What are the types of companies in Sierra Leone?

There are various types of companies in Sierra Leone. These include:

1. Individual Company: These are companies operated by a single person. The owner of the company takes full responsibility and is individually responsible for the profit and loss of the company.

2. Partnership: Companies established between two or more people. Profit and loss are shared among the partners, and the partners participate in the management of the company.

3. Limited Liability Company: These are companies established with the principle of limited liability. The personal property of the partners is independent of the company's debts.

4. Public Company: These are companies established under the control or participation of the state. They generally operate in strategic sectors.

5. Capital Partnership: These are companies that raise capital through shares. Shareholders receive a share of the company's profits and losses and participate in the company's management.

6. Cooperative: These are companies established for the common interests of the members. Profit and loss are shared among members and they have a democratic management structure. These company types are commonly used and legally recognized in Sierra Leone. Each may have different advantages and disadvantages, and there are factors to consider when starting a company.

What are the types of companies in Sierra Leone?

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