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The structure of business that we choose to register our firm is very important. Following are the structures with the features generally by which a firm is registered.
LLP: LLP business structure is chosen, by businesses that want to operate based on partnership, by keeping their personal assets safe, and without going through much of the formalities of a company. The main feature that distinguishes LLP from a Partnership structure are the limited liability and the perpetual succession feature. Limited Liability means that the partners cannot be made liable personally for any business debts thereby, keeping the personal asset safe. And the perpetual succession makes the business unbothered by the changes in its partnership structure. One more distinct feature is that it acts as a separate legal entity, different from those of its partners. The minimum no. of people required to start an LLP is two, and there is no cap on the maximum no. of members. The functions, profit-sharing and all the important aspects relating to running the business are mentioned in the LLP Agreement, which governs how the partnership would operate:
It is governed by:
A: Limited Liability Act, 2008
B: Limited Liability Partnership Rule, 2009
C: LLP Agreement
Partnership : The Partnership Business Structure does not have limited liability separate legal entity, or even perpetual succession these features can lead to multiple benefits like building more trust between the partners. A partnership requires a minimum of two partners and maximum there can be 20 partners It does not have as much compliance as that of an LLP to be registered. It is represented by its partner and does not act as a separate legal entity, change in partners completely alters the business methodology. It operates on a contractual basis between the partners which is governed by the Partnership Deed. Partnership Business is governed by:
A: Indian Partnership Act, 1932
B: Partnership Deed
What else can I help you with?
Explain and contrast an entrepreneurial business structure with a functional business structure giving an example of the business that might use each structure?
ok ok ok
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The business environment is the combination of internal and external factors that influence its operation. The structure of the business environment is dependent on the specific type of business.
What is the business structure of Ram Ram India?
The business Ram Ram India is operational in multi-dimensional business activities. This requires the business to subscribe to a professional and pro active business structure.
What Form Of Business Structure Should My Business Have?
As there are a large number of alternatives for your business entity, it's recommended that you seek legal counsel and professional accounting recommendation in selecting a business structure.
Which Kind Of Business Structure Should My Business Have?
As you will find numerous options for the business, it's highly suggested that you simply seek a lawyer and professional accounting advice in selecting a business structure.
Is sole proprietorship the most common business legal structure in the US?
No...an llc is the most common business legel structure in the US.
What is the organisation structure of the international business?
wat is international business and domestic business and wat are the differences
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database structure depends on the business requirement and size of database. database structure depends on the business requirement and size of database.
What is a business that has a vertical business structure?
yes a business need business plan and you find it in this kind of link http://thisisneatlatifouro.active.ws
What is the business structure of Kmart in Australia?
What_is_the_business_structure_of_Kmart_in_Australia
