What are the different forms Public Company, Private Company, Partnership/Limited Liability Partnership (LLP), and Proprietorship/One Person...

What are the different forms Public Company, Private Company, Partnership/Limited
Liability Partnership (LLP), and Proprietorship/One Person Company (OPC) of Profit-making
Business Organizations? Explain them with the suitable examples.

Solutions

Expert Solution

Public companies are companies which certain percentage of the shares are held with public. These are the companies which commonly listed in stock markets. These companies has to publich there balance sheet to public year on year basis.

Private companies are companies with at least 2 members and maximum of 200members as of indian company law.Liabilities are limited.

Partnership or LLP : Partnership are mainly an agreement between 2 or 3 parties with unlimited liabilities. However, LLP is also partnership but there liabilties are limited and the formalities are very low when comparing with private or public limited company.

Sole propriertership: Business which is owned and operated by an individual, here liabilities are unlimited but decision making will be really quick.

One person company: It is totally a new concept, it also only requires one person but he or she can register that as a company and enjoy all the benefits a private company could get.

jeff jeffy answered 1 year ago

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