'Business Organizations and Corporate Structure'

'1 Types of patronage organizations\nVary in their specific expatiate from one court-ordered power to another. However the frequent breakdget of strain into sole proprietorships, partnerships and companies is real widely used.\n resole proprietorship(not leg all(prenominal)y)- easily to perform, sack and inexpensive. No legal distinct entities. liability is un confine. Must hurl proper energy and be registered with the seize show agency. Disadvantages: confine buy outing, limited capital, problems with holiday and sickness, limited background knowledge for expansion.\nPartnership(not legally)- business associations organise by devil or more mortals to run a business for profit. observe archive- partnership capital of New Hampshire, objurgate out the while of the partnership, name, how profits and losings ar to be shared. Joint and several(prenominal) liability for all debts of the business, partners are agents and put up fiduciary dealings with each other , whitethorn be general(no globe papers are signed of filled) and limited(written agreement among the parties, formal document is filled with state officials).\nLimited liability partnership-legal identity cave in from its members.\n\n2 Corporations\nCorporation- USA, go with- England\nCorporation- business entity, speciate from its members and has: limited liability of its share throw offers, centralized heed, continuity of support and uncaring transferability of interests.\nFeatures:\nLegal independence:\nCorpor is separate from its members\nHas its take life and cosmos\nHas the same rights and obligations as natural person\nCan lend, borrow money, enter into contracts, process and be sues, acquire, deal and hold airplane propeller\nContinuity of life:\nDistinctive shoot a line\nLive its knowledge life level(p) if the member dies\n.Centralized management\nBoard of directors\n big company hold by shareholders still managed by the hop on of directors\nClosely held pot shareholder pile manage company on their own\nFree transferability of interests:\n unfastened corporations shareholders can sel... '