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(For-profit Organisation (Non-incorporated (Sole Proprietors (Advantages…
For-profit Organisation
Non-incorporated
Sole Proprietors
Advantages
Exclusive
Decision-making
Authority
Total Autonomy
Independence
Low cost
Limited formality
100% Profits
Disadvantages
Sole responsibility
Limited skills
Economies of scale - poor
Unlimited liability
Partnerships
Incorporated
Private Limited
Public Limited
Definition
Separate legal entity
No
Unlimited liability
Not-for-profit Organisations
Charities
Government