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FORM OF BUSINESS ENTITIES, NAME : NUR HAZIMAH HAZWANI BINTI HALIZAN,…
FORM OF BUSINESS ENTITIES
The Definition of Business
All forms of activities such as trade, craft, occupation, profession or other activity which seeks to gain profit
[Section 2, Registration of Businesses Act 1956]
Sole Proprietorship
A sole proprietorship is founded, owned, financed, and managed by a single person.
Usually one person manages it and can hire some workers to help with the business.
sole proprietorships are assigned under the company Registration Act of 1956, where this type of company is easy to establish and represents the largest number of registered companies in Malaysia.
The registration fee for a sole proprietorship is only RM60.
Examples of sole proprietorship: Mini markets, restaurants,
convenient stores, burger kiosks, etc.
Partnership
A company registered as a partnership must have at least two people with
and no more than 20 people as shareholders.
In general, your legal liability to third parties is similar to
individual property.
The internal relationship between the partners, however, depends on the terms of the social contract between them.
Private Limited Company
it can acquire and own property, it can sue and be sued in court of law
The life span of the company is not dependent upon the death or resignation of any of its members.
The total number of members in a company must be at least two and it must not be more than fifty persons.
companies limited by shares must carry the words '(Sdn Bhd)’ behind their names
Financial liability of members of the company is limited to the amount of shares being held or subscribed by the members
NAME : NUR HAZIMAH HAZWANI BINTI HALIZAN
MATRIC NO. : UDE200091
CLASS : SECTION 2