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A sole proprietorship is owned and controlled by one person who assumes all the risks and unlimited liability. A partnership involves two or more people who agree to share profits under an agreement but also have unlimited liability. Co-operative societies allow for voluntary and open membership where members democratically manage an association.
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The document compares the advantages and disadvantages of partnerships, corporations, and sole proprietorships as business structures. It notes that sole proprietorships are easy to create but offer no liability protection to the owner. Partnerships allow work to be shared but partners are liable for each other's debts. Corporations can exist indefinitely but are more expensive to form. The document concludes that entrepreneurs should choose the structure that will make them the most money, not just the one with the most advantages, and that an ice skating ring business would benefit from a partnership agreement.
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The document compares the advantages and disadvantages of partnerships, corporations, and sole proprietorships as business structures. It notes that sole proprietorships are easy to create but offer no liability protection to the owner. Partnerships allow work to be shared but partners are liable for each other's debts. Corporations can exist indefinitely but are more expensive to form. The document concludes that entrepreneurs should choose the structure that will make them the most money, not just the one with the most advantages, and that an ice skating ring business would benefit from a partnership agreement.
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La biodiversidad se refiere a la variedad de vida en la Tierra y existe a múltiples niveles, incluyendo diversidad de especies, genética y ecosistemas. La destrucción del hábitat debido a actividades humanas como la deforestación, urbanización y contaminación es la principal causa de extinción de especies. La conservación de la vida silvestre busca regular plantas y animales salvajes para permitir su continuidad como recursos naturales mediante técnicas como prohibiciones, restauración de hábitats y santuarios.
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The document discusses key aspects of partnership contracts and firms under Indian law. It defines a partnership as an agreement between two or more persons to share profits of a business. A partnership firm is not a legal entity under law. The document outlines essential elements of a partnership like mutual agency between partners, their rights and duties, and consequences of dissolution like continuing liability of partners.
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The document defines a partnership under Indian law as a relationship between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. The essential elements of a partnership are a contract between two or more persons to carry on business with the objective of sharing profits. There are two main kinds of partnerships - partnership at will which has an indefinite duration, and particular partnership which is formed for a fixed term or venture. A partnership can be dissolved by agreement between partners, by notice from a partner, or upon certain events such as the expiration of a fixed term, completion of an undertaking, death or insolvency of a partner.
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Anjus power point
- 2. SOLEPROPRITORSHIP ♦ One person ♦ Personal control ♦ Individual risk ♦ Unlimited liability
- 3. PARTNERSHIP ♣ Two/more persons ♣ Agreement ♣ Sharing profit ♣ Unlimited liability
- 4. CO – OPERATIVE SOCIETIES ♠ Voluntary association ♠ Association of persons ♠ Open membership ♠ Democratic management