Business Law: Types of Business Organizations and Their Formation

This presentation on Business Law covers the different types of business organizations and their legal formation process. It explains the advantages and disadvantages of each type of organization and how they are managed and funded. The presentation also highlights the importance of business laws in boosting the legal structure of businesses.

Business Law

TABLE OF CONTENTS
 Introduction
 Different types of business organization and its formation
 Business organizations managed and funded
 Conclusion
 References

INTRODUCTION
Business law covers those aspects that deals with process of forming business
organizations which helps in conducting busies activities in more impactful
manner. These laws deals over various perspective in relation to business
organizations.

Different types of business organisations
with their legal formation
Sole proprietorship: These organizations is owned by single owner known as sole
proprietor. They hold all responsibility in relation to activities taking place
within an organization and requires to manage debts and profit. Formation
process of these organizations requires to generate INHRC number and name is
required to start business.
Partnership firm: These are those organizations that has been formed with two or
more then two person comes together with common motive to earn profit.
Partnership organization has been formed through generating INHRC number
and partnership agreement is formed only when legal aspect like licensing is
involved within it.

CONTINUATION
Private organization: These are those organizations that has been formed through
complex process which include collecting document and submitting it to
Companies House.
Public organization: This organization uses Public Limited in the end. The
organization sells its shares in public. Formation of the organization involves
submitting digital signature of all owners, members of memorandum of
association and other importation documents.

Business organisations are managed and
funded with advantages and disadvantage
Advantages
In this organization profit earned is kept by owner themselves.
Formation process is less time consuming and money involved is minimum.
Disadvantage
At times funds arranging becomes very difficult for business organization of such
kind.
This makes organization face loss over activities handled by one person.

CONTINUE
Advantages
These organizations includes right of succession which makes organization to be
separate entity.
Business privacy is one of the advantages of private limited company

CONCLUSION
Business laws leads towards formation of various types of organizations in
organized manner which helps in boosting of business legal structure. This
presentation helps over defining about various kinds of business organizations.

REFRENCES
Halbert, T. and Ingulli, E., 2020. Law and ethics in the business
environment. Cengage Learning.
Katsos, J.E. and AlKafaji, Y., 2019. Business in war zones: how companies
promote peace in
Iraq. Journal of Business Ethics, 155(1), pp.41-56.
Mayer, C., 2018. Prosperity: Better business makes the greater good. Oxford University Press.

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