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forms of business organisation - Coggle Diagram
forms of business organisation
SOLE PROPRIETOR
FEATURES
unltd. liab
sole risk bearer
sole profit receipent
continuity
lack of resources
lack of managerial ability
easy formation
quick decision making
no sepearte legal entity
JHF
features
control
liability
membership
continuity
ancestral property
limited mangerial ability
chance of conflicts
lack of resources
increased loyalty
PARTNERSHIP
features
sharing profits & losses
lawful
chances of conflicts
ownership & control
liability
no sepearte legal entity
members
registration
agreement
type of partners
types of partnership
COOPERATIVE SOCIETY
features
voluntary association
legal status
limited liability
control
separate legal entity
easy formation
service motive
types of cooperative socities
JOINT STOCK COMPANY
features