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

2. 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

3. 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

4. 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.

5. 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

6. 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.

7. 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

8. 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

9. 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

10. 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.

11. 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.

12. 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.