There are 1 owner, unlimted liability, captial provided by owner, owner gets profit, risks are high, there are no legal requirements.
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Partnership Facts.
Number of owners: 2 -20, unlimted liability, however sleeping partner has limted liabilty, captial is rprovided by partners, the profits gets split by may be split according to amount invested. The risk are high and there is no legal requirements.
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LTD Facts.
There is a unlimted number of shareholders, there is limted liabilty, capital is provided by share holders, the profit goes to share holders, the risks are low and there is legal requirements.
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PLC Facts.
There is a unlimted number of shareholders, there is limted liabilty, capital is provided by share holders, the profit goes to share holders, the risks are low and there is legal requirements
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LTD and PLC legal requirements.
Registration under Companies Act Memorandum and Articles of Association. Then recieve a Certificate of Incorporation. PLC also recevies Certificate of trading/ incorporation.
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Franchise Facts.
Franchisor owns the name and the Franchisee owns the premises. They may have un/limted liabilty but depends on set up, may be sole tarder, ltd. The capital is provided by the Franhisee. The profit goes to the Franchisee, Franchisor paid royalities-
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Other cards in this set
Card 2
Front
Partnership Facts.
Back
Number of owners: 2 -20, unlimted liability, however sleeping partner has limted liabilty, captial is rprovided by partners, the profits gets split by may be split according to amount invested. The risk are high and there is no legal requirements.
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