic law perspectives
title_fullStr	Limiting business risks via limited liability partnerships (LLP); the Malaysian law and the Islamic law perspectives
title_full_unstemmed	Limiting business risks via limited liability partnerships (LLP); the Malaysian law and the Islamic law perspectives
title_sort	limiting business risks via limited liability partnerships (llp); the malaysian law and the islamic law perspectives
publishDate	2009
url	http://irep.iium.edu.my/12154/ http://irep.iium.edu.my/12154/ http://irep.iium.edu.my/12154/1/2009_-_Limiting_business_risks_via_limited_liability_partnerships_%28LLP%29-_the_Malaysian_law_and_the_Islamic_law_perspectives.pdf
first_indexed	2023-09-18T20:21:24Z
last_indexed	2023-09-18T20:21:24Z
_version_	1777408131066757120

Limiting business risks via limited liability partnerships (LLP); the Malaysian law and the Islamic law perspectives

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