"Going forward" the changing facet of partnership base business structure; development of venture capital vehicles in Malaysia

Partnerships structure has long been accepted as one of the major venture capital vehicles. It is generally opted by small and medium businesses and by the professionals who are not allowed by their respective regulatory bodies to incorporate. With the development of the economy, the general partner...

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Main Author:	Abd Ghadas, Zuhairah Ariff
Format:	Conference or Workshop Item
Language:	English
Published:	2011
Subjects:	K Law (General) KPG Malaysia
Online Access:	http://irep.iium.edu.my/12168/ http://irep.iium.edu.my/12168/1/2011_-_Going_forward_the_changing_facet_of_partnership_base_business_structure-_development_of_venture_capital_vehicles_in_Malaysia.pdf

id	iium-12168
recordtype	eprints
spelling	iium-121682012-01-04T07:45:32Z http://irep.iium.edu.my/12168/ "Going forward" the changing facet of partnership base business structure; development of venture capital vehicles in Malaysia Abd Ghadas, Zuhairah Ariff K Law (General) KPG Malaysia Partnerships structure has long been accepted as one of the major venture capital vehicles. It is generally opted by small and medium businesses and by the professionals who are not allowed by their respective regulatory bodies to incorporate. With the development of the economy, the general partnership structure was found to be no longer suitable for some of the businesses, particularly the professionals. The rising cost in trade and litigation has forced partners to take precaution as regards to liabilities in the business. These lead to development in partnerships structure to limited partnerships (LP) and limited liability partnerships (LLP). In the United States of America (USA), the partnership structure has undergone a more rapid evolution to include master limited partnership and family limited partnership. In Singapore, LP and LLP had also been introduced. In Malaysia, the Companies Commission of Malaysia (CCM) had published two consultation documents on Limited Liability Partnerships (LLP); in 2003 and 2008 respectively. The discussion draft bill for LLP has also been released to few professional regulatory bodies in April 2009. The CCM initiatives marked a major step of development in Malaysian business laws after 54 years after independence but yet setting with only three-business structure. In Labuan, the Malaysian offshore, the Labuan Limited and Limited Liability Partnerships Act 2010 allows both LP and LLP to be registered in Labuan. This paper shall discuss the new venture capital vehicle in Malaysia, namely LP and LLP which are based upon partnership structure. The main objective of this paper is to highlight the changes on legal attributes of the partnership structure in its due course of evolution; with special reference to the legal status and liability regime. 2011 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/12168/1/2011_-_Going_forward_the_changing_facet_of_partnership_base_business_structure-_development_of_venture_capital_vehicles_in_Malaysia.pdf Abd Ghadas, Zuhairah Ariff (2011) "Going forward" the changing facet of partnership base business structure; development of venture capital vehicles in Malaysia. In: Proceedings The 6th UUM International Legal Conference 2011 (ILC2011) , 19-20 November 2011, Baywiew Beach Resort, Penang.
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) KPG Malaysia
spellingShingle	K Law (General) KPG Malaysia Abd Ghadas, Zuhairah Ariff "Going forward" the changing facet of partnership base business structure; development of venture capital vehicles in Malaysia
description	Partnerships structure has long been accepted as one of the major venture capital vehicles. It is generally opted by small and medium businesses and by the professionals who are not allowed by their respective regulatory bodies to incorporate. With the development of the economy, the general partnership structure was found to be no longer suitable for some of the businesses, particularly the professionals. The rising cost in trade and litigation has forced partners to take precaution as regards to liabilities in the business. These lead to development in partnerships structure to limited partnerships (LP) and limited liability partnerships (LLP). In the United States of America (USA), the partnership structure has undergone a more rapid evolution to include master limited partnership and family limited partnership. In Singapore, LP and LLP had also been introduced. In Malaysia, the Companies Commission of Malaysia (CCM) had published two consultation documents on Limited Liability Partnerships (LLP); in 2003 and 2008 respectively. The discussion draft bill for LLP has also been released to few professional regulatory bodies in April 2009. The CCM initiatives marked a major step of development in Malaysian business laws after 54 years after independence but yet setting with only three-business structure. In Labuan, the Malaysian offshore, the Labuan Limited and Limited Liability Partnerships Act 2010 allows both LP and LLP to be registered in Labuan. This paper shall discuss the new venture capital vehicle in Malaysia, namely LP and LLP which are based upon partnership structure. The main objective of this paper is to highlight the changes on legal attributes of the partnership structure in its due course of evolution; with special reference to the legal status and liability regime.
format	Conference or Workshop Item
author	Abd Ghadas, Zuhairah Ariff
author_facet	Abd Ghadas, Zuhairah Ariff
author_sort	Abd Ghadas, Zuhairah Ariff
title	"Going forward" the changing facet of partnership base business structure; development of venture capital vehicles in Malaysia
title_short	"Going forward" the changing facet of partnership base business structure; development of venture capital vehicles in Malaysia
title_full	"Going forward" the changing facet of partnership base business structure; development of venture capital vehicles in Malaysia
title_fullStr	"Going forward" the changing facet of partnership base business structure; development of venture capital vehicles in Malaysia
title_full_unstemmed	"Going forward" the changing facet of partnership base business structure; development of venture capital vehicles in Malaysia
title_sort	"going forward" the changing facet of partnership base business structure; development of venture capital vehicles in malaysia
publishDate	2011
url	http://irep.iium.edu.my/12168/ http://irep.iium.edu.my/12168/1/2011_-_Going_forward_the_changing_facet_of_partnership_base_business_structure-_development_of_venture_capital_vehicles_in_Malaysia.pdf
first_indexed	2023-09-18T20:21:25Z
last_indexed	2023-09-18T20:21:25Z
_version_	1777408131808100352

"Going forward" the changing facet of partnership base business structure; development of venture capital vehicles in Malaysia

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