Types of companies Essays & Research Papers

Best Types of companies Essays

  • Types of Companies - 6521 Words
    1.1 INTRODUCTION Industrial has revolution led to the emergence of large scale business organizations. These organization require big investments and the risk involved is very high. Limited resources and unlimited liability of partners are two important limitations of partnerships of partnerships in undertaking big business. Joint Stock Company form of business organization has become extremely popular as it provides a solution to (2) overcome the limitations of partnership business. The...
    6,521 Words | 20 Pages
  • Types of Legal Entities/Companies
    COMPANIES Starting a business in India requires one to choose a type of business entity. In India one can choose from five different types of legal entities to conduct business. These include Sole Proprietorship, Partnership Firm, Limited Liability Partnership, Private Limited Company and Public Limited Company. The choice of the business entity is dependent on various factors such as taxation, owner liability, compliance burden, investment and funding and exit strategy. Lets look at each of...
    1,032 Words | 4 Pages
  • Types of Businesses and Company Registrations
    Sole proprietorship This business is an individual owned organization. This business is the most attractive because of its simplicity and control over the business. * Liability-.This business has unlimited liability. The owner is responsible for everything. If the business begins to fail personal assets and business assets can be sought after to pay off debts. There is no distinction between the two assets. * Income taxes- Business owners in a sole proprietorship file a 1040 as well as...
    1,272 Words | 4 Pages
  • Types of Companies and Corporation - 290 Words
    Required: a. Identify significant tax and nontax issues or concerns that may differ across entity types. b. Provide your recommendation for forming CCS as a C corporation, S corporation, LLC, or partnership. Explain your reasoning for your choice of entity, identify any issues that you may still be concerned about, and suggest recommendations for dealing with the concerns. Chapter 19 Problem 39 (LO2) Zhang incorporated her sole proprietorship by transferring inventory, a building, and...
    290 Words | 2 Pages
  • All Types of companies Essays

  • Business: Types of Companies and Sole Proprietorship
    BB003 Chapter 05 Choosing a Form of Business Ownership True / False Questions 1. The corporation is the most common form of business ownership. True False 2. The three major forms of business ownership in the U.S. are sole proprietorships, partnerships, and corporations. True False 3. Few people today start their own business. True False 4. Once a business is established, it's almost impossible to change from one form of business ownership to another. ...
    3,760 Words | 14 Pages
  • TYPES OF ORGANISATION - 1019 Words
    TYPES OF ORGANISATION QUIZ 1) Which form of business organization do you think is most suitable for each of the following businesses? Explain your answer fully: a) A young student is planning to offer his services to neighbors as a gardener. He will purchase only cheap tools to start with. (3) The sole trader form is most suitable for this business, because sole trader is most common form- operated just by one person, and this business is running only by a young student, which is only one...
    1,019 Words | 3 Pages
  • Types of Business - 671 Words
    Sole Proprietorship When entrepreneurs set out to start a business venture, many of them start with a sole proprietorship. A sole proprietorship usually involves a single person who runs a business on his or her own. Sole proprietorships are small businesses that often take off to form larger business entities when the owner desires to do so or when the right opportunities are presented. Some of the disadvantages of having a sole proprietorship are the simplicity of operating the business,...
    671 Words | 2 Pages
  • Partnership and Its Types - 1631 Words
    Partnership and Its Types Sir Saleem Abbas 10/10/2012 Islamia university of bahawalpur Partnership A partnership arises whenever two or more people co-own a business, and share in the profits and losses of the business. Each person contributes something to the business -- such as ideas, money, or property -- though management rights and personal liability will vary. In Pakistan the partnership firms are registered...
    1,631 Words | 5 Pages
  • Types of Organisation - 268 Words
    SECTION 1 *Identification of the purpose of different types of organisation We have two main types of business organisations. Which are Profit-making organisations and Not-for-profit organisations. In the profit making organisation, we have the Sole traders, Partnerships and LLPs, Companies and The Franchises. While on the Not-for-profit organisation we have the Quangos, Voluntary, public sector bodies and the charities. *SOLE TRADER- This is a simple business that is easy to set up, and...
    268 Words | 1 Page
  • Type of Organization - 1744 Words
    Types of Business Organisation GCSE Business Studies tutor2u™ Revision Presentations 2004 Introduction A business is always owned by someone. This can just be one person, or thousands. So a business can have a number of different types of ownership depending on the aims and objectives of the owners. Most businesses aim to make profit for their owners. Profits may not be the major objective, but in order to survive a business will need make a profit in the long term. Some organisations...
    1,744 Words | 10 Pages
  • types of business - 1424 Words
     Sole trader – Definition: A sole trader is a company started and run by one individual A sole trader - also known as a sole proprietorship or simply proprietorship - is a type of business entity which is owned and run by one individual and where there is no legal distinction between the owner and the business. Sole trading is widespread- A very large proportion of business conducted in the UK is undertaken by the trader working on his own usually providing his own money (capital) to...
    1,424 Words | 6 Pages
  • Limited Companies - 336 Words
    Limited Companies In order to set up a limited company, you must firstly set up the company with Companies House and let HM Revenue and Customs (HMRC) know when the company starts its business. Every financial year the company must: Put together statutory accounts Send Companies Home an annual return Send HMRC a tax return The company must register for VAT if you expect its takings to be more than £81,000 per year. If you’re a director of a company you must: Fill in a Self-Assessment tax...
    336 Words | 2 Pages
  • Company Law - 2246 Words
    Company Law – An Introduction Unit Code: DE5H 35 Outcome 1 Melissa Mackenna-500006315 Context Within this report you will find: 1.1. Introduction 1.2. Terms of Reference 1.3. Sole Traders 1.4. Partnerships 1.5. Corporate Bodies 1.5.1. Private Limited Companies 1.5.2. Public Limited Companies 1.6. Conclusion 1.7. Recommendations 1.8. Appendix 1.1. Introduction The aim of this report is to: Describe the differences in legal personalities and responsibilities...
    2,246 Words | 7 Pages
  • Company Law - 3931 Words
    Question 1 All business organizations in Singapore with the intent of profit generation are categorized under two main types of corporations, either unincorporated or incorporated. The law treats each entity differently. Unincorporated Entities Unlike the incorporated entities, an unincorporated entity business does not have separate legal personality. The law does not separate the people who establish the business and the business itself. In other words, the rights and liabilities of the...
    3,931 Words | 11 Pages
  • Company Law - 33842 Words
    THE LAW OF BUSINESS ASSOCIATIONS Class Notes by T. Mweseli © 2004 University of Nairobi Section 2 (1) of the Companies Act Cap 486 Laws of Kenya states what company means as 'a company formed and registered under this Act or an existing company. This is a very vague definition, in the statute the word company is not a legal term hence the vagueness of the definition. The legal attributes of the word company will depend upon a particular legal system. In legal theory company denotes...
    33,842 Words | 101 Pages
  • Formation of a Company - 7989 Words
    1 FORMATION AND INCORPORATION OF COMPANIES L Meaning of Company L Advantages of Certificate of Incorporation L Characteristics or Essential Features of a Company L Effect of Certificate of Incorporation L Floatation of Company L Types of Companies • Chartered Companies L Certificate of Commencement of Business • Statutory Companies L Memorandum of Association • Registered Companies L Contents of Memorandum of Association L Introduction Companies Limited by...
    7,989 Words | 39 Pages
  • Limited Companies - 347 Words
    Question 3 Title: Explain the key features of limited companies A limited company is a business that is owned by its shareholders, run by directors and most importantly the company liability is limited. Limited liability means the investors cannot held personally liable for the company's loses. This encourages people to finance the company, and/or to set up such a business, they know that they can only lose what they put in, if the company fails. For people or businesses who have a claim...
    347 Words | 1 Page
  • Formation of a Company - 1640 Words
    FORMATION OF A COMPANY I. Promotion : Refers to the entire process by which a company is brought into existence. It starts with the conceptualisation of the birth a a company and determination of the purpose for which it is to be formed. The persons who conceive the company and invest the initial funds are known as the promoters of the company. The promoters enter into preliminary contracts with vendors and make arrangements for the preparation, advertisement and the circulation of...
    1,640 Words | 5 Pages
  • Company Audit - 2354 Words
    • A legal entity, allowed by legislation, which permits a group of people, as shareholders, to apply to the government for an independent organization to be created, which can then focus on pursuing set objectives, and empowered with legal rights which are usually only reserved for individuals, such as to sue and be sued, own property, hire employees or loan and borrow money. • A voluntary association formed and organized to carry on a business. Types of companies include sole...
    2,354 Words | 8 Pages
  • P1 for company - 424 Words
    Smart Architectural Aluminium Smart Systems Range – National Locally based in Yatton, North Somerset, in an impressive 30,000sq/m purpose built building housing their offices, extrusion press, powder coating paint line and distribution facilities. With national distribution service Smart Systems are one of the UK’s leading aluminium systems and suppliers of bespoke extrusion with a reputation for product innovation, design expertise, technical competence and quality. Business sector...
    424 Words | 2 Pages
  • Companies Act 2001 - Rules for Companies
    THE COMPANIES ACT 2001 Act No. 15 of 2001 I assent CASSAM UTEEM 6 June 2001 President of the Republic ________________ ARRANGEMENT OF SECTIONS Section PART I – PRELIMINARY |1. |Short title | |2. |Interpretation | |3....
    97,694 Words | 424 Pages
  • Company Act - 216395 Words
    The Companies Act, 1956 Sec 1 Short title, and commencement (1) This Act may be called the Companies (Amendment) Act, 2000. (2) The provisions of this Act, other than sections 7 and 75, shall come into force at once and sections 7 and 75 shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint. Sec 2 Definitions In this Act, unless the context otherwise requires, (1) "abridged prospectus" means a memorandum containing such salient...
    216,395 Words | 540 Pages
  • LIMITED COMPANY - 1019 Words
     LIMITED COMPANY A limited company is incorporated under the Company Act 1965. it can be : 1. Limited company by guarantee 2. Limited company by share a ) Private limited company ( Sdn. Bhd. ) b ) Foreign Limited company 3. Unlimited company PRIVATE LIMITED COMPANY What is a Private Limited Company? Private Limited company is a company limited by shares, and this type of Company cannot be publicly traded. A Private Limited Company, sometimes simply called a Limited company, is the most...
    1,019 Words | 5 Pages
  • Formation of a Company - 2206 Words
    Assignment On FORMATION OF COMPANY AND PUBLIC & PRIVATE LTD COMPANY SUBMITTED BY: Sadia Kamal Shifa Roll No: Course: SUBMITTED TO: FORMATION OF COMPANY: A joint stock company is a company whose capital is divided into shares and the liability of whose shareholders is limited to the par value of the shares respectively held by them. Joint stock companies fall under two distinctive categories. The first category consists of a company whose promoters secure a portion of its...
    2,206 Words | 7 Pages
  • Company Law - 59121 Words
    Paper F4 (ENG) CHAPTER Corporate and business law 8 Companies and legal personality Contents 1 2 3 The features of a limited company Types of company Advantages and disadvantages of incorporation: the veil of incorporation © EWP Go to www.emilewoolfpublishing.com for Q/As, Notes & Study Guides 199 Paper F4: Corporate and business law (English) The features of a limited company Comparison of companies with other forms of business The meaning of separate legal...
    59,121 Words | 195 Pages
  • Company Law - 14500 Words
    CHAPTER 1: BUSINESS ORGANIZATIONS 1. What are three types of business organizations? i. Sole Proprietorship - One man is in business for himself - No special rules governing sole proprietorship, - Treated no differently from anyone else at law - Use own to resources to provide skill, labor, capital, and other resources to run the business - Unlimited liabilities - Registered under Registration of Business Act...
    14,500 Words | 47 Pages
  • scenerio of company - 480 Words
    Scenario of company limited by shares Joseph forms a company limited by shares which he representing a sole shareholder and sole director of the limited company while Germany has been employed as the secretary of the limited company. Joseph agrees to subscribe 2 shares in the company and he had made the full payment. During the business operations, the limited company earns profit initially. After few years, declines in demand of their products caused the company started to make severe losses...
    480 Words | 2 Pages
  • Company Law - 21211 Words
    |BUSINESS ENTITY | | | | | | | | | | | |Sole Proprietorship |Partnership...
    21,211 Words | 66 Pages
  • Formation of company - 21473 Words
    CORPORATE ENVIRONMENT Unit 1 FORMATION OF COMPANY Promotion of Company – Promotion – Incorporation – Capital Subscription and Certificate of Commencement of Business. Memorandum of Association – Definition – Clauses. Articles of Association – Definition – Contents – Distinction between Memorandum of Association and Articles of Association – Alteration of Memorandum of Association and Articles of Association. Prospectus – Meaning – Contents – Statement in Lieu of Prospectus....
    21,473 Words | 77 Pages
  • company ordinance - 1173 Words
    Companies Ordinance, 1984 Provided that, before a licence is so revoked, the Commission shall give to the association notice in writing of its intention, and shall afford the association an opportunity of submitting a representation in opposition to the revocation. COMPANIES LIMITED BY GUARANTEE 43. Provision as to companies limited by guarantee.- (1) In the case of a company limited by guarantee and not having a share capital, every provision in the memorandum or articles or in any...
    1,173 Words | 5 Pages
  • Differential Factors Between Private Companies and Public Companies
    Yaqi Qiu MAC-501 Professor Beckman December 10, 2012 Differential Factors Between Private Companies and Public Companies Generally speaking Financial Accounting Standard Board (FASB)’s primary purpose is to develop General Accepted Accounting Principles (GAAP). GAAP might not concern the whole areas of accounting criteria, FASB look up and adjust accounting standard to make sure standards have been updated to follow current situation. On July 31, 2012, FASB issued an Invitation to...
    1,580 Words | 5 Pages
  • Types of Business in America - 427 Words
    Types of Businesses in America American society has always been optimistic towards their future. The American nation is a capitalistic country. Many individuals are influenced to start up their own businesses with their own ideas. The government helps and regulates all business. There are three types of businesses sole proprietorships, partnerships and corporations. A sole proprietorship would be my best choice to start up my own business. This form of business is the easiest to start. In...
    427 Words | 2 Pages
  • Types of Business Ownership - 1058 Words
    1. Sole Proprietorship Single proprietorship is the simplest form of organization in most of the countries in the world. Unlike other forms of entity, it is usually not governed by special laws. A proprietorship is a type of business entity which legally has no separate existence from its owner. Hence, the limitations of liability enjoyed by a corporation and limited liability partnerships do not apply to sole proprietors. All debts of the business are debts of the owner. The single proprietor...
    1,058 Words | 4 Pages
  • Types of business entity - 1463 Words
    What is the most effective type of business entity? Introduction: There exists a range of types of business entities, some of which could be more successful than others. It is definite that different legal structures of business operate and make decisions in various ways. This text suggests patterns for organizing the entrepreneurial examples in order to see what type of business is the most effective. It could be included three common types of business entities——sole proprietor, partnership...
    1,463 Words | 4 Pages
  • Business Ownership Types - 2034 Words
    There are different types of ownership within the business sector.

    Sole tradership is when the business is fully owned and managed by one person, though others can be employed to help run the business. As the sole traders only financial income is from the business and/or bank loan, they do not have the resources to expand and cover regional or national areas. These types of businesses are located in the small business sector and usually cover local areas. Such businesses could be...
    2,034 Words | 6 Pages
  • Types of Business Forms - 1796 Words
    How to choose the right type of Business form LAW/531 How to choose the right type of Business form Today’s business world has many choices for the new entrepreneur to decide from when forming a business. The choices are sole proprietorship, partnership, limited liability partnership, a limited liability company, a S corporation, a franchise, and a corporate form. Development of scenarios portraying each of these forms of business will aid the entrepreneur with deciding which form...
    1,796 Words | 5 Pages
  • Difference Between Public Company and Private Company
    DIFFERENCE BETWEEN PRIVATE COMPANY AND PUBLIC COMPANY PRESENTED BY: DEBASIS BEHERA REGD NO:10HM08 What is company?  An association of persons who contribute money or money’s worth towards a businessLord Lindley.  Voluntary association formed and organized to carry on a business in the legal name of the association.  Company formed and registered under company act. What is private company? Business firm in the private (non-public) sector of an economy, controlled and operated by...
    517 Words | 3 Pages
  • identify 4 types of ownership
    Franchise A franchise is a large international business and examples of franchises are: McDonalds, Kfc, and Topshop. The advantages of owning a franchise • Owning a franchise lets you go into the world of business for yourself, but you won’t be by yourself. • The franchise you chose to open provides you with a certain level of independence where they can operate their business. • Opening a franchise provides you with customers that already enjoy the widespread brand-name and that benefits...
    879 Words | 3 Pages
  • Types of Business Ownership - 1083 Words
    The sole proprietorship is the simplest form of business organization. A sole proprietorship is a business that is owned by an individual who is solely responsible for all aspects of the business. The owner is personally responsible for all debts of the business, even in excess of the amount invested. The business and its owner are thus considered the same entity. The advantages of a sole proprietorship include: a. Low start up costs, as legal and filing fees are at a minimum. However, many...
    1,083 Words | 4 Pages
  • Business Types of Ownership - 1007 Words
    Business Types of Ownership Before starting any venture it is very important to figure out how the organization is going to build its chain of command. Basically no business is made for short time and for this reason a very careful measurement should be done on ownership. Choosing the appropriate ownership in an organisation depends on nature of business, type of authority, delegation of work, span of organization, type of product, production and operation, legal procedure, financial matters...
    1,007 Words | 4 Pages
  • Type of Business in Malaysia - 445 Words
    Type of business in Malaysia In Malaysia the most common types of businesses are sole proprietorships, partnerships, private limited companies, corporation. Firstly, Sole Proprietorships have only one business owner and only Malaysian citizens or permanent residents can register. Personal names or trade names can be used as business names. The Application of Business Name form must be filled in before a business can be registered. Some names like those associated with government agencies or...
    445 Words | 2 Pages
  • Types of Organization in the Private Sector
    Task 1: Written Report Submission date: 08/04/2013 The learner has been given a position of business coordinator at EUCC who will study Environments by using the tools and techniques for the purpose and demonstrate his/her Understanding of the concepts. 1.1 Identify the purposes of different types of organisation by stating their categories, Aims and objectives (AC 1.1) * Types of organisation in the private sector: Typical sole traders include tradesmen...
    1,026 Words | 4 Pages
  • Different Types of Business - 825 Words
    There are at least six different types of business you could choose to start: 1. Sole trader – the oldest form of trading there is, it’s also the simplest and the most common type of business you’ll find. The clue is in the name – meaning that you are solely responsible for everything the business does and you’re often known as the proprietor. This is the usual form for small shops and businesses that provide services such as beauticians, hairdressers, photographers, gardeners and so on....
    825 Words | 3 Pages
  • Formation of a Company Under Companies Act, 1956
    A company is an association of both individual and natural persond incorporated under the existing law of a country. in ters of the companies act,1956 it is defined as: "a company means a company formed and registered under this act or any existing Company"sec 3(1). procedure for formation: ahy seven or more persons or where the company to be formed is a private company,any two or more persons associated for any lawful purpose may by subscribing their names to a memorandum of association and...
    391 Words | 2 Pages
  • Disadvantages of Limited Company - 350 Words
    Disadvantages of a Limited Company Cost – Some people will have you believe that a Limited Company is expensive to set-up. Not so! Our Company Formation packages start from as little as FREE! And include many related services and products that would cost you highly elsewhere. Complex Accounts – There are more complex and restrictive rules governing the accounts and bookkeeping of Limited Companies than sole traders (for example). The Company is expected to produce years accounts...
    350 Words | 2 Pages
  • One Person Company - 246 Words
    One Person Company Group no. 1 (Sec-E) • • • • • • Anand Awasthi - 140103018 Anshulika Golhani – 140103026 Arijit Samaddar - 140102029 Nishchal Mathur – 140103114 Krishanu Ghosh – 140101085 Sougat Chatterjee - 140102127 What is OPC? According to Section 2(62) of the New Companies Act,2013: “One Person Company means a company which has only one person as a member.” Need & Background • First mooted by the JJ Irani Committee. Views of the committee:  OPC – Gateway for individuals to...
    246 Words | 4 Pages
  • Company Law Workshop - 2417 Words
    1) Company Structures Compare private limited companies with two other common forms of business structure Private Limited Companies 1) Unlike a sole trader or a partnership, in a limited liability company, the liability of the members in respects of the company’s debts or wrongdoings is limited only to the extent of the face value of shares taken up by them. Therefore, where a company is limited by shares, the liability of the members on winding up is limited to the amount unpaid on their...
    2,417 Words | 7 Pages
  • Steps For Formation Of A Company In Bangladesh
     Introduction: Company Formation in Bangladesh is a long and complex procedure that includes various significant steps. The process of company formation in Bangladesh is subject to the Companies Act, 1994. There are plenty opportunities in Bangladesh to start a business. The joint stock company’s act of 1850 was the first sub continental act concerning company. Then in 1857 the act of 1850 was replaced by a new act and popularly used before the liberation the act of 1956. After liberation...
    1,908 Words | 6 Pages
  • Company Act 1956 - 7791 Words
    Companies act 1956 Part I Preliminary 1 Short title, commencement and extent. 2 Definitions. 2A Interpretation of certain words and expressions. 3 Definitions of "company", "existing company", "private company" and "public company". 4 Meaning of "holding company" and "subsidiary". 4A Public Financial Institutions. 5 Meaning of "officer who is in default". 6 Meaning of "relative". 7 Interpretation of "person in accordance with whose directions or...
    7,791 Words | 52 Pages
  • advantage of limited company - 771 Words
    1. Advantage of limited company status. Higher take home pay - You'll typically take home around 75% - 80% of your contract by working through your own limited company, you can take home as much as £15,000 per year more on a £350 daily rate compared with using an Umbrella Company. Claim on a wider range of expenses - Anything that is solely classed as a business cost can be claimed back on expenses. Trading through a Limited company means you can claim on a wider range of expenses such as...
    771 Words | 3 Pages
  • Sole Trader and Limited Companies
    Strength of Sole Trader and Limited Comapanies Sole Trader 1) Ease of starting and ending the business -To start a sole proprietorship, all you need to do is fill in the “CWF1” form and inform the HMRC that you are in the business. (in UK) -Get your necessary equipment (e.g. Computer or raw material) -Officially a sole trader -To get out of business, you just simply stop. -No one to consult or disagree about your decision to stop 2) Satisfaction of being your own boss -You get to...
    387 Words | 2 Pages
  • Project on Company Formation - 17279 Words
    project COMPANY FORMATION Welingkar Institute of Management Development & Research. Year of submission: - April, 2011. Acknowledgement Certificate from the guide Table of contents ❖ TITLE PAGE ❖ CERTIFICATE FROM THE GUIDE ❖ ACKNOWLEDGEMENT A. INTRODUCTION B. BACKGROUND C. METHODOLOGY D. CONCLUSION E. RECOMMENDATION F. LIMITATION G. BIBLOGRAPHY Introduction:- A company is an...
    17,279 Words | 64 Pages
  • A Private Limited Company - 139 Words
    A private limited company (LTD) an business owned by its shareholders, the advantages of owning a private limited company is that owners may have limited liability, more capital and unlimited amount of shareholders. Additionally, private limited organisations may still continue to operate efficiently if a shareholder (owner) dies, all the shares can be transferred to answer owners. Stating this there are aspects that limits LTD’s, the disadvantages of owning a private limited company could be...
    139 Words | 1 Page
  • Pakistani Companies Overview - 435 Words
    Companies Overview * Shakarganj Mills LTD.: Shakarganj Mills Limited was incorporated in Pakistan in 1967 as a Public Limited Company and is listed on all three stock exchanges of Pakistan. It is a leading manufacturer of food products, industrial ethanol and particle board as well as textiles. It is working hand in hand with the Dairy Industry of Pakistan to improve milk productivity and animal health. * Desconoxychem LTD.: Descon is one of the largest conglomerates in Pakistan...
    435 Words | 2 Pages
  • Public Limited Companies - 2187 Words
    PUBLIC LIMITED COMPANIES A public limited company (legally abbreviated to plc) is a limited liability company that may sell shares to the public in United Kingdom company law, in the Republic of Ireland and other Commonwealth jurisdictions. It can be either an unlisted or listed company on the stock exchanges. In the United Kingdom, a public limited company usually it abbreviates "plc" at the end and as part of its legal company name. However, certain public limited companies (mostly...
    2,187 Words | 7 Pages
  • Pensonic-Company Profile - 630 Words
    PENSONIC HOLDINGS BERHAD Pensonic Holdings Berhad is an investment holding company. The Company is principally engaged in the manufacture, assembly, sale and distribution of electrical and electronic appliances. It operates in Malaysia, China (including Hong Kong) and Singapore. The Group had it is beginnings in 1965, with a company named Keat Radio and Electrical Corporation, a sole proprietor business, which was a retailer for electrical appliance at Balik Pulau, Penang. As business...
    630 Words | 2 Pages
  • Company Review: Brewdog - 386 Words
    BrewDog BrewDog was established in 2007 as a private limited company with only £30 000. It was established by friends James Watt and Martin Dickie, who also are directors of the company nowadays. The story of BrewDog was born when these two friends were completely bored to all similar beers which were sold in supermarkets all over England and they decided to do something whole different. They took a loan from a bank in the beginning of the year 2007 and the first bottle of beer was already...
    386 Words | 2 Pages
  • The Companies Ordinance, 1984 - 164321 Words
    The Companies Ordinance, 1984 THE COMPANIES ORDINANCE, 1984 (XLVII OF 1984) ********* CONTENTS ………… PART I - PRELIMINARY Sections Pages Preamble 1 1. Short title, extent and commencement 1 2. Definitions 2 3. Meaning of "subsidiary" and "holding company" 9 4. Ordinance not to apply to certain corporations 9 5. Application of Ordinance to non-trading companies with purely provincial 10 objects 6. Ordinance to override memorandum, articles, etc. 10 PART II-JURISDICTION...
    164,321 Words | 489 Pages
  • Joint Stock Company - 6461 Words
    Joint Stock Company Company A company is an artificial person created by law, having a separate legal entity, with a perpetual succession and a common seal. It is an association of individuals for the purpose of earning profit. It has a capital divided into a number of shares, of which each member possesses one or more shares and which are transferable by its owners. Joint Stock Company has been defined by many eminent authors, jurists and institutions. Some of these definitions...
    6,461 Words | 27 Pages
  • Company Law and Secretarial Practices
     ACW 204/3 COMPANY LAW AND SECRETERIAL PRACTICES SEMESTER 1 ACADEMIC SESSION 2012/2013 LECTURER: DR. HAZRIL IZWAR IBRAHIM PREPARED BY: NAME MATRIC NO. CHEE HUI JUN 114071 GOH XIAO YUING 111912 KOK JE SEN 111919 LEE CHIA YEE 111921 TOH SHER LYNN 111987 YEOH LI YEN 111996 1. “Incorporation is the bedrock upon which Company Law is built.” Incorporation means the process of legally declaring a corporate entity as separate entity from its owners. ...
    5,970 Words | 16 Pages
  • Features of Companies Act - 1398 Words
    13 most important features of a company as per company act 1956 (India) Salient Features of Companies Act, 1956 | A company means an association of people to carry on an economic or non-economic activity. A partnership is different from a company as a company is a person in the eyes of law which can sue or be sued; can enter into contracts in its own name etc. It has a distinct personality of its own different from its members. The Companies Act, 1956 is the law that governs companies in...
    1,398 Words | 4 Pages
  • Companies Act 2013 - 3442 Words
    Roll No. – 53 Room No. – 22 Department – BBA Subject – Business Regulatory Framework Topic – Companies Act 2013 Introduction Companies Act, 2013 is an Act of the Parliament of India which regulates incorporation of a company, responsibilities of a company, directors, and dissolution of a company. The 2013 Act is divided into 29 chapters containing 470 clauses as against 658 Sections in the Companies Act, 1956. The Act has replaced The Companies Act, 1956 (in a...
    3,442 Words | 12 Pages
  • Formation of Company and Its Effects
    Table of content 1 | Acknowledgement | 2 | 1.0 | Introduction | 3 | 2.0 | Procedures to form a company2.1 Reservation of company name | 44 | 3.0 | Documents required to be lodged to form a company3.1 Memorandum of Association3.2 Article of Association | 555 | 4.0 | Company’s promoters | 6 | 5.0 | Natures of the company5.1 Company as a body corporate5.2 Can sue and being sued5.3 Perpetual succession5.4 Ability to own property5.5 Limited liability for its members | 8910101112 |...
    6,216 Words | 17 Pages
  • Private Limited Company - 1282 Words
    Advantages of a Public Limited Company (Plc) Tesco is a public limited company (plc). A lot of big companies go public. This is because unlike a private limited, a plc is able to advertise the sale of shares and sell them to members of the general public though the stock exchange. Advantages of a Public Limited Company (Plc) · Shares can be advertised · Shares can be sold through the stock exchange · Large plc’s may find it easier to borrow from banks ·...
    1,282 Words | 6 Pages
  • Introduction to Company Law - 11033 Words
    Topic 1 X Introduction to Company Law LEARNING OUTCOMES By the end of this topic, you should be able to: 1. 2. 3. 4. 5. List the types of business entities and its distinctions; Identify the various forms of companies and the changing of status; Discuss the doctrine of separate legal personality and lifting of the veil of incorporation; Describe the agency principles related to company law; and Evaluate the duties of a promoter and the pre-incorporation contracts. X INTRODUCTION...
    11,033 Words | 42 Pages
  • Companies and Securities Law Assignment
    Companies and Securities Law Assignment Venture Pty Ltd, which uses the Replaceable Rules for its Constitution, is a small proprietary company originally. As it is growing fast, the shareholders are all on the Board and they all have a number of complicated transactions with the company. Many of them are suppliers to the Company and most of them have loans or finance of some sort with the Company. The business is growing so fast that the original type and structure of the company may hinder...
    4,762 Words | 18 Pages
  • Limited Liability Company - 295 Words
    ? Limited liability company The idea began to resonate in my mind about a year ago that I should have a career that I would love and really enjoy going to work for. Soon after I came to that conclusion it dawned on me that that job for me would be to own my own coffee shop. Choosing what the business does is only a drop in the bucket when it comes the steps of creating that business. First I need to decide whether I should go into this business venture with someone else, otherwise known...
    295 Words | 1 Page
  • New Companies Bill: Ireland
    COMPANY LAW CRN 38933 “When implemented, the (New Companies Bill) will be the most dramatic modernization and simplification of company law in the history of the state” Dr. T Courtney (Chairman CLGR) “ John Thompson Date: 17 July 2012 Submitted by: Adrienne Lonergan The Company Law Review Group (CLRG) was established in 2001 as a statutory body under the Company Law Enforcement Act 2001. The purpose of the CLRG was to review the entire body of Irish company legislation which...
    3,379 Words | 11 Pages
  • Winding Up of Company: - 1391 Words
    Winding up of Company: Winding up of a company is the process whereby its life is ended and its property administered for the benefit of its creditors and members. An administrator called a liquidator, is appointed and he takes control of the company, collects its debts and finally distributes any surplus among the members in accordance with their rights. Kind of Companies can be wound up: Only a limited company can be wound-up. The term "winding-up" (or "wound-up") bears a similar meaning of...
    1,391 Words | 4 Pages
  • Company Law Essay - 4626 Words
    The Salomon & Co.[1] case brought about the most significant decision ever laid down in Company Law. The House of Lords decision is the leading authority on the principle that the company [2], which is incorporated under the Companies Acts 1963 is a separate legal entity, separate from its members and capable of having a corporate personality of its own, as Lord MacNaghten stated in Salomon “a different person altogether”[3], from that of the members, almost depicting a fictional character...
    4,626 Words | 12 Pages
  • History of Company Law - 8165 Words
    Learning Objectives At the end of this chapter, students will be able to: 1. Explain the concept of the corporation 2. Outline the development of company law in England and Australia 3. List the various types of corporation 4. Describe the Corporations Law scheme. 5. Outline the recent reform of company law in Australia 6. Explain the need for the introduction of the Corporations Act 2001 Chapter 1 Historical Development of Company Law Chapter Summary 1 THE...
    8,165 Words | 24 Pages
  • The Limited Liability Company - 459 Words
    THE LIMITED LIABILITY COMPANY A popular form of business, especially with small businesses, is the hybrid form of business, the limited liability company (LLC) or a limited liability partnership (LLP), which combine the best features of a partnership and a corporation. In 1988, the Internal Revenue Service (IRS) ruled that the LLC may be treated as a partnership for tax purposes, while retaining its limited liability for its owners. Since this ruling, every state has passed legislation...
    459 Words | 2 Pages
  • Company Law Notes - 6305 Words
    Chapter 2 (Topic 2): Registration and its effects Characteristics of a company -Companies are artificial entities with rights and liabilities separate from their shareholders or members -s119: company comes into existence as a body corporate at the beginning of the day on which it is registered with the name specified in its certificate of registration -This legal entity is separate from its members so assets of the company are not the assets of its members and contracts entered into...
    6,305 Words | 25 Pages
  • Company Secretarial AGM - 4623 Words
     CITRA BERHAD (992367-K) Report on the Annual General Meeting (AGM) The 18th Annual General Meeting of Citra Bhd. was held on 1st APRIL 2010 (Thursday) at 12.00 pm at Bukit Urai Golf Club to transact the following purposes: ANNUAL GENERAL MEETING Annual General Meeting (AGM) is a general meeting of a company which is held once a year. According to Section 143 (1) CA, every company is required to hold its first AGM within 18 months after the date of incorporation. Subsequently, AGM...
    4,623 Words | 15 Pages
  • Companies act highlights - 21097 Words
    Companies Act, 2013 Key highlights and analysis Significant changes and implications Companies Act, 2013 1 Contents 04 | Introduction 06 | Key definitions and concepts 10 | Setting up of a company 16 | Management and administration 18 | Directors 24 | Accounts and audit 30 | Dividend 32 | Compromises, arrangements and amalgamations 34 | Revival and rehabilitation of sick companies 36 | Corporate social responsibility 38 | Implications on private companies 40 | Other areas...
    21,097 Words | 99 Pages
  • Companies act, 2013 - 11859 Words
     COMPANY LAW QUESTIONNAIRE PART - 1 INTRODUCTION The companies Act lays down detailed provision regarding various matters and casts an obligation upon directors and officers of the company to carry the requirement of law. It is the duty of the directors and management to ensure that various provisions have been complied with. However where non-compliance has a bearing upon the accounts and transaction of the company, the auditor may have an obligation to bring it to the notice of the...
    11,859 Words | 59 Pages
  • Joint Stock Company - 2390 Words
    A joint-stock company is a business entity which is owned by shareholders. Each shareholder owns the portion of the company in proportion to his or her ownership of the company's shares (certificates of ownership). [1] This allows for the unequal ownership of a business with some shareholders owning a larger proportion of a company than others. Shareholders are able to transfer their shares to others without any effects to the continued existence of the company. [2] In modern...
    2,390 Words | 16 Pages
  • Business And Company Law - 2231 Words
    BUSINESS & COMPANY LAW Introduction In this assignment, we will be discussing on how to advise Michael on the nature and characteristics of incorporating a private limited company by explaining the advantages and disadvantages of setting up a private limited company. He can actually choose whether he would want to have a company which is limited by shares, a company which is limited by guarantees or a company which is limited by shares and...
    2,231 Words | 14 Pages
  • COMPANY LAW FINAL DRAFT
    Identification of Issue 1. Whether Perfect Living Berhad had the rights and obligations to pay the debts incurred by ABC Berhad? 2. Whether the ABC directors incur any personal liability from the scandal? 3. Whether Damien(Purchasing Manager) has breach his duty as an operation manager and ABC Bhd can take legal action against the breach of Damien`s duty? 4. Whether the directors of ABC Bhd can be made personally liable for any lawsuits behind the corporate veil? Explanation of Law In the case...
    5,705 Words | 14 Pages
  • The Different Between the Formats of Financial Statements (Income Statement and Balance Sheet) for Different Types of Business Such as Sole Proprietorship, Partnership and Limited Company
    The different between the formats of financial statements (income statement and balance sheet) for different types of business such as sole proprietorship, partnership and limited company Each company will have different economic sectors so they use different financial statements with different format that satisfy those sectors. The financial statements collect the financial records form the sales and purchases produce, the net taxable profit or loss for each month. Different types of business...
    299 Words | 1 Page
  • Advantages and Disadvantages of Each Type of Business
    Ouestion (a) Sole Proprietorship Sole proprietorship is a business owned one person, who has full control of the business and how it is run. They also own all the assets of the business and any profit that it makes. In the same vein, they are also responsible for all the debts and liabilities the business accrues. There are lots advantages by being a sole trader. The first advantage is easy formation. The formation of sole proprietorship business is very easy and simple. No legal...
    1,066 Words | 4 Pages
  • Four Different types of Business Organizations
    To: Tom Taylor, VP of Sales From: Tyler Rhyne, Senior Sales Associate Date: October 12, 2014 Subject: Different types of Business Organizations Four Different types of Business Organizations There are many advantages and disadvantages of Business Organizations. Here we will seek out the advantages and disadvantages of Sole Proprietorship’s, Partnerships, Corporations, and cooperative Business organizations. The information provided will also give you an insight on exactly what each...
    1,565 Words | 5 Pages
  • Compare the Sole Trader and Limited Companies
    Compare sole traders and limited companies Alex, Class 1 In the modern society, business is absolutely important because it could gain the profit and be satisfied for individuals, therefore, numbers of business entities are operated in the business activities and two essential entities are widely used, they are sole traders and the limited liability companies, so that compare their similarity...
    639 Words | 2 Pages
  • Winding Up Joint Stock Company
    Joint-Stock Company: A joint-stock company is a business entity which is owned by shareholders. Each shareholder owns the portion of the company in proportion to his or her ownership of the company's shares (certificates of ownership). This allows for the unequal ownership of a business with some shareholders owning a larger proportion of a company than others. Shareholders are able to transfer their shares to others without any effects to the continued existence of the company. In modern...
    1,431 Words | 5 Pages
  • Hong Kong Company Law Essay
    Orthodox Hong Kong Essay Currency: Hong Kong Company law pre-1997, with references to post 1997 amendments and issues. Background and Sources of Company Law The legal system of Hong Kong is based on English common law, with the Companies Ordinance being the core regulator of companies in Hong Kong. When the British assumed control of Hong Kong after the Opium War, it introduced English legislation to the territory. The Hong Kong courts have maintained a strict application of English...
    1,979 Words | 6 Pages
  • Different Types of Business Ownership; +'s and -'s
    There are many different advantages and disadvantages of different types of business ownership, such as being a sole trader, in a partnership, franchises and limited companies. Sole Trader The advantages of being a sole trader are as follows;  They are easy to set up – There are very few complicated forms to fill in and sole traders can set up and run a business almost immediately.  They are easy to run – The owner can do what they want, when they want, without consulting with...
    974 Words | 4 Pages
  • Sole Proprietorship, Partnership and Corporation Business Types
    Abstract Starting a business with no funds or management experience can prove to be difficult. Comparing and contrasting, for the sole purpose of deciding which business type would be beneficial to the scenario given three business types were discussed. Sole proprietorship, partnership and corporation were reviewed. The outcome chosen was partnership being as it relates best to the scenario discussed. The idea of opening a business is not one to take lightly. Being an inventor...
    1,251 Words | 4 Pages
  • Types of Businesses (Wk 2 Individual Assignment)
    Types of Businesses Name Business Law 531 Date Professor Having a business mindset, taking risks, having patience and a good amount of financial means is just the start to starting up a business. Becoming an entrepreneur of any sort is not as easy as most people would think. An important decision an entrepreneur makes is deciding the type of business to create or go into. The business types that will be explained are sole proprietorship, partnership, limited liability...
    1,884 Words | 5 Pages
  • Business Case Study - Types of Business Organizations
    Case Studies – Types of Business Organization (Ownership) Case 2: Joseph LeBlanc, a student looking for summer employment, opened a bait shop in a small shed on a local fishing dock. For this case, I think the type of business here is Sole Proprietorship. Joseph LeBlanc a student looking for a summer employment and decides to open his own bait shop is a very big responsibility. If his business is Sole Proprietorship, it will benefit him in a lot of ways. He will be the boss of himself, which...
    487 Words | 2 Pages
  • Sole Trader vs Private Limited Company
    Firstly, one of the main advantages of a Private Limited Company over a sole trader is that, members may enjoy the availability of Limited Liability, hence the business is incorporated (i.e. the business has a separate identity from the owner).Therefore, liability for payment of debts stops at the Company, and owners and shareholders are not personally liable for any other debts than that of which they have purchased. On the other hand, a sole trader’s liability status is unlimited and there is...
    383 Words | 1 Page
  • A MODERN REGULATORY FRAMEWORK FOR COMPANY LAW IN EUROPE
    REPORT OF THE HIGH LEVEL GROUP OF COMPANY LAW EXPERTS ON A MODERN REGULATORY FRAMEWORK FOR COMPANY LAW IN EUROPE Brussels, 4 November 2002 THE HIGH LEVEL GROUP OF COMPANY LAW EXPERTS Chairman : Jaap WINTER José Maria GARRIDO GARCIA Klaus J. HOPT Jonathan RICKFORD Guido ROSSI Jan SCHANS CHRISTENSEN Joëlle SIMON Rapporteur : Dominique THIENPONT Secretariat : Karel VAN HULLE TABLE OF CONTENTS Page Letter from the Chairman 1 Summary The High...
    69,697 Words | 341 Pages
  • Whether Facebook Can Benefit from the Changing Between Private Limited Company to Public Limited Company
    Facebook is a social net working service, which is started in the United States by Mark Zuckerberg with his friends in 2004. The website's membership was initially limited by the founders to Harvard students, but was expanded to other colleges, and gradually globalization. In 2012, the fonder of Facebook, Mark Zuckerberg decide to convert the structure of Facebook from private limited company to public limited company. Facebook values shares at £24 each, and that its shares would began trading...
    1,517 Words | 4 Pages
  • P1 Describe the type of business, purpose and ownership of two contrasting business
    Only to be utilizes as a example The Business Environment Level 3 Unit 1 P1 Describe the type of business, purpose and ownership of two contrasting business The aim of this report is to describe the type of business organization that operates in United Kingdom and United Sates of America and they are two contrasting business. This will entail comparisons between a Public limited company (Plc.) and a Private limited company (Ltd) in their footings of their ownership, purposes, and sectors of...
    1,271 Words | 4 Pages
  • A Comparative Analysis Between the Three Different Types of Commercial Partnerships
    Assignment Number: 1 11/26/2012 DIPLOMA IN FINANCIAL SERVICES OPERATIONS AND COMPLIANCE Ms Maria Vella A comparative analysis between the three different types of commercial partnerships 2012 INDEXT 1. A comparative analysis between the three different types of commercial partnerships: a. the limitation of liability of the partners/members b. the different rights of partners/members. 2. The notion of separate legal personality 3. Analysis the different classes...
    3,012 Words | 10 Pages
  • Identify the Three Main Types of Business Organisations Recognised in Scots Law.
    1 Identify the three main types of business organisations recognised in Scots law. A. Sole trader The most popular style of small business enterprise, it’s simple to set up and does not require any formalities. Sole trader often is a one person who manages and owns the company. They take all the profits, but must also include all losses. Indeed, if the only operator becomes insolvent personal assets may be used to satisfy creditors, such as a house, car, etc. They are personally...
    1,665 Words | 6 Pages
  • Company Law Essay - Cavendish University Law Lecturers Notes
    DEFINITION OF COMPANY: The Companies Act Cap 110 definition section states that “company” means a company formed and registered under the Act or an existing company. The companies Act does not sufficiently define what a company is but authors have developed a definition of a company. Professor David Bakibinga in his book company law in Uganda at page 2 defines a company as an artificial legal entity separate and distinct from its members or shareholders. This legal person is...
    24,789 Words | 70 Pages
  • The Pros and Cons of Setting Separate Private Company Accounting Standards
    theThe Pros and Cons of Setting Separate private company accounting standards With the development of world economy, U.S.GAAP becomes more and more complex to meet public companies’ needs. Private companies cost a great fortune to compliance with U.S.GAAP. So, setting public-private accounting standards is a different issue debated for decades. it goes without saying that setting new separate accounting standards have its advantages and disadvantages. Background In USA, there are a large...
    956 Words | 3 Pages
  • Mr. Rajkumar Wishes to Convert His Business Entity from Sole Proprietorship to a Private Limited Company. I Have Informed Him the Advantages and Disadvantages of a Private Limited Company. Can You Also Do the Same?
    LEB | Assignment 1 | | Caselet: Mr. RajKumar wishes to convert his business entity from Sole proprietorship to a Private limited company. I have informed him the advantages and disadvantages of a private limited company. Can you also do the same? Inspite of knowing the disadvantages, He still insist for help and guidance in forming a private limited. | | | Firstly Mr. Rajkumar must understand that a limited company is a type of company which when set-up allows an entrepreneur...
    729 Words | 3 Pages
  • The title of the essay is "Business Ownership" The question was: Name the three different types of Business ownership and name the advantages and disadvantages of each form.
    Business Ownership There are three different forms of business ownership, the Sole Proprietorship, the Partnership, and the Corporation. Each of these businesses have major advantages and disadvantages. The sole proprietorship is a business which is owned and managed by one individual. Some of its advantages are, the ease of formation, its management control, and its distribution of profits. Some of the disadvantages are, its unlimited liability, the lack of continuity, the capital...
    1,586 Words | 5 Pages
  • Sole Proprietorship | Partnership - 424 Words
    | Sole Proprietorship | Partnership | Joint Stock Company (JSC) | Definition | It is the type of business organization in which one person owns and operates in business | The relation between persons who have agreed to share the profits of a business carried on by all any one of them acting for all. | A company is an association of person who contribute money to a common stock and use it for a common purpose | Legal entity | It contain separate legal entity apart from its owners | It...
    424 Words | 1 Page

All Types of companies Essays