Legal forms of Sole Traders

Sole trader. It provides capital from his own resources (which may be supplemented by loans) and he alone is fully responsible for the management of the enterprise and must bear all risks. There is unlimited liability in the sole trader, i.e. he receives all profits and in the event of failure must all losses for which he is liable not only with his business property, but with all his private property as well. Examples of sole traders include plumbers, electricians, grocers, tobacconists, accountants, dentists and lawyers.
Ordinary Partnership is then the capital is supplied by the partner and they are fully liable for the losses of the company. Profits and losses are divided proportionally according to the partnership agreement. A partner who takes no active part in the running of the business is called a sleeping partner.
Limited Partnership is when is at least one fully liable partner. The other partner’s liability is limited to the capital they have invested in the company. They can’t take part in the management of the business.
1. Private Limited Company (Ltd.)
2. Public Limited Company (plc.).
The public limited companies are very important for the national economy for two main reasons:
• they make possible the accumulations of large amounts of capital necessary for large – scale industrial enterprises;
• they enable the large institutional investors such as insurance companies to provide capital for industry.
A public limited company is run by a Board of Directors elected at an annual general meeting of the shareholders.
The main differences between a private and public limited companies are:
• source of capital in private limited company are resources of members and connections and profit disposal to members; they also are not allowed to issue shares or debentures to the general public.
• Public limited company’s capital investment from the public and part of profit made is...

Daugiau informacijos...

★ Klientai rekomenduoja

Šį rašto darbą rekomenduoja mūsų klientai. Ką tai reiškia?

Mūsų svetainėje pateikiama dešimtys tūkstančių skirtingų rašto darbų, kuriuos įkėlė daugybė moksleivių ir studentų su skirtingais gabumais. Būtent šis rašto darbas yra patikrintas specialistų ir rekomenduojamas kitų klientų, kurie po atsisiuntimo įvertino šį mokslo darbą teigiamai. Todėl galite būti tikri, kad šis pasirinkimas geriausias!