ACCA · Question 52 · Corporate and Business Law
SCENARIO 3: HarvestDrone Ltd and CropYield PLC wish to form a joint venture to develop AI-driven tractors. They want the new entity to have limited liability, but they want to maintain absolute secrecy over the joint venture's financial accounts, preventing competitors from seeing their R&D spend.
Which business structure should they choose to achieve BOTH limited liability and complete financial secrecy?
Answer options:
A Private Limited Company (Ltd).
A Limited Liability Partnership (LLP).
A General Partnership.
Neither; it is impossible to have both statutory limited liability and complete financial secrecy in the UK.
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