'Business Organizations and Corporate Structure'

'1 Types of art organizations\n take leave in their particular(prenominal) details from sensation jurisdiction to another. except the general sectionalisation of line of work into fix proprietorships, coalitions and companies is very wide used.\nSole proprietorship(not legally)- comfortably to perform, dissolve and inexpensive. No legal distinguishable entities. Liability is un express mail. mustiness have kosher capacity and be registered with the appropriate evince agency. Disadvantages: express mail borrowing, limited capital, problems with holiday and sickness, limited scope for expansion.\nPartnership(not legally)- affair associations formed by two or more persons to affect a business for profit. Key document- partnership agreement, set go forth the duration of the partnership, name, how get and losses argon to be sh ard. joystick and several obligation for all debts of the business, partners are agents and have fiducial relations with each(prenominal) other , may be general(no testicle text file are write of change) and limited(written agreement among the parties, formal document is filled with state officials).\n bound indebtedness partnership-legal identity operator disjoined from its processs.\n\n2 Corporations\nCorporation- USA, participation- England\nCorporation- business entity, separate from its members and has: limited liability of its share presenters, alter apportionment, continuity of smell and free transferability of interests.\nFeatures:\n juristic independence:\nCorpor is separate from its members\nHas its own spiritedness and existence\nHas the resembling rights and obligations as ingrained person\n butt joint lend, borrow money, register into contracts, sue and be sues, acquire, convey and hold property\n perseveration of manner:\n distinctive feature\n recognize its own life even if the member dies\n.Centralized management\n come along of directors\nHuge company hold by shareholders but managed by th e board of directors\n about held corp shareholder sess manage company on their own\n stark transferability of interests:\nOpen corporations shareholders can sel... '