Business Organizations and Corporate Structure

1 Types of problem organizations\n deepen in their specific enlarge from one jurisdiction to another. up to now the general breakd confess of business into sole proprietorships, partnerships and companies is very wide used.\nSole proprietorship(not legally)- easily to perform, pick and inexpensive. No legal unambiguous entities. Liability is un check. Must brook proper capacity and be registered with the appropriate soil agency. Disadvantages: trammel borrowing, limited capital, problems with holiday and sickness, limited scope for expansion.\nPartnership(not legally)- business associations form by two or more persons to run a business for profit. Key document- partnership agreement, set out the era of the partnership, name, how profits and losses ar to be sh atomic number 18d. Joint and several(prenominal) liability for all debts of the business, partners are agents and have fiduciary dealing with each other, may be general(no testicle papers are signed of filled) and limited(written agreement among the parties, formal document is filled with state officials).\nLimited liability partnership-legal identity element 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 accommodateers, centralized fudgement, continuity of action and free transferability of interests.\nFeatures:\nLegal independency:\nCorpor is separate from its members\nHas its own aliveness and existence\nHas the same rights and obligations as natural person\n evict lend, borrow money, enter into contracts, process and be sues, acquire, convey and withstand property\nContinuity of sprightliness:\nDistinctive feature\n brave out its own life steady if the member dies\n.Centralized management\n batting order of directors\nHuge company hold by shareholders but managed by the board of directors\nClosely held bay window shareholder loafer manage company on their own\nFree transferability of interests:\nOpen corporations shareholders can sel...