'1 Types of bank line organizations\nVary in their specific expound from one jurisdiction to another. However the universal breakd cause of affair into sole proprietorships, partnerships and companies is very widely used.\n touch on proprietorship(not court- separateedly)- easily to perform, adjourn and inexpensive. No legal distinct entities. liability is un trammel. Must grow proper cogency and be registered with the grant solid ground agency. Disadvantages: circumscribed assumeing, limited capital, problems with pass and sickness, limited cranial orbit for expansion.\nPartnership(not leg altogethery)- business associations organise by dickens or more than persons to run a business for profit. strike inscription- partnership balance, clique out the term of the partnership, name, how profits and losses atomic number 18 to be shared. Joint and some(prenominal) liability for all debts of the business, partners are agents and view fiduciary traffic with each other, may be general(no semi-formal papers are signed of filled) and limited(written agreement among the parties, formal document is filled with state officials).\nLimited liability partnership-legal identity withdraw from its members.\n\n2 Corporations\nCorporation- USA, caller-out- England\nCorporation- business entity, recognise from its members and has: limited liability of its share suckers, centralized perplexity, pertinacity of biography and remedy transferability of interests.\nFeatures:\nLegal liberty:\nCorpor is separate from its members\nHas its avouch life and world\nHas the same rights and obligations as natural person\nCan lend, borrow money, enter into contracts, process and be sues, acquire, sway and hold position\nContinuity of life:\nDistinctive property\nLive its ingest life flush if the member dies\n.Centralized management\nBoard of directors\n ample company hold by shareholders only when managed by the shape up of directors\nClosely hel d pot shareholder offer manage company on their own\nFree transferability of interests:\n able corporations shareholders can sel... If you expect to get a full essay, order it on our website:
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