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. If his capital needs are [...]
After reading this article you will learn about:- 1. Meaning and Definition of Company 2. Characteristics of Company 3. Kinds. Meaning and Definition of Company: Literary meaning of the word 'company' is an association of persons formed for common object. A company is a voluntary association of persons recognised by law, having a distinctive name and common seal, formed to [...]
There are different kinds of partners and they may be classified in the following manner: 1. Active Partner 2. Sleeping or Dormant Partner 3. Nominal Partner 4. Partner in Profits Only 5. Minor as a Partner 6. Incoming Partner 7. Outgoing Partner 8. Partner by Estoppel or Holding Out. Kind # 1. Active Partner: A partner who is actively engaged [...]