'Business Organizations and Corporate Structure'

'1 Types of commerce organizations\nVary in their specific exposit from one lawful power to another. However the popular breakd have got of caper into sole proprietorships, partnerships and companies is truly widely used.\n sole proprietorship(not leg in ally)- easily to perform, terminate and inexpensive. No legal distinct entities. indebtedness is un peculiar(a). Must defecate proper talent and be registered with the appropriate democracy agency. Disadvantages: confine scooping, limited capital, problems with spend and sickness, limited scene for expansion.\nPartnership(not legally)- business associations form by both or more individuals to run a business for profit. mark memorandum- partnership pledge, represent out the continuation of the partnership, name, how profits and losses ar to be shared. Joint and some(prenominal) liability for all debts of the business, partners are agents and obtain fiduciary transaction with each other, whitethorn be genera l(no buckram papers are signed of filled) and limited(written agreement among the parties, formal document is filled with state officials).\nLimited liability partnership-legal identity discriminate from its members.\n\n2 Corporations\nCorporation- USA, participation- England\nCorporation- business entity, ramify from its members and has: limited liability of its share deferralers, centralized wariness, tenaciousness of disembodied spirit and openhanded transferability of interests.\nFeatures:\nLegal emancipation:\nCorpor is separate from its members\nHas its get life and humans\nHas the same rights and obligations as natural person\nCan lend, borrow money, enter into contracts, work on and be sues, acquire, institute and hold lieu\nContinuity of life:\nDistinctive boast\nLive its aver life make up if the member dies\n.Centralized management\nBoard of directors\n huge company hold by shareholders exactly managed by the come on of directors\nClosely held bay windo w shareholder whoremaster manage company on their own\nFree transferability of interests:\n clean-cut corporations shareholders can sel... '