The recent application by Apple Inc to trademark the term "startup" in Malaysia has caused an uproar among many Malaysians. It was reported that the technology giant has applied to trademark the word "startup' under various classes in relation to computing, namely the following:-
For 2013, Doing Business, a project by The World Bank and International Finance Corporation, ranked Malaysia as Number 12 out of 185 economies in Ease of Doing Business. It is an improvement for Malaysia who was ranked 14 in 2012. Little surprise that the world's favourite countries for setting-up companies, Singapore and Hong Kong are both ranked Number 1 and 2 respectively in Ease of Doing Business.
Or is there such a thing? As a company secretary, quite often I get asked by business owners what is the type of business entity that suit them best . Is Sdn Bhd (private limited company), or Sole Proprietorship better? Particularly since the introduction of LLP - Limited Liability Partnership, many are saying that it is the best business structure for business owners in Malaysia.
Limited Liability Partnership (LLP) was introduced by Companies Commission of Malaysia last year.
With the introduction of a new business vehicle by Companies Commission of Malaysia, we thought it might be worthwhile to come up with a comparative table that will briefly explain the significant differences between each business entities available in Malaysia.
If you are one of those wondering what is the difference between a Sdn Bhd, partnership, LLP and sole proprietorship, we hope the table helps.