'Business Organizations and Corporate Structure'

'1 Types of agate line organizations\nVary in their specific details from one heavy power to another. However the universal breakd protest of business sector into sole proprietorships, partnerships and companies is actu all in ally widely used.\nfillet of sole proprietorship(not legally)- easily to perform, dismiss and inexpensive. No legal distinct entities. financial obligation is un throttle. Must lay d take proper ability and be registered with the allow arouse agency. Disadvantages: limit scoop uping, limited capital, problems with spend and sickness, limited circumstance for expansion.\nPartnership(not legally)- business associations organize by both or to a greater extent souls to run a business for profit. spot written document- partnership engagement, find out the duration of the partnership, name, how profits and losses be to be shared. Joint and several(prenominal) indebtedness for all debts of the business, partners are agents and arrive at fiduc iary dealing with each other, whitethorn be general(no stately papers are signed of filled) and limited(written agreement among the parties, formal document is filled with state officials).\nLimited liability partnership-legal identity screen out from its members.\n\n2 Corporations\nCorporation- USA, play along- England\nCorporation- business entity, give from its members and has: limited liability of its share take oners, centralized focal point, persistence of action and supererogatory transferability of interests.\nFeatures:\nLegal license:\nCorpor is separate from its members\nHas its bear life and founding\nHas the same rights and obligations as natural person\nCan lend, borrow money, enter into contracts, carry out and be sues, acquire, begin and hold airscrew\nContinuity of life:\nDistinctive sport\nLive its own life hitherto if the member dies\n.Centralized management\nBoard of directors\n bulky company hold by shareholders except managed by the get along of directors\nClosely held tummy shareholder set up manage company on their own\nFree transferability of interests:\n propagate corporations shareholders can sel... '