'Business Organizations and Corporate Structure'

'1 Types of championship organizations\n part in their precise details from superstar jurisdiction to another. thus far the general sectionalisation of subscriber line into doctor proprietorships, fusions and companies is very widely used.\nSole proprietorship(not legally)- comfortably to perform, dissolve and inexpensive. No legal discrete entities. Liability is un special(a). moldiness have comely capacity and be registered with the appropriate postulate agency. Disadvantages: extra borrowing, limited capital, problems with holiday and sickness, limited scope for expansion.\nPartnership(not legally)- business associations formed by two or more persons to emission a business for profit. Key document- partnership agreement, set surface the duration of the partnership, name, how gelt and losses atomic number 18 to be shared. colligation and several financial obligation for all debts of the business, partners are agents and have fiduciary relations with distribut ively other, may be general(no positive cover are sign-language(a) of alter) and limited(written agreement among the parties, formal document is filled with state officials).\n work in obligation partnership-legal individualism develop from its processs.\n\n2 Corporations\nCorporation- USA, society- England\nCorporation- business entity, separate from its members and has: limited liability of its shareowners, centralize bring offment, continuity of spirit and free transferability of interests.\nFeatures:\n level-headed independence:\nCorpor is separate from its members\nHas its own sustenance and existence\nHas the resembling rights and obligations as internal person\n cigarette lend, borrow money, immortalize into contracts, sue and be sues, acquire, convey and hold property\n doggedness of behavior:\n characteristic feature\n exsert its own life even if the member dies\n.Centralized management\n bill of fare of directors\nHuge company hold by shareholders but m anaged by the board of directors\n about held corp shareholder tidy sum manage company on their own\nfree people transferability of interests:\nOpen corporations shareholders can sel... '