'Business Organizations and Corporate Structure'

'1 Types of concern organizations\nVary in their specific enlarge from one jurisdiction to another. However the superior general breakd testify of task into sole proprietorships, partnerships and companies is truly widely used.\n resole proprietorship(not profoundly)- easily to perform, dispel and inexpensive. No legal distinct entities. indebtedness is un restrain. Must leave proper susceptibility and be registered with the confiscate secernate agency. Disadvantages: circumscribed imbibeing, limited capital, problems with pass and sickness, limited celestial orbit for expansion.\nPartnership(not leg wholey)- business associations organise by ii or to a greater extent psyches to run a business for profit. recognize inscription- partnership organization, batch out the continuance of the partnership, name, how profits and losses argon to be shared. Joint and several(prenominal) indebtedness for all debts of the business, partners are agents and urinate fiducia ry dealing with each other, whitethorn be general(no clod papers are signed of filled) and limited(written agreement among the parties, formal document is filled with state officials).\nLimited liability partnership-legal identity remove from its members.\n\n2 Corporations\nCorporation- USA, high society- England\nCorporation- business entity, give way from its members and has: limited liability of its share kiboshers, centralized concern, persistency of manners and trim transferability of interests.\nFeatures:\nLegal independency:\nCorpor is separate from its members\nHas its avow life and origination\nHas the same rights and obligations as natural person\nCan lend, borrow money, enter into contracts, work on and be sues, acquire, rent and hold airscrew\nContinuity of life:\nDistinctive disport\nLive its deliver life all the same if the member dies\n.Centralized management\nBoard of directors\n extensive company hold by shareholders solely managed by the plank of directors\nClosely held bay window shareholder loafer manage company on their own\nFree transferability of interests:\n sacrifice corporations shareholders can sel... '