Business Organizations and Corporate Structure

1 Types of blood line organizations\nVary in their specific details from unrivaled jurisdiction to another. However the familiar breakd feature of furrow into mend proprietorships, partnerships and companies is very widely used.\nfillet of sole proprietorship(not legally)- easily to perform, dissolve and inexpensive. No legal distinct entities. obligation is un restrict. Must put on straitlaced capacity and be registered with the beguile state agency. Disadvantages: modified geting, limited capital, problems with holiday and sickness, limited mount for expansion.\nPartnership(not legally)- business associations formed by two or more persons to run a business for profit. Key memorandum- partnership agreement, dress up out the duration of the partnership, name, how lettuce and losses are to be shared. Joint and several obligation for all debts of the business, partners are agents and have fiduciary relations with for each one other, may be general(no dinner dress pap ers are write of filled) and limited(written agreement among the parties, formal document is filled with state officials).\n trammel liability partnership-legal identity disclose from its peniss.\n\n2 Corporations\nCorporation- USA, social club- England\nCorporation- business entity, transgress from its members and has: limited liability of its shareowners, modify management, continuity of life and lax transferability of interests.\nFeatures:\nLegal independence:\nCorpor is separate from its members\nHas its own life and humans\nHas the same rights and obligations as pictorial person\nCan lend, borrow money, enter into contracts, sue and be sues, acquire, convey and hold prop\nContinuity of life:\n typical feature\nLive its own life even if the member dies\n.Centralized management\nBoard of directors\n long company hold by shareholders but managed by the control panel of directors\nClosely held corp shareholder can manage company on their own\n salve transferability of interests:\nOpen corporations shareholders can sel...