Forms of business organizationBusin

Forms of business organization
Businesses can be organized in the variety of ways. The three most common types are sole proprietorships, partnerships and corporations.
The simplest way to organize the business alone is to form a sole proprietorship. An individual raises some money, finds the location from which to operate, and starts selling a product or service, lie makes decisions, hires and fires, controls the profits and losses himself. It allows putting policies to effect quickly. But a sole proprietor also has a risk - unlimited liability for matters relating to business. It means that he is responsible for all the obligations and debts of his business. So if the business fails the sole proprietor will have to declare personal bankruptcy. Although unlimited liability is a major disadvantage of a proprietorship, liability insurance is often available to reduce the risk of losing business and nonbusiness assets.
Two or more people may join together to form a partnership to carry on the business for profit. They can do it on an informal basis without a written partnership agreement, or on the contract basis. This contract describes all the rights and obligations of each partner, the amount of the invested money, the allocation of future profits and losses, the duties in the company and other matters. It is called articles of partnership. If you have no money to invest, you may contribute your services, skills, knowledge, sometimes just your name or reputation. Each partner is liable for the activities of the partnership as a whole, and is responsible for all the partnership’s debts. There are different classes of partners: general - active participants in the management of the business, who have unlimited liability; limited partners - who are liable only for the amount they invested into business; secret partners - who are not known to the public but have the right to make decisions and to vote; and silent partners - who are known to the public but without authority in management. All the partners should pay taxes, but the partnership itself is not taxed because the income merely passes through partnerships to the partners.

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Формы организации бизнесаПредприятия могут быть организованы в различными способами. Тремя наиболее распространенными видами являются единоличной, товариществ и корпораций.Простейший способ организации только бизнес является для формирования индивидуального предпринимателя. Индивидуальные поднимает деньги, находит место, с которого для работы, и начинает продавать продукт или услугу, ложь принимает решения, нанимает и пожаров, сам контролирует прибылей и убытков. Она позволяет быстро положить политики эффект. Однако предприниматель также имеет риск - неограниченная ответственность за вопросы, касающиеся бизнеса. Это означает, что он отвечает за все обязательства и долги своего бизнеса. Так что, если бизнес не единственный собственник придется объявить личного банкротства. Несмотря на неограниченную ответственность является основным недостатком собственности, страхование ответственности часто доступны для снижения риска потери бизнеса и нерабочие активы.Two or more people may join together to form a partnership to carry on the business for profit. They can do it on an informal basis without a written partnership agreement, or on the contract basis. This contract describes all the rights and obligations of each partner, the amount of the invested money, the allocation of future profits and losses, the duties in the company and other matters. It is called articles of partnership. If you have no money to invest, you may contribute your services, skills, knowledge, sometimes just your name or reputation. Each partner is liable for the activities of the partnership as a whole, and is responsible for all the partnership’s debts. There are different classes of partners: general - active participants in the management of the business, who have unlimited liability; limited partners - who are liable only for the amount they invested into business; secret partners - who are not known to the public but have the right to make decisions and to vote; and silent partners - who are known to the public but without authority in management. All the partners should pay taxes, but the partnership itself is not taxed because the income merely passes through partnerships to the partners.