Archive | Types

Sole Proprietorship: Meaning, Characteristics and Scope | Business Management

After reading this article you will learn about:- 1. Meaning of Sole Proprietorship 2. Definitions of Sole Proprietorship 3. Characteristics 4. Scope and Prospects 5. Advantages 6. Disadvantages. Meaning of Sole Proprietorship: This form of organisation is the oldest and functioning from times immemorial in one form or the other. This is a ‘one man […]

Joint Hindu Family Business: Meaning, Characteristics and Advantages

After reading this article you will learn about:- 1. Meaning of Joint Hindu Family Business 2. Characteristics of a Joint Hindu Family Business 3. Advantages 4. Disadvantages. Meaning of Joint Hindu Family Business: The Joint Hindu Family Business is a distinct form of organisation peculiar to India. Joint Hindu Family Firm is created by the […]

Partnership and Joint Hindu Family Business: Difference | Management

This article will help you to differentiate between partnership and joint Hindu family business. Difference # Partnership Business: 1. Formation: A partnership business comes into existence by mutual contact between the partners. 2. Admission of a Member: In partnership, a member is taken into the business by an agreement. 3. Members: Males or Females: In […]

Partnership: Definition, Need and Characteristics

After reading this article you will learn about:- 1. Meaning and Definition of Partnership 2. Need of Partnership 3. Characteristics or Features or Elements. Meaning and Definition of Partnership: Partnership is an association of two or more persons who agree to carry on a lawful business in common with the object of sharing in partnership. […]

Partnership and Co-Ownership: Difference | Management

This article will help you to differentiate between partnership and co-ownership. Difference # Partnership: 1. Contract: Partnership is the outcome of an agreement. 2. Number of Members: In partnership, the number of members cannot exceed the maximum limit. 3. Object: The object of partnership is to carry on some lawful business and earn profits. 4. […]

6 Essential Requisites of an Ideal Partnership

The essential requisites of an ideal partnership are as follows: 1. A Written Agreement 2. Common Purpose 3. Long Duration 4. Good Faith 5. Sufficient Capital 6. Registration. Requisite # 1. A Written Agreement: In order to avoid any complications, disputes, misunderstanding, it is always desirable that there should be a written agreement among the […]

Partnership Deed: Meaning, Contents and Rules | Business Management

After reading this article you will learn about:- 1. Meaning of Partnership Deed 2. Contents of a Partnership Deed 3. Rules to be Followed in the Absence of a Partnership Deed. Meaning of Partnership Deed: The partnership comes in existence by an agreement. The agreement may be written or oral. But it is advisable that […]

Registration of Partnership Firm and Effects of Its Non-Registration

After reading this article you will learn about the procedure for registration of partnership and effects of its non-registration. Registration of Partnership Firm: The registration of the partnership firm is not compulsory but it should be registered with the Registrar of Firms soon after its formation. Because an unregistered firm cannot sue outsiders although outsiders […]

How a Sole Proprietors will be Successful against Large Entrepreneur? (6 Factors)

The factors listed below illustrate how a sole proprietor will be successful against large entrepreneur. 1. Normally, a business is stated as one-man venture, because of the many advantages it offers. As the proprietor makes a success of it and is faced with the problem of expansion, he resorts to the formation of the company. […]

Limitations of Sole Proprietorship (With Measures)

After reading this article you will learn about the limitations of sole proprietorship with measures to overcome it. Limitations of Sole Proprietorship: When the business of a sole trader continues to expand, he has to face the following limitations: 1. Lack of Capital: As the sole proprietor has got a limited capital which he has […]