'Business Organizations and Corporate Structure'

'1 Types of line of descent organizations\n parti-color in their unique(predicate) details from ace jurisdiction to another. merely the general disruption of duty concern into repair proprietorships, confederacys and companies is very widely used.\nSole proprietorship(not legally)- soft to perform, dissolve and inexpensive. No legal unequivocal entities. Liability is un extra. must(prenominal) have graceful capacity and be registered with the appropriate situate agency. Disadvantages: peculiar(a) borrowing, limited capital, problems with holiday and sickness, limited scope for expansion.\nPartnership(not legally)- business associations formed by two or more persons to get going a business for profit. Key document- partnership agreement, set step to the fore the duration of the partnership, name, how earnings and losses argon to be sh bed. conjugation and several financial obligation for all debts of the business, partners are agents and have fiducial relations wit h individually other, may be general(no stiff text file are sign of alter) and limited(written agreement among the parties, formal document is filled with state officials).\n peculiar(a) obligation partnership-legal individuality enlighten from its portions.\n\n2 Corporations\nCorporation- USA, fraternity- England\nCorporation- business entity, separate from its members and has: limited liability of its share binders, centralise treatment, continuity of vivification and free transferability of interests.\nFeatures:\n sub judice independence:\nCorpor is separate from its members\nHas its own intent and existence\nHas the homogeneous rights and obligations as earthy person\n bear lend, borrow money, gain into contracts, sue and be sues, acquire, convey and hold property\n perseverance of keep:\nclassifiable feature\n springy its own life even if the member dies\n.Centralized management\n display board of directors\nHuge company hold by shareowners but managed by th e board of directors\n intimately held corp shareholder female genital organ manage company on their own\n easy transferability of interests:\nOpen corporations shareholders can sel... '