Business Organizations and Corporate Structure

1 Types of art organizations\nVary in their circumstantial details from one statutory power to another. However the general equipment failure of agate line into sole proprietorships, partnerships and companies is precise widely used.\nSole proprietorship(not leg bothy)- soft to perform, dissolve and inexpensive. No legal distinct entities. Liability is unlimited. must(prenominal) have proper efficacy and be registered with the appropriate secern agency. Disadvantages: limited borrowing, limited capital, problems with vacation and sickness, limited scope for expansion.\nPartnership(not legally)- business associations formed by devil or more somebodys to natural spring a business for profit. depict document- partnership pact, set come in the duration of the partnership, name, how profits and losses are to be shared. join and several obligation for all debts of the business, partners are agents and have fiducial relations with each other, whitethorn be general(no forma l papers are signed of fill) and limited(written agreement among the parties, formal document is filled with state officials).\nLimited liability partnership-legal identity name from its members.\n\n2 Corporations\nCorporation- USA, caller-out- England\nCorporation- business entity, separate from its members and has: limited liability of its shareholders, centralized centering, pertinacity of purport and free transferability of interests.\nFeatures:\n ratified independence:\nCorpor is separate from its members\nHas its profess life and existence\nHas the aforementioned(prenominal) rights and obligations as natural person\nCan lend, borrow money, innovate into contracts, sue and be sues, acquire, commune and hold property\n tenacity of life:\nDistinctive distinction\nLive its own life even if the member dies\n.Centralized management\nBoard of directors\nHuge company hold by shareholders entirely managed by the board of directors\n most held corp shareholder nominate ma nage company on their own\nFree transferability of interests:\n unresolved corporations shareholders can sel...