my long term goals

Topics: Corporation, Limited liability company, Types of companies Pages: 4 (1096 words) Published: April 2, 2014
A)Features of an enterprise under VN law ( as compared to the US ) _ VietNam same US:
1/ Each enterprise must have its puper name.
It must be printed or written on transaction papers, documents, materials and printed matters issued by the enterprise. 2/ Each enterprise must have property
3/ Each enterprise must have its head office.
It must have a definite address, telephone and email address 4/ Business registration,Enterprise must carry out formalities which law ask to be able to establish legally, have its purpose is seeking profit.

B) Classification of enterprise
VN law:
_Based on legal forms:
+ Limited liability company with more than one member
+ Sole member limited company
+ Shareholding company
+ Partnership
+ Sole proprietorship
+ State – owned enterprise
+ Cooperative
+ Foreign invested company
_ Based on liability
+ Unlimited liability companies ( Sole proprietorship and Partnership ) + Limited companies: limited liability, shareholding companies, state-owned enterprise, cooperatives, joint-rentures and percent foreign invested companies _ Based on legal person status:

+ Sole proprietorship does not have its status as a legal person ( due to its dependence with owner) US law:
_ Based on the number of owners, the formality on setting up the business send potential for personal liability + Sole proprietorship
+ Partnership
+ Corporation
C/ Liability of a sole proprietor/private enterprise owner under VN law as to debt and financial obligations of a sole proprietorship/private enterprise (compared to US law) A private enterprise owner is financially liable for the debts of the business with all of his/her assets. This means that if the business fails, the owner of the private enterprise has to use his personal assets (money, house, land, car, etc.) to pay back the debts of the private enterprise. Because proprietor is unique owner. About financial obligations, not only sole proprietorship but also all enterprises must register...
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