LEGAL FORM OF A BUSINESS
the Legal form of a business, which signifies the duties and the rights of the
owners, there are two chief categories.
The Personal and
where the owners can be one or more
the companies there are four types of them:
are two or more partners and each one contributes a share which may be unequal,
but all of them have unlimited responsibility* for the obligations.
this kind of company each of the partners has different responsibilities and
rights. One or more of them haw the right of the handing and the representation
of the Limited Company
( General Partner)
and the unlimited responsibility. The other ( the most) have responsibilities
according to their contribution. They haven’t the right to present or manage
Liability Company: Each
one of the partner contributes a part
in the company and he is responsible only for that part. They can take from the
total capital of the company accordingly to their contribution. No one can sale
his share unless all the partners are agreeable to that.
– Stock Company:
In this company, the partners have the responsibility only for the sum of money
that his contributed. The total capital is shared. These shares are Titles
of properties of the company and can be assigned at the most cases
without any terms.
A new kind of
dynamic company and interservice co operation which haw the aim to promote
products and services. Franchising is a deal between
two partners. The first one is the owner of a big and successful business
and the other one is someone who wants to create a new enterprise. The owner
gives to the second person his firm's name, methods of communication and
advertisements. It seems like the new business is a branch of the famous one.
Unlimited responsibility = The obligation of each partner in the company
includes all his individual property.
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