Business

PRIVATE LIMITED COMPANY

Limited companies can be private or public. Unlike a publicly limited company, where shares are traded on the stock exchange, a private limited company does not publicly trade shares and is limited to a maximum of 50 shareholders.

LIMITED LAIBILITY PARTNERSHIP

LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. • The LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts and holding property in its own name

PARTNERSHIP DEED

Partnership deed is a written legal document that contains an agreement made between two individuals who have the intention of doing business with each other and share profits and losses. It is also called a partnership agreement.

HINDU UNDIVIDED FIRM

Under Hindu Law, an HUF is a family which consists of all persons lineally descended from a common ancestor and includes their wives and unmarried daughters. An HUF cannot be created under a contract, it is created automatically in a Hindu Family.

PROPRIETOR

A sole proprietorship is a business that can be owned and controlled by an individual, a company or a limited liability partnership. There are no partners in the business. The legal status of a sole proprietorship can be defined as follows: It is not a separate legal entity from the business owner.

SOCIETY CLUB TRUST AOP

An association consisting of two or more persons where individuals join together for a common purpose or a collective action. And an association must be one where the objective must be to produce income, profits or gains. An AOP comes into existence by the relationship formed between parties.