Business Organizations and Corporate Structure

1 Types of logical argument organizations\n substitute in their specific details from one jurisdiction to another. so far the general breakd avow of business into sole proprietorships, unions and companies is very widely used.\nSole proprietorship(not legally)- easily to perform, resolve and inexpensive. No legal different entities. Liability is un moderate. Must drive proper capacity and be registered with the appropriate verbalize agency. Disadvantages: exceptional borrowing, limited capital, problems with holiday and sickness, limited scope for expansion.\nPartnership(not legally)- business associations organize by two or more persons to run a business for profit. Key document- partnership agreement, set out the duration of the partnership, name, how profits and losses atomic number 18 to be sh bed. Joint and several(prenominal) liability for all debts of the business, partners argon agents and have fiduciary traffic with each other, may be general(no dinner gown pa pers are signed of filled) and limited(written agreement among the parties, formal document is filled with state officials).\nLimited liability partnership-legal personal identity separate from its members.\n\n2 Corporations\nCorporation- USA, company- England\nCorporation- business entity, separate from its members and has: limited liability of its share take a leakers, centralized dish outment, continuity of behavior and free transferability of interests.\nFeatures:\nLegal license:\nCorpor is separate from its members\nHas its own action and existence\nHas the same rights and obligations as natural person\n dissolve lend, borrow money, enter into contracts, swear out and be sues, acquire, convey and handle property\nContinuity of intent:\nDistinctive feature\n raging its own life even so if the member dies\n.Centralized management\n mature of directors\nHuge company hold by shareholders but managed by the board of directors\nClosely held bay window shareholder drive o ut manage company on their own\nFree transferability of interests:\nOpen corporations shareholders can sel...