Legal aspects of business
There are several forms of business
organizations which include the sole proprietorship, the partnership; joint
stock companies the cooperatives and the joint ventures.
Sole Proprietorship
This is the simplest form of
business organization. A sole
trader or a sole proprietor owns the business alone. He pools and organizes the
resources in a systematic way and controls the activities with the sole
objective of earning profit. He provides all the necessary capital and
other resources alone. continue reading
Partnerships
A partnership is a relationship that
exists between two or more persons jointly carrying out a business with the
objective of making a profit. Each of the persons is called a partner and the
business is referred to as a firm.
A number of people work together
and there is no separate identity of the partnership from individual partners...continue reading
Companies
A joint stock company refers to a
corporate association of a number of people for some common object or objects.
The members of a joint stock company contribute capital to form a common stock
to carry on a business usually for profit.
A joint stock company is a
corporate body i. e. it is created under the law and has an entity of its own
quite separate form members who own it. Continue reading
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