Commercial Organizations Private Sector Public Sector Department undertakings Statutory Corporations. Government Companies. Sole Trading Concern. Joint Hindu Family business. Partnership Firm. Co-operative Societies

Sole Trading Concern Feature Merits De-Merits Minimum Government Regulations. Ultimate Liability. Freedom in selection of Business. Secrecy. Individual Ownership Direct contacts with customers and employees. Suitable for some special bunnies'. No sharing of profit and risk Merits De-Merits Limited Managerial ability, Limited amount of capital. Unlimited liability. Not suitable for large scale operations. Lack of stability. Absence of specialization. Unprofessional Decisions Easy formation. Benefit of Secrecy. Direct Motivation Quick Decision. Lower Costs. Development. Flexibility in operation. Limited Government Control. Credit Standing. Efficiency

Joint Hindu Families Business Merits De-Merits Features Easy to Start Prompt Decisions Good Relation with employees Flexibility Secrecy Co-Parcener’s Liability Good Credit Standing Continuity and Stability Limited Resources Limited Managerial Skills Unlimited Liability of Karta Breaking of Joint family Lack of Direct Efforts Restricted Expansion Unlimited Co-parceners Formation Karta & Co-Parceners Joint Ownership Membership Management Profit Sharing Quick Decision Good Relations

Sharing Profit & Losses. Number of Partners. Joint Ownership. Types and Features of Partnership Agreement. Lawful business. Sharing Profit & Losses. Number of Partners. Joint Ownership. Unlimited Liabilities. Dissolution. Joint Management. Principal – Agent Relationship Features Registration Registration of Partnership. Procedure of Registration. Effects of Non Registration. Benefited of Registration.

More Financial Resources. More Manpower Resources. Easy formation. Types and Features of Partnership More Financial Resources. More Manpower Resources. Easy formation. Simple Dissolutions. Rational Decisions. Secrecy. Personal Contacts. Division of Risk. Flexible Organization. Merits Unlimited Liability. Limited Resources. Disputes Among Partners. Risk of Implied Authority. No Separate Legal Status. No Succession. De-Merits

Active / Actual Partners. Sleeping or Dormant Partners. Types and Features of Partnership Active / Actual Partners. Sleeping or Dormant Partners. Nominal Partners. Minor Partners. Partners in Profits only. Limited Partners. Partner by holding our. Secret Partner. Types of Partners Types of Partnership Partnership at will & Particular Partnership. General & Limited Partnership. Registered & Unregistered Partnership.

Voluntary Association. Equal Voting Rights. Service Motive. Types and Features of Co-Operative Society Voluntary Association. Equal Voting Rights. Service Motive. Limited Liability. Democratic Management. Independent Existence. Registration. Surplus Profit. State Control. Features Easy Formation. Democratic Management. Limited liability. Stability. Open Membership. Tax concession. Less Operating Expenses. Supply of Goods at cheaper rate. Self financing and charity. Merits

Types and Features of Co-Operative Society Lack of Capital Rigid Government Rules. Lack of Public Confidence. Lack of Motivation. Mutual Disputes Stability Limited Scope of Expansion. De-Merits Consumer’s Co-operative Credit Co-operative. Producer’s Co-operative. Marketing Co-operative. Farming Co-operative. Housing Co-operative. Types

Types of Companies Chartered Company Statutory Company Registered Company Limited Company Unlimited Company Company limited by Guarantee Company limited by Guarantee & Shares Company limited by Shares Public Ltd. Company Private Ltd. Company

Artificial legal Person. Separate legal Entity. Limited Liabilities. Joint Stock of Companies Features Artificial legal Person. Separate legal Entity. Limited Liabilities. Common Seal. Registration. Transferability of Shares . Separation of ownership and Management. Membership. Registered office. Voluntary Association. Perpetual Succession.

Democratic Management. Transferability of Shares. Limited liability. Joint Stock of Companies Merits Large Capital. Democratic Management. Transferability of Shares. Limited liability. Expert Services. Relief in taxation . Public Confidence Scope for growth and expansion.

Difficulty in formation. Delay in decisions. Joint Stock of Companies De- Merits Difficulty in formation. Delay in decisions. Excessive government control. High cost of Management. Undue speculation. No personal contact. Lack of Secrecy. No Direct Effort reward relationship.