2. Nature & Meaning
β’ An association of like-minded persons formed for
the purpose of carrying on some business or
undertaking.
β’ It denotes a joint stock enterprise in which the
capital is contributed by a large number of people.
3. Characteristics
β’ Corporate Personality
β’ Limited Liability
β’ Perpetual Succession
β’ Separate Property
β’ Transferability of Shares
β’ Common Seal
β’ Limitation of Action
β’ Separate Management
β’ Termination of its Existence
4. Types of Business Organisations
Non Corporate
β’ Proprietorship
β’ Collective Ownership
β’ Partnership
5. Types of Business Organisations
Corporate
β’ Reg. Companies
β’ Pvt. Ltd. Companies
β’ Pub. Ltd. Companies
β’ Govt. Companies
7. On the Basis of Incorporation
β’ Chartered Companies
β’ Statutory Companies
β’ Registered Companies
8. On the Basis of Liability
β’ Unlimited Companies
β’ Companies limited by Guarantee
β’ Companies limited by shares
β’ Companies limited by shares and Guarantee
9. On the Basis of Membership
β’ Private Company
β’ Public Company
β’ Holding Company
β’ Subsidiary Company