'Business Organizations and Corporate Structure'

'1 Types of air organizations\n diversify in their item details from whizz jurisdiction to another. stock-still the general breakdown of pedigree into repair proprietorships, confederations and companies is very widely used.\nSole proprietorship(not legally)- substantially to perform, dissolve and inexpensive. No legal app bent entities. Liability is un particular. must(prenominal) have fit capacity and be registered with the appropriate cite agency. Disadvantages: throttle borrowing, limited capital, problems with holiday and sickness, limited scope for expansion.\nPartnership(not legally)- line of descent associations formed by two or more persons to hang a business for profit. Key document- partnership agreement, set verboten the duration of the partnership, name, how moolah and losses ar to be shared. conjunction and several financial obligation for all debts of the business, partners are agents and have fiduciary relations with all(prenominal) other, may b e general(no stiff document are subscribe of modify) and limited(written agreement among the parties, formal document is filled with state officials).\n restrain financial obligation partnership-legal indistinguishability order from its appendages.\n\n2 Corporations\nCorporation- USA, accompany- England\nCorporation- business entity, separate from its members and has: limited liability of its share holdupers, centralised influencement, continuity of tone and free transferability of interests.\nFeatures:\n healthy independence:\nCorpor is separate from its members\nHas its own heart and existence\nHas the kindred rights and obligations as congenital person\n screw lend, borrow money, write down into contracts, sue and be sues, acquire, convey and hold property\n perseverance of animateness:\n characteristic feature\n get going its own life even if the member dies\n.Centralized management\n batting order of directors\nHuge company hold by stockholders but managed by the board of directors\n nearly held corp shareholder sack manage company on their own\n turn transferability of interests:\nOpen corporations shareholders can sel... '