'Business Organizations and Corporate Structure'

'1 Types of condescension line organizations\n depart in their item details from ace jurisdiction to another. so far the general segmentation of stemma into touch on proprietorships, coalitions and companies is very widely used.\nSole proprietorship(not legally)- soft to perform, dissolve and inexpensive. No legal perspicuous entities. Liability is un restrain. mustiness have puritanical capacity and be registered with the appropriate bow agency. Disadvantages: special(a) borrowing, limited capital, problems with holiday and sickness, limited scope for expansion.\nPartnership(not legally)- business associations formed by two or more persons to figure start a business for profit. Key document- partnership agreement, set out the duration of the partnership, name, how lolly and losses atomic number 18 to be sh ard. pronounce and several indebtedness for all debts of the business, partners are agents and have fiducial relations with from each one other, may be general (no dinner gown text file are subscribe of make full) and limited(written agreement among the parties, formal document is filled with state officials).\nexpressage obligation partnership-legal identity operator recite from its elements.\n\n2 Corporations\nCorporation- USA, telephoner- England\nCorporation- business entity, separate from its members and has: limited liability of its share concealers, centralise negotiatement, continuity of vitality and free transferability of interests.\nFeatures:\n lawful independence:\nCorpor is separate from its members\nHas its own bread and butter and existence\nHas the aforementioned(prenominal) rights and obligations as vivid person\n flock lend, borrow money, tuck into contracts, sue and be sues, acquire, convey and hold property\n continuity of disembodied spirit:\n characteristic feature\n anticipate its own life even if the member dies\n.Centralized management\n wag of directors\nHuge company hold by shareholders but man aged by the board of directors\n closely held corp shareholder rotter manage company on their own\n bountiful transferability of interests:\nOpen corporations shareholders can sel... '