'Business Organizations and Corporate Structure'

'1 Types of line of products organizations\nVary in their specific details from one jurisdiction to another. However the e very(prenominal)day breakd aver of assembly line into sole proprietorships, partnerships and companies is very widely used.\nfillet of sole proprietorship(not sub judicely)- easily to perform, crash and inexpensive. No legal distinct entities. indebtedness is un special. Must run through proper message and be registered with the book ground agency. Disadvantages: express seize oning, limited capital, problems with spend and sickness, limited scene for expansion.\nPartnership(not leg onlyy)- business associations create by 2 or much psyches to run a business for profit. recognise inscription- partnership cartel, treated out the term of the partnership, name, how profits and losings atomic number 18 to be shared. Joint and several(prenominal) indebtedness for all debts of the business, partners are agents and energize fiduciary relations w ith each other, may be general(no imposing papers are signed of filled) and limited(written agreement among the parties, formal document is filled with state officials).\nLimited liability partnership-legal identity reprinting from its members.\n\n2 Corporations\nCorporation- USA, community- England\nCorporation- business entity, break d accept from its members and has: limited liability of its share liveers, centralized commission, perseveration of biography and justify transferability of interests.\nFeatures:\nLegal emancipation:\nCorpor is separate from its members\nHas its bear life and human race\nHas the same rights and obligations as natural person\nCan lend, borrow money, enter into contracts, litigate and be sues, acquire, read and hold seat\nContinuity of life:\nDistinctive quality\nLive its own life tear down if the member dies\n.Centralized management\nBoard of directors\n large company hold by shareholders nevertheless managed by the come along of di rectors\nClosely held potbelly shareholder basis manage company on their own\nFree transferability of interests:\n free corporations shareholders can sel... '