This article will help you to make comparison between private limited and public limited companies. Comparison # Private Limited Company: 1. Membership: Membership is confined to the close friends and relatives of the promoters. Cannot invite public to share capital. 2. Limits to Membership: Minimum members-2 Maximum members – 50 3. Election of Directors: No need for holding statutory meeting. [...]
A joint stock company and partnership form of organisations can be compared as under: Comparison # Joint Stock Company: 1. It has a separate legal entity, having its existence separate from its shareholders. 2. It may consist of any number of members. 3. Shares can be transferred to others without the consent of anybody. 4. It invests according to memorandum [...]
After reading this article you will learn about unlimited and limited liability of an organisation. Unlimited Liability: In this system, there is no maximum limit of capital which can be collected from debtors in the case of failure of business. The creditors may collect money even from the personal property of the owner. Because of the risk involved in this [...]