Discussion of Basic Forms of Business Organization. (Owbership)
Organization → represents a group of people who work together for the achievement of common objective
Forms of business ownership each have pros and cons that must be evaluated. The key forms are sole proprietorships, partnerships, and corporations. A sole proprietorship is a business owned and managed by one individual who is responsible for all aspects of the business and retains all profits but also bears all risks. A partnership is a business owned by two or more individuals who combine their skills and capital. Partnerships have more capital but profits and liability are shared. A corporation is a legal entity owned by shareholders with transferable shares of ownership. It can raise large amounts of capital through stock sales but profits pass through to shareholders.
This document discusses different forms of legal business organization. The three main forms are sole proprietorships, partnerships, and corporations. A sole proprietorship is owned and run by one individual who is personally liable for any debts or liabilities. Partnerships involve two or more owners who share liability and profits. Corporations are separate legal entities that can be taxed, sued, and have shareholders and directors, providing liability protection for owners. Each form has advantages and disadvantages regarding taxes, liability, funding, and regulations.
The document discusses different types of business organizations including sole proprietorships, partnerships, corporations, cooperatives, and types of businesses according to their activities. A sole proprietorship is owned and run by one individual who owns the business' assets and profits but also assumes its liabilities. Partnerships involve two or more owners who contribute resources and share responsibilities under an agreement. Corporations are legally separate entities from their owners whose shares represent ownership. Cooperatives are associations that are democratically owned and controlled by their members. The document also defines service, merchandising, and manufacturing businesses according to whether they provide intangible products, buy and resell tangible goods, or transform raw materials through production.
This document discusses different types of business organizations: sole proprietorship, partnership, corporation, and cooperative. A sole proprietorship is owned by one individual who has unlimited liability. A partnership involves two or more individuals who share ownership and profits but also have unlimited liability. A corporation is a separate legal entity owned by shareholders who have limited liability. Cooperatives are owned by members who use the business and have equal votes regardless of investment.
This document discusses different organizational structures for businesses, including proprietorships, partnerships, and corporations. It compares key aspects of each like ownership, liability, costs, continuity, capital requirements, and attractiveness for raising capital. The three main legal forms are compared in detail on these factors. The document also discusses designing an organization, including structure, selection criteria, training, and rewards. It outlines the duties of boards of directors and advisors and how they can support a growing business.
This document provides an overview of laws governing business organizations in Indonesia. It discusses the main types of business entities recognized in Indonesia, including sole proprietorships, partnerships, corporations, and joint ventures. For each type of business entity, the document outlines how they are formed, governed, and their basic legal characteristics such as limited liability and ownership. It also discusses the process for setting up a business and company in Indonesia, as well as relevant regulations regarding foreign ownership of Indonesian businesses.
CHAPTER ONE(B)- FORMS OF BUSINESS ORGANISATIONS.pptDaveN31
This document discusses different forms of business organizations including non-corporate organizations like sole proprietorships and partnerships, as well as corporate organizations like public and private limited companies. It focuses on key features and advantages/disadvantages of each type. Specifically, it provides details on sole proprietorships, partnerships, and limited liability for corporate organizations.
Are you searching on the internet for which types of business forms are suitable for you, and make it big internationally in the future? Well, you're in the right spot! Today, I'll help you understand all you need to know about setting up a new business. There are some important things to keep in mind when registering your business, and I'll break them down for you. Let's make this journey simple and exciting!
In India, businesses can be of different types, each with its own good and not-so-good parts. There's the simplest one called sole proprietorship, great for small businesses. Then there are partnerships where a bunch of people share the good and bad stuff together.
LLPs are cool because they give some protection to the partners, and private limited companies also do that for the people who own shares, but there are some rules. Public limited companies can get money from the public through the stock market. Each type has rules you need to follow, and these rules affect how businesses work and make decisions.
Forms of business ownership each have pros and cons that must be evaluated. The key forms are sole proprietorships, partnerships, and corporations. A sole proprietorship is a business owned and managed by one individual who is responsible for all aspects of the business and retains all profits but also bears all risks. A partnership is a business owned by two or more individuals who combine their skills and capital. Partnerships have more capital but profits and liability are shared. A corporation is a legal entity owned by shareholders with transferable shares of ownership. It can raise large amounts of capital through stock sales but profits pass through to shareholders.
This document discusses different forms of legal business organization. The three main forms are sole proprietorships, partnerships, and corporations. A sole proprietorship is owned and run by one individual who is personally liable for any debts or liabilities. Partnerships involve two or more owners who share liability and profits. Corporations are separate legal entities that can be taxed, sued, and have shareholders and directors, providing liability protection for owners. Each form has advantages and disadvantages regarding taxes, liability, funding, and regulations.
The document discusses different types of business organizations including sole proprietorships, partnerships, corporations, cooperatives, and types of businesses according to their activities. A sole proprietorship is owned and run by one individual who owns the business' assets and profits but also assumes its liabilities. Partnerships involve two or more owners who contribute resources and share responsibilities under an agreement. Corporations are legally separate entities from their owners whose shares represent ownership. Cooperatives are associations that are democratically owned and controlled by their members. The document also defines service, merchandising, and manufacturing businesses according to whether they provide intangible products, buy and resell tangible goods, or transform raw materials through production.
This document discusses different types of business organizations: sole proprietorship, partnership, corporation, and cooperative. A sole proprietorship is owned by one individual who has unlimited liability. A partnership involves two or more individuals who share ownership and profits but also have unlimited liability. A corporation is a separate legal entity owned by shareholders who have limited liability. Cooperatives are owned by members who use the business and have equal votes regardless of investment.
This document discusses different organizational structures for businesses, including proprietorships, partnerships, and corporations. It compares key aspects of each like ownership, liability, costs, continuity, capital requirements, and attractiveness for raising capital. The three main legal forms are compared in detail on these factors. The document also discusses designing an organization, including structure, selection criteria, training, and rewards. It outlines the duties of boards of directors and advisors and how they can support a growing business.
This document provides an overview of laws governing business organizations in Indonesia. It discusses the main types of business entities recognized in Indonesia, including sole proprietorships, partnerships, corporations, and joint ventures. For each type of business entity, the document outlines how they are formed, governed, and their basic legal characteristics such as limited liability and ownership. It also discusses the process for setting up a business and company in Indonesia, as well as relevant regulations regarding foreign ownership of Indonesian businesses.
CHAPTER ONE(B)- FORMS OF BUSINESS ORGANISATIONS.pptDaveN31
This document discusses different forms of business organizations including non-corporate organizations like sole proprietorships and partnerships, as well as corporate organizations like public and private limited companies. It focuses on key features and advantages/disadvantages of each type. Specifically, it provides details on sole proprietorships, partnerships, and limited liability for corporate organizations.
Are you searching on the internet for which types of business forms are suitable for you, and make it big internationally in the future? Well, you're in the right spot! Today, I'll help you understand all you need to know about setting up a new business. There are some important things to keep in mind when registering your business, and I'll break them down for you. Let's make this journey simple and exciting!
In India, businesses can be of different types, each with its own good and not-so-good parts. There's the simplest one called sole proprietorship, great for small businesses. Then there are partnerships where a bunch of people share the good and bad stuff together.
LLPs are cool because they give some protection to the partners, and private limited companies also do that for the people who own shares, but there are some rules. Public limited companies can get money from the public through the stock market. Each type has rules you need to follow, and these rules affect how businesses work and make decisions.
Pillay Ronal Anthony Roll no;79 assignment 1.pdffiweif
The document discusses different types of business organizations including sole proprietorships, partnerships, corporations, and cooperatives. It covers the key characteristics of each type of business organization such as sole proprietorships being owned by one individual, partnerships having two or more owners who share profits and liability, corporations being legally separate entities from their owners with transferable shares, and cooperatives being jointly-owned organizations that provide services to their members. The document also compares the advantages and disadvantages of each type of business organization and factors to consider when choosing between them such as capital requirements, liability, and tax implications.
This document discusses different types of business entities including sole proprietorships, partnerships, and corporations. It outlines the key characteristics of each type such as limited liability, ease of formation, taxation, and ownership structure. The document also defines micro, small and medium enterprises based on factors like number of employees, annual turnover, and capital investment. It provides examples of common business ventures that fall under micro, small and medium-sized categories.
There are four main forms of business organization: sole proprietorships, partnerships, corporations, and limited liability companies (LLCs). Sole proprietorships have one owner with unlimited liability, while partnerships have two or more owners with unlimited or limited liability depending on the type of partnership. Corporations have stockholders with limited liability and can exist indefinitely. LLCs combine features of corporations and partnerships, providing owners limited liability with pass-through taxation.
CorporationsThis week we will discuss business entities. We will.docxvanesaburnand
Corporations
This week we will discuss business entities. We will begin with an analysis of the corporation, which is the most significant business form.
To start, corporations can be classified in various ways. A corporation is called a domestic corporation in its own state. If the corporation is formed in one state but doing business in another, it is referred to as a foreign corporation in the other state. A corporation formed in another country is an alien corporation. Corporations may be either public or private. Public corporations are formed by the government. You are likely most familiar with private corporations that are created for a private benefit. Corporations can also be formed as non-profits. This is done because the corporate forms have many advantages (discussed later) even for entities that do not have a profit-seeking motive. Corporations may be closely held. In these corporations, shares are held by few people (and there may be significant restrictions in transferring shares and in protecting the rights of minority shareholders). Finally, there are so-called S-Corporations. These are named after a section of the Internal Revenue Code to avoid the imposition of income taxes at the corporate level.
Although the requirements for forming a corporation differ in the particulars from state to state, these procedures are roughly similar in broad strokes. States will require articles of incorporation that include basic information about the corporation, such as name, purpose, duration, capital structure etc. These will serve as the primary source of authority for its future organization and business functions. Once these article are prepared, signed and filed with the secretary of state (with any required filing fees), the secretary will issue a certificate of incorporation that serves as the corporation’s authorization to conduct business. Once this is done, an organizational meeting will be held. There the board will be elected, bylaws are passed and stock will be issued.
Once the corporation is formed, there are various rules governing the management of the corporation. Normally, the management of the corporation is done by directors and officers. The articles of incorporation determines the number of directors and the manner in which they conduct business. Majority rules on most boards of directors, and the directors are responsible for the declaration of dividends, authorizing major corporate policies, and supervising corporate officers. Officers are responsible for the day-to-day management of the corporation. Ordinarily, they are appointed by the board.
The directors and officers of a corporation owe various fiduciaries duties. As fiduciaries, they are obligated to meet the duty of care. This duty obligates them to be honest and use prudent business judgment in the conduct of corporate affairs. This standard is objective: they must use the degree of care that reasonably prudent people use in the conduct of.
1. The document discusses the definition, features, and advantages/disadvantages of a joint stock company under Indian law. It defines a company and outlines the key characteristics of a joint stock company such as separate legal existence, perpetual succession, and limited liability.
2. Additionally, it covers the roles and duties of company directors. Directors are agents of the company who manage its affairs and owe fiduciary duties to act with reasonable care, skill, and in the company's best interests. Appointment and duties of directors are prescribed by the Companies Act.
3. The advantages of a joint stock company include access to large capital, risk sharing among shareholders, and continuity of business. Disadvantages include costs of incorporation and
This document defines and describes corporations. It explains that corporations are legal entities distinct from their owners. They have limited liability, meaning shareholders are not responsible for corporate debts beyond their investment. Corporations also have separated ownership and control, with shareholders electing a board of directors to appoint managers and oversee operations. The document contrasts corporations with sole proprietorships and partnerships, and notes that large businesses are typically organized as corporations to attract diverse investors.
This document discusses different types of business ownership including sole proprietorships, partnerships, and corporations. It provides details on the key advantages and disadvantages of each structure. It also discusses what entrepreneurs are, characteristics of entrepreneurs, common industries for small businesses, and key steps for starting a new business such as developing a business plan. The document provides guidance on important questions to consider when deciding on a business idea and type of ownership.
The document discusses different types of business ownership structures including sole proprietorships, partnerships, corporations, S corporations, and limited liability companies. It outlines key advantages and disadvantages of each structure to consider such as liability, taxes, funding options, and control. Factors to evaluate include business size and goals, personal liability risk, tax implications, and capital needs.
This document provides definitions and characteristics of sole proprietorship, partnership, and company forms of business. A sole proprietorship is owned and controlled by one person who is personally liable for all debts. A partnership is owned by two or more people who share profits and liabilities. A company is a separate legal entity from its owners, with shareholders having limited liability but also separation of ownership and management.
There are several forms of business ownership. A sole proprietorship is owned and operated by one individual who owns the business assets and is responsible for debts and liabilities. A partnership involves multiple owners who share profits and losses according to an agreement. Partnerships can be general partnerships where partners share management and liability equally or limited partnerships where some partners have limited liability. Other forms of business ownership include joint ventures, corporations, and public sector organizations.
The document discusses different types of business organizations including sole proprietorships, partnerships, corporations, franchises, cooperatives, and non-profits. Sole proprietorships are owned and managed by one individual and make up about 6% of businesses in the US. Partnerships are owned by two or more individuals who share responsibility and liability. Corporations are legally separate entities from their owners and can sell ownership shares to raise capital.
There are several types of business structures that provide different levels of liability protection for owners. A sole proprietorship is owned by one individual who has unlimited liability for business debts. A general partnership has two or more owners who each have unlimited liability. A corporation provides shareholders with limited liability, protecting their personal assets but requiring more complex legal structures. Cooperatives are businesses owned by their members to provide mutual benefits rather than profit.
A sole proprietorship has advantages like ease of starting the business with little legal work or capital required. The owner also has full control and keeps all profits. However, the owner has unlimited liability for debts and is fully responsible for all aspects of running the business alone. This limits growth potential and longevity depends on the owner. Partnerships can specialize work and share decision-making and losses. However, partners have unlimited liability for each other's actions and conflicts can arise. Corporations are formed through articles of incorporation and a charter. They can own property, be sued, and sell stock to raise funds. Vertical combinations involve different production phases of the same good, while horizontal and conglomerate combinations involve only one production phase.
The document discusses different types of business entities, including sole proprietorships and partnerships.
[1] A sole proprietorship is a business owned and run by one individual, with no legal distinction between the owner and the business. The sole proprietor receives all profits and bears all losses and debts.
[2] Partnerships involve two or more individuals joining together to carry on a trade or business. Partners contribute capital, share profits and losses, and have some management role. Partners are jointly and individually liable for the actions of other partners.
[3] The document outlines characteristics, advantages, and disadvantages of sole proprietorships and partnerships. It also defines different types of partners like active, sleeping
The document discusses different forms of business ownership including sole proprietorships, partnerships, and corporations. Sole proprietorships are owned by one individual who is personally liable for all debts and obligations of the business. Partnerships involve two or more owners who share joint liability. General partnerships divide management equally while limited partnerships limit some liability and participation in management. Corporations are separate legal entities from their owners where shareholders have limited liability but the business is subject to more legal compliance requirements.
This document outlines different types of business organizations and their legal structures. It discusses sole proprietorships, partnerships, corporations, and different types of companies. It describes key aspects of companies like their constitution, directors, disclosure requirements, and corporate governance. The legal forms of organization each have different ownership structures and liabilities. Companies must have memorandums and articles of association, and are governed by boards of directors.
Introduction The decision of the business structure is one.pdfbkbk37
This document discusses and compares different business structures in the UK, including sole proprietorships, partnerships, limited liability partnerships (LLPs), and companies. It outlines the key features and legal requirements of each structure, such as ownership, liability, taxation, formation, and dissolution. After analyzing the advantages and disadvantages of each option, the document recommends forming a company for IOM Solutions due to benefits like limited liability, separate legal identity, potential for growth, and ability to hire professional management.
The document discusses different types of business entities including sole proprietorships, partnerships, corporations, and limited liability companies. It outlines the key advantages and disadvantages of each structure in terms of control, financial liability, taxation, and other factors. When choosing a business entity, owners must evaluate legal liability, tax implications, costs, flexibility, and future needs. A sole proprietorship gives owners control but unlimited liability while a partnership shares control but also liability. A corporation provides liability protection but has more complex compliance requirements. A limited liability company combines characteristics of partnerships and corporations.
This document provides an overview of different forms of business organizations under Indian law. It discusses private enterprises such as sole proprietorships, partnerships, joint stock companies, and Hindu Undivided Families. It then covers cooperatives and their definition and types. Finally, it examines public sector enterprises and types of public sector organizations. The document includes details on the characteristics, advantages, and disadvantages of each form of business organization. It provides a comprehensive yet concise introduction to the legal aspects and types of businesses in India.
A sole trader business is owned and operated by one person. It has few legal requirements beyond registering with tax authorities and adhering to relevant industry laws. Advantages include complete control, keeping all profits, and flexibility. Disadvantages include unlimited liability, limited financing options, and risk if the sole proprietor becomes ill or dies.
buy old yahoo accounts buy yahoo accountsSusan Laney
As a business owner, I understand the importance of having a strong online presence and leveraging various digital platforms to reach and engage with your target audience. One often overlooked yet highly valuable asset in this regard is the humble Yahoo account. While many may perceive Yahoo as a relic of the past, the truth is that these accounts still hold immense potential for businesses of all sizes.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Pillay Ronal Anthony Roll no;79 assignment 1.pdffiweif
The document discusses different types of business organizations including sole proprietorships, partnerships, corporations, and cooperatives. It covers the key characteristics of each type of business organization such as sole proprietorships being owned by one individual, partnerships having two or more owners who share profits and liability, corporations being legally separate entities from their owners with transferable shares, and cooperatives being jointly-owned organizations that provide services to their members. The document also compares the advantages and disadvantages of each type of business organization and factors to consider when choosing between them such as capital requirements, liability, and tax implications.
This document discusses different types of business entities including sole proprietorships, partnerships, and corporations. It outlines the key characteristics of each type such as limited liability, ease of formation, taxation, and ownership structure. The document also defines micro, small and medium enterprises based on factors like number of employees, annual turnover, and capital investment. It provides examples of common business ventures that fall under micro, small and medium-sized categories.
There are four main forms of business organization: sole proprietorships, partnerships, corporations, and limited liability companies (LLCs). Sole proprietorships have one owner with unlimited liability, while partnerships have two or more owners with unlimited or limited liability depending on the type of partnership. Corporations have stockholders with limited liability and can exist indefinitely. LLCs combine features of corporations and partnerships, providing owners limited liability with pass-through taxation.
CorporationsThis week we will discuss business entities. We will.docxvanesaburnand
Corporations
This week we will discuss business entities. We will begin with an analysis of the corporation, which is the most significant business form.
To start, corporations can be classified in various ways. A corporation is called a domestic corporation in its own state. If the corporation is formed in one state but doing business in another, it is referred to as a foreign corporation in the other state. A corporation formed in another country is an alien corporation. Corporations may be either public or private. Public corporations are formed by the government. You are likely most familiar with private corporations that are created for a private benefit. Corporations can also be formed as non-profits. This is done because the corporate forms have many advantages (discussed later) even for entities that do not have a profit-seeking motive. Corporations may be closely held. In these corporations, shares are held by few people (and there may be significant restrictions in transferring shares and in protecting the rights of minority shareholders). Finally, there are so-called S-Corporations. These are named after a section of the Internal Revenue Code to avoid the imposition of income taxes at the corporate level.
Although the requirements for forming a corporation differ in the particulars from state to state, these procedures are roughly similar in broad strokes. States will require articles of incorporation that include basic information about the corporation, such as name, purpose, duration, capital structure etc. These will serve as the primary source of authority for its future organization and business functions. Once these article are prepared, signed and filed with the secretary of state (with any required filing fees), the secretary will issue a certificate of incorporation that serves as the corporation’s authorization to conduct business. Once this is done, an organizational meeting will be held. There the board will be elected, bylaws are passed and stock will be issued.
Once the corporation is formed, there are various rules governing the management of the corporation. Normally, the management of the corporation is done by directors and officers. The articles of incorporation determines the number of directors and the manner in which they conduct business. Majority rules on most boards of directors, and the directors are responsible for the declaration of dividends, authorizing major corporate policies, and supervising corporate officers. Officers are responsible for the day-to-day management of the corporation. Ordinarily, they are appointed by the board.
The directors and officers of a corporation owe various fiduciaries duties. As fiduciaries, they are obligated to meet the duty of care. This duty obligates them to be honest and use prudent business judgment in the conduct of corporate affairs. This standard is objective: they must use the degree of care that reasonably prudent people use in the conduct of.
1. The document discusses the definition, features, and advantages/disadvantages of a joint stock company under Indian law. It defines a company and outlines the key characteristics of a joint stock company such as separate legal existence, perpetual succession, and limited liability.
2. Additionally, it covers the roles and duties of company directors. Directors are agents of the company who manage its affairs and owe fiduciary duties to act with reasonable care, skill, and in the company's best interests. Appointment and duties of directors are prescribed by the Companies Act.
3. The advantages of a joint stock company include access to large capital, risk sharing among shareholders, and continuity of business. Disadvantages include costs of incorporation and
This document defines and describes corporations. It explains that corporations are legal entities distinct from their owners. They have limited liability, meaning shareholders are not responsible for corporate debts beyond their investment. Corporations also have separated ownership and control, with shareholders electing a board of directors to appoint managers and oversee operations. The document contrasts corporations with sole proprietorships and partnerships, and notes that large businesses are typically organized as corporations to attract diverse investors.
This document discusses different types of business ownership including sole proprietorships, partnerships, and corporations. It provides details on the key advantages and disadvantages of each structure. It also discusses what entrepreneurs are, characteristics of entrepreneurs, common industries for small businesses, and key steps for starting a new business such as developing a business plan. The document provides guidance on important questions to consider when deciding on a business idea and type of ownership.
The document discusses different types of business ownership structures including sole proprietorships, partnerships, corporations, S corporations, and limited liability companies. It outlines key advantages and disadvantages of each structure to consider such as liability, taxes, funding options, and control. Factors to evaluate include business size and goals, personal liability risk, tax implications, and capital needs.
This document provides definitions and characteristics of sole proprietorship, partnership, and company forms of business. A sole proprietorship is owned and controlled by one person who is personally liable for all debts. A partnership is owned by two or more people who share profits and liabilities. A company is a separate legal entity from its owners, with shareholders having limited liability but also separation of ownership and management.
There are several forms of business ownership. A sole proprietorship is owned and operated by one individual who owns the business assets and is responsible for debts and liabilities. A partnership involves multiple owners who share profits and losses according to an agreement. Partnerships can be general partnerships where partners share management and liability equally or limited partnerships where some partners have limited liability. Other forms of business ownership include joint ventures, corporations, and public sector organizations.
The document discusses different types of business organizations including sole proprietorships, partnerships, corporations, franchises, cooperatives, and non-profits. Sole proprietorships are owned and managed by one individual and make up about 6% of businesses in the US. Partnerships are owned by two or more individuals who share responsibility and liability. Corporations are legally separate entities from their owners and can sell ownership shares to raise capital.
There are several types of business structures that provide different levels of liability protection for owners. A sole proprietorship is owned by one individual who has unlimited liability for business debts. A general partnership has two or more owners who each have unlimited liability. A corporation provides shareholders with limited liability, protecting their personal assets but requiring more complex legal structures. Cooperatives are businesses owned by their members to provide mutual benefits rather than profit.
A sole proprietorship has advantages like ease of starting the business with little legal work or capital required. The owner also has full control and keeps all profits. However, the owner has unlimited liability for debts and is fully responsible for all aspects of running the business alone. This limits growth potential and longevity depends on the owner. Partnerships can specialize work and share decision-making and losses. However, partners have unlimited liability for each other's actions and conflicts can arise. Corporations are formed through articles of incorporation and a charter. They can own property, be sued, and sell stock to raise funds. Vertical combinations involve different production phases of the same good, while horizontal and conglomerate combinations involve only one production phase.
The document discusses different types of business entities, including sole proprietorships and partnerships.
[1] A sole proprietorship is a business owned and run by one individual, with no legal distinction between the owner and the business. The sole proprietor receives all profits and bears all losses and debts.
[2] Partnerships involve two or more individuals joining together to carry on a trade or business. Partners contribute capital, share profits and losses, and have some management role. Partners are jointly and individually liable for the actions of other partners.
[3] The document outlines characteristics, advantages, and disadvantages of sole proprietorships and partnerships. It also defines different types of partners like active, sleeping
The document discusses different forms of business ownership including sole proprietorships, partnerships, and corporations. Sole proprietorships are owned by one individual who is personally liable for all debts and obligations of the business. Partnerships involve two or more owners who share joint liability. General partnerships divide management equally while limited partnerships limit some liability and participation in management. Corporations are separate legal entities from their owners where shareholders have limited liability but the business is subject to more legal compliance requirements.
This document outlines different types of business organizations and their legal structures. It discusses sole proprietorships, partnerships, corporations, and different types of companies. It describes key aspects of companies like their constitution, directors, disclosure requirements, and corporate governance. The legal forms of organization each have different ownership structures and liabilities. Companies must have memorandums and articles of association, and are governed by boards of directors.
Introduction The decision of the business structure is one.pdfbkbk37
This document discusses and compares different business structures in the UK, including sole proprietorships, partnerships, limited liability partnerships (LLPs), and companies. It outlines the key features and legal requirements of each structure, such as ownership, liability, taxation, formation, and dissolution. After analyzing the advantages and disadvantages of each option, the document recommends forming a company for IOM Solutions due to benefits like limited liability, separate legal identity, potential for growth, and ability to hire professional management.
The document discusses different types of business entities including sole proprietorships, partnerships, corporations, and limited liability companies. It outlines the key advantages and disadvantages of each structure in terms of control, financial liability, taxation, and other factors. When choosing a business entity, owners must evaluate legal liability, tax implications, costs, flexibility, and future needs. A sole proprietorship gives owners control but unlimited liability while a partnership shares control but also liability. A corporation provides liability protection but has more complex compliance requirements. A limited liability company combines characteristics of partnerships and corporations.
This document provides an overview of different forms of business organizations under Indian law. It discusses private enterprises such as sole proprietorships, partnerships, joint stock companies, and Hindu Undivided Families. It then covers cooperatives and their definition and types. Finally, it examines public sector enterprises and types of public sector organizations. The document includes details on the characteristics, advantages, and disadvantages of each form of business organization. It provides a comprehensive yet concise introduction to the legal aspects and types of businesses in India.
A sole trader business is owned and operated by one person. It has few legal requirements beyond registering with tax authorities and adhering to relevant industry laws. Advantages include complete control, keeping all profits, and flexibility. Disadvantages include unlimited liability, limited financing options, and risk if the sole proprietor becomes ill or dies.
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As a business owner, I understand the importance of having a strong online presence and leveraging various digital platforms to reach and engage with your target audience. One often overlooked yet highly valuable asset in this regard is the humble Yahoo account. While many may perceive Yahoo as a relic of the past, the truth is that these accounts still hold immense potential for businesses of all sizes.
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3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
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How MJ Global Leads the Packaging Industry.pdfMJ Global
MJ Global's success in staying ahead of the curve in the packaging industry is a testament to its dedication to innovation, sustainability, and customer-centricity. By embracing technological advancements, leading in eco-friendly solutions, collaborating with industry leaders, and adapting to evolving consumer preferences, MJ Global continues to set new standards in the packaging sector.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
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(i.e., industry structure in the language of economics).
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
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• Introduce a taxonomy for user goals with real world examples
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• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
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Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
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FORMS OF ORGANIZATION.docx
1. TOPIC : FORMS OF ORGANIZATION
SUBTOPICS :
1. Proprietorship
2. Partnership
3. Corporation
4. Hybrid type of Organization
WHAT IS AN ORGANIZATION?
Organization → represents a group of people who work together for the
achievement of common objective.
COMMON FORMS OF BUSINESS ORGANIZATIONS
SOLE PROPRIETORSHIP
The simplest and most common form of business ownership, sole
proprietorship is a business owned and run by someone for their own
benefit. The business’ existence is entirely dependent on the owner’s
decisions, so when the owner dies, so does the business.
ADVANTAGES OF SOLE PROPRIETORSHIP
Easiest and least expensive form of ownership to organize.
Sole proprietors are in complete control,and withinthe parameters
of the law, may make decisions as they see fit.
Profits from the business flow-through directly to the owner’s
personal tax return.
The business is easy to dissolve, if desired.
DISADVANTAGES OF SOLE PROPRIETORSHIP
Owner is 100% liable for business debts
Equity is limited to the owner’s personal resources
Ownership of proprietorship is difficult to transfer
No distinction between personal and business income
The law does not afford protection to the personal assets of the
entrepreneur from claims against his business.
Short Term
EXAMPLES OF SOLE PROPRIETORSHIP: Private Tutors, Farms, Small
Shops, Barber Shops, Sari-Sari Stores, Auto-Repair Shops, Youtubers etc.
PARTNERSHIP
Two or more people share ownership of a single business. Like
proprietorships, the law does not distinguish between the business and
its owners. The Partners should have a legal agreement that sets forth
how decisions will be made, profits will be shared, disputes will be
resolved, how future partners will be admitted to the partnership, how
partners can be bought out, or what steps will be taken to dissolve the
partnership when needed.
Figure 1. Sole Proprietorship Organizational Structure. You as the owner have
all the responsibilities for your business operations.
2. TYPES OF PARTNERSHIPS
1. General Partnership. Partners divide responsibility for
management and liability, as well as the shares of profit or loss
according to their internal agreement. Equal shares are assumed
unless there is a written agreement that states differently.
Example: Let's say that Dottie and Dave decide to open a clothing
store. They decide to name the store D.D.'s Duds. Dottie and Dave
don't need to do anything special in order to form a general
partnership. Once Dottie and Dave agree to form the business, it's
automatically considered to be a general partnership.
2. Limited Partnership and Partnership with Limited Liability .
A limited partnership is a business partnership where at least one
owner is a general partner and at least one owner is a limited
partner. The general partners make everyday business decisions
and are personally liable for business debts. However, the limited
partners simply invest in the business and have little control over
business operations.
Example: Ben, Brandi and Bob are partners in owning and running
a bookstore. They own The Book Nook. Per their partnership
agreement, Ben and Brandi are limited partners. They are investors
in the store. They each gave P50,000 to establish the store. Bob is a
book expert, so he runs the store. Bob is a general partner. Note that
all the partners will be considered general partners unless there's a
written agreement between the partners stating otherwise.
3. Joint Venture. Acts like a general partnership, but is clearly for
a limited period of time or a single project. If the partners in a joint
venture repeat the activity, they will be recognized as an ongoing
partnership and will have to file as such, and distribute
accumulated partnership assets upon dissolution of the entity.
Example: The joint venture partnership between an event organizer
and catering, and lightings services providers for a single event like
a wedding for a one day.
ADVANTAGES OF PARTNERSHIP
Shared resources provide more capital for the business
Each partner shares the total profits of the company
Similar flexibility and simple design of a proprietorship
Inexpensive to establisha business partnership, formal or informal
DISADVANTAGES OF PARTNERSHIP
Each partner is 100% responsible for debts and losses
Selling the business is difficult—requires finding new partner
Partnership ends when any partner decides to end it.
Quarrels between partners may occur
Unlimited Liabilities
Short term
Figure 2. Partnership Organizational Structure.
3. EXAMPLES OF PARTNERSHIP: Legal Services Providers, CPA Services,
Doctors’ Offices, Small Shops with 2 or more owners in partnership
agreement
CORPORATION
A corporation is owned by several people, called shareholders,
and has a personality separate and distinct from them. Shareholders
are responsible for the debts of the corporation only up to the extent of
their capital contribution. Corporations can either be stock or non-stock
and are controlled by the Board of Directors or Trustees. Registration of
corporations is with the SEC.
Corporations are, for tax purposes, separate entities and are
considered a legal person. This means, among other things, that the
profits generated by a corporation are taxed as the “personal income” of
the company. Then, any income distributed to the shareholders as
dividends or profits are taxed again as the personal income of the owners.
A corporation is an artificial being created by operation of law,
having the right of succession and the powers, attributes and properties
axpressly authorized by law or incident to its exixtence.
-The Corporation Code of the Philippines
As a rule, corporations cannot enter into partnerships with one
another but they are allowed to enter into joint ventures.
Corporate structure refers to how a business is organized to
accomplish its objectives. The corporate structure of a business is
important because it determinesthe ownership, control, and authority of
the organization. In a corporation, these characteristics are represented
by three groups: shareholders,directors, and officers. Ownershipbelongs
to the shareholders. Control isexercised by the board of directorson behalf
of the shareholders, while authority over the day-to-day operations is
vested in the officers.
ROLES AND RESPONSIBILITIES OF SHAREHOLDERS, DIRECTORS
AND OFFICERS
SHAREHOLDERS
In a corporation, a group of shareholders have shared
ownership, represented by holding shares of common stock. Most
business corporations are established with the goal of providing a
return for its shareholdersin the form of profits. Shareholders have
the right to share in the profits of the business but are not
personally liable for the company's debts. This concept is known
Figure 3. Corporation Organizational Structure.
4. as limited liability and is one of the main advantages of the
corporation as a form of doing business.
BOARD OF DIRECTORS
The board of directors is responsible for overseeing and
directing the businessof the corporation in the best interest of the
shareholders. The key point here is oversight; the board is not
expected to actually operate the business. Rather, its purpose is to
oversee operations, approve major plans, and monitor financial
performance.The chairmanof the board is technically the leader of
the corporation, responsible for running the board effectively. The
chairman is usually elected from the board of directors. The
chairman's duties include maintaining strong relationships and
open communication with the chief executive officer and other
executives, formulating business strategy, and representing the
company's management and board to the general public and
shareholders.
CEO, CFO AND COO
The CEO makes all the major decisionsfor the company and
also functions as the company representative for the media and
public. At some companies, depending on the size and structure,
the CEO also holds the title of president, or founder, and might also
be the chairperson of the board of directors. The CFO, or Chief
Financial Officer, only oversees the financial operations of a
company and reports to the CEO. The COO, or Chief Operations
Officer, oversees the day-to-day administrative and operational
functions of a company and also reports to the CEO.
ADVANTAGES OF CORPORATION
Shareholders have limited liability for the corporation’s debts or
judgments against the corporation.
Generally, shareholders can only be held accountable for their
investment in stock of the company. (Note however,that officers
can be held personally liable for their actions, such as the failure
to withhold and pay employment taxes.
Corporations can raise additional funds through the sale of stock.
A Corporation may deduct the cost of benefits it provides to
officersand employees.
Long term
DISADVANTAGES OF CORPORATION
The process of incorporation requires more time and money than
other forms of organization.
Corporations are monitored by federal, state and some local
agencies, and as a result may have more paperwork to comply with
regulations.
Incorporating may result in higher overall taxes. Dividends paid to
shareholders are not deductible from business income; thus this
income can be taxed twice.
EXAMPLES OF CORPORATION: PepsiCo, Microsoft, IKEA, FedEx, eBay,
Jollibee Food Corporations, Universal Robina Corporations, Nestle
Corporations etc.
5. HYBRID ORGANIZATION
Hybrid organization is one that mixes elements, value systems and
action logics (e.g. social impact and profit generation) of various sectors
of society,i.e.the public sector, the private sector and the voluntary
sector. A more general notion of hybridity can be found in Hybrid
institutions and governance.
According to previous research organizations under hybrid
between public and private spheresconsist of following features:
1. Shared ownership
2. Goal incongruence and different institutional logics in
the same organization
3. Variety in the sourcesof financing
4. Differentiated forms of economic and social control
A hybrid organizational structure is a framework that employs
multiple reporting structures in the organization. A hybrid form of
organization,for example,is created by combining functional and product
structures. Employees are required to work on many projects and report
to multiple managers under a hybrid organizational structure.
Example A: An engineer working on a project should, in an ideal world,
report to his project manager. In the hybrid management structure, however,
the engineer may be invited to work on another project for a limited time if a
need develops, resulting in a situation in which he reports to both project
managers.
Example B: Starbucks is an example of a hybrid organizational structure.
Starbucks implements a mix of three organizational structures: functional
structure, geographical structure and product-based structure. Starbucks
has functional departments such as finance, marketing and human
resources.
Other examples of Hybrid Organizations:
Figure 5. Hybrid Organization Structure