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Creado por katie.swift.ks
hace más de 10 años
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Pregunta | Respuesta |
Unincorporated Business | No distinction in the law between the owner and the business itself. E.g. sole traders or partnerships. |
Incorporated Business | The business and owner have separate identities in the law. E.g. private or public limited. |
Unlimited Liability | A situation in which owners of a business are liable for all the debts that the business may incur. |
Limited Liability | A situation in which the liability of owners of a business is limited to the fully paid-up value of the share capital. |
Sole Trader | A business owned by one person. Can operate on their own or they may choose to employ people. |
Partnership | A form of business in which 2 or more people operate for a common goal of making a profit. |
Private Limited Company | A small to medium-sized business that is usually run by family or a small group of individuals who own it. |
Public Limited Company | A business with limited liability, a share capital over £50,000 with at least 2 shareholders, 2 directors, a qualified company secretary and a wide spread of shareholders. It has plc after its name. |
Ownership | Providing fiance and therefore taking risks. |
Control | Managing the organisation and making decisions. |
Stakeholders | Any group of individuals with an interest in the business. This includes employees, customers and the local community. |
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