Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
It means that the business is owned and managed by one individual only.
SOLE PROPRIETORSHIP
Example:
Sari-sari store
Shoe repair
Vegetable vending
Dry goods
Fish vending
PARTNERSHIP
PARTNERSHIP
A legal relationship formed by an
agreement between two or more
individuals to carry on a business as
co-owners.
PARTNERSHIP
Each member is called a
‘partner’. Their agreement in
writing is called ‘ partnership
deed’.
PARTNERSHIP
• The partners share the profit and loss of the business
• No partner can sell or transfer his interest in the firm
to anyone without the consent of other partner/s.
• Easier to raise funds
PARTNERSHIP
Example:
Retail and wholesale trade
Professional service
Small manufacturing units
CORPORATION
CORPORATION
It is a voluntary association of persons to carry-on a business.
CORPORATION
• Artificial person
• It can sue and can be sued
• Perpetual existence
• Transferability of shares
CORPORATION
Members are called ‘shareholders’.
Capital is called ‘ share capital’.
The one who got the biggest share is what we
call the ‘Chairman of the Board’.
Professional management is being practiced.
CORPORATION
Example:
Large Food Chains
Banks
Schools
COOPERATIVE
COOPERATIVE
Functions under the Cooperative Societies Act, 1912
and other State Cooperative Societies Acts. The main
objective of cooperative society are:
A . Rendering service rather than earning profit;
B. Mutual help instead of competition;
C.Self help in place of dependence.
COOPERATIVE
Voluntary association
Service motive
Democratic set-up
Return on Capital
COOPERATIVE
Example:
Multi-purpose cooperatives
Electric cooperatives
Farmers cooperatives
THUMBS-UP ACTIVITY