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Registration of Business Entities - Coggle Diagram
Registration of Business Entities
Business Entity Types
Sole Proprietorship: 1 owner, easy to establish
Partnership: 2–20 owners; professionals up to 50
LLP: Separate legal entity, limited liability
Private Limited Company: 1–50 members, Sdn. Bhd.
Cooperative: Joint ownership, democratic control
Benefits & Limitations
Sole Proprietorship: Full control / unlimited liability
Partnership: Shared capital / possible conflicts
LLP: Limited liability / formal requirements
Private Limited Company: Limited liability / high costs
Cooperative: Shared benefits / slower decisions
Registration Agencies
SSM: Sole proprietorship, partnership, LLP, Sdn. Bhd.
SKM: Cooperative
Importance of Registration
Legalizes business
Fulfils legal requirements
Ensures compliance
Legal Aspects
Choose business type
Follow relevant laws
Meet registration requirements
Learning Outcomes
Identify 5 business entities
Explain benefits and limitations
Describe registration procedures
Identify registration agencies
Compare business entities