An Assignment on Business Ownership - 1142 Words

July 4, 2011 An assignment on Business Ownership Ba-1105: Introduction to Business Business Administration Discipline, Khulna University Among a few types of Business Ownerships Sole-Proprietorship, Partnership and Corporation Business will be discussed below. * Sole-Proprietorship * This is the most oldest and common form of business ownership. It is a individually operated organization. * The sole proprietorship is the form of business ownership which is owned amp; controlled by a single individual. * A sole proprietorship is a business that is owned and controlled by a single individual * A sole proprietor is an active manager. * Features of Sole Proprietorship Business†¦show more content†¦* A company or corporation is an artificial being, invisible, intangible and existing only in contemplation of law. * A corporation is a legal entity that is created under the laws of a state designed to establish the entity as a separate legal entity having its own privileges and liabilities distinct from those of its members. * Features of Corporation * Limited Liability * Statutory responsibility * Law created concern * Artificial personality * Much capital * Democratic norm following * Perpetual succession * Common seal * Share capital * Independent nature management * Voluntary organization * Advantages and disadvantages of corporation: Advantages | Disadvantages | Greater and easy Capital | Difficulty of startup | Limited liability | Lack of control | Separate legal entity | Multiple taxation | Highly skilled operation | Lack of secrecy | Retain high performers | Lack of personal interest | Stability | Slow decision making | To form a corporation one or more person must make a decision concerning this. 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