... done while using the name of the association. The common examples of unincorporated associations are trade unions, clubs and Societies, Unit Trusts, co-operative societies and partnerships Public corporations, To start with lest first go though the limited liability company. 1. Limited Liability Company The primary advantage of these entities is that they are all based on the simple principle that the liability of the shareholders/subscribers and officers is strictly limited to their direct investment in the company. Generally, the only exceptions are when some kind of fraudulent or grossly reckless act or omission has occurred involving the aforementioned. It is important to note that the 'innocent' shareholder without any involvement in the malfeasance will not lose the benefit of limited liability. Basic Types Of Limited Liability Company 1. A Private Company Limited By Shares This is the most common type of company in Uganda. The principal purpose is to earn profits for the ...

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