GCSE Business

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Sole Trader Facts.
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 name, Franchisee owns premises, liailty of owners depends on set up. Capital provided by Franchisee. The profit goes to Franchisee. Franchisor pays royalties - % of profits. The risks are low. The legal requirements depends on set up.
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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.

Card 3

Front

LTD Facts.

Back

Preview of the front of card 3

Card 4

Front

PLC Facts.

Back

Preview of the front of card 4

Card 5

Front

LTD and PLC legal requirements.

Back

Preview of the front of card 5
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