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What are the similiarities and differences between cooperative business and joint stock business
The difference between employers liability and public liability are simple. Employer liability insurance covers only claims made by the employees against the company. Public liability covers claims against the company by the general public as well as third parties claims.
Legal Structure: Cooperative society is a legal entity that is owned and operated by its members; while Limited Liability Company (LLC) is a legal entity that is owned and operated by its shareholders. Ownership: In a cooperative society, members collectively own the company, and each member has an equal say in the decision-making process. In an LLC, ownership is based on the number of shares each shareholder owns. Profit Distribution: In a cooperative society, profits are distributed among the members based on their participation and usage. In contrast, LLCs distribute profits equally among their shareholders based on the number of shares they own. Capital Requirements: Cooperative societies do not require significant capital investment to start or operate; while LLCs require more capital to start and operate. Liability: Members of a cooperative society have limited liability as they are not personally liable for the debts of the company. On the other hand, shareholders in an LLC also have limited liability, but their personal assets may be at risk if the company goes bankrupt.
Ltd is an abbreviation for Limited Liability; a limited company has limits to its liability; if the company goes bankrupt, or is sued, the liability does not extend to the shareholders in the company. A non-limited company; usually sole traders or partnerships, has unlimited liability - if a plumber floods your house, he is liable and you can sue him. Most non-limited companies have insurance to cover this kind of eventualility.
The mail difference is of liability of share holder. In Limited or Pvt. Ltd. co. the liability of a share holder is limited to the extent of his share and in proprietorship firm the liability is 100% as this is of one man show. - Deepak Srivastava
LLC-Limited Liability Company LTD-limited company: a company that is organized to give its owners limited liability or- A private company limited by shares is a type of company incorporated under the laws of England and Wales, Scotland, that of certain Commonwealth ...
The liability of owners is limited to the extent of their contribution is Limited companies whereas in other forms of business the liability of owners is unlimited.
Limited liability is a type of liability that cannot exceed the amount that has been invested in a partnership or limited liability company. Limited liability protects personal assets from the risk of being seized to satisfy creditor's claims, debts and other obligations. For privately or publicly held corporations, a shareholder's responsibility for the company's debts is limited to the par value of paid up shares. The company itself as a legal entity is liable for the rest. A cooperative is a jointly owned enterprise engaged in production and distribution of goods, supplying services, farmers, or building ownership. It has no such protection unless it takes the legal steps necessary to form a business entity that can access limited liability.
A company can be a limited or unlimited. Limited liability company is one which limits the liability of the members(shareholders) by (1) limited by shares or (2) limited by guarantee. Therefore Company limited by guarantee is a type of limited company which means the liability of the members' is limited by the guarantee given by them while becoming the member. The members have agreed to be liable to the company at the time of liquidation of the company upto an amount for which he is liable and does not have any other liability. Limited by shares means the member (shareholder) is liable for the value of the shares only. Members of the company with unlimited liability has unlimited liability for which they are liable even from their personal property if required.
Ltd is a private company that is limited by shares incorporated. An LLC is not a corporation but a legal form of a company that provides limited liability to its owners.
A company can be a limited or unlimited. Limited liability company is one which limits the liability of the members(shareholders) by (1) limited by shares or (2) limited by guarantee. Therefore Company limited by guarantee is a type of limited company which means the liability of the members' is limited by the guarantee given by them while becoming the member. The members have agreed to be liable to the company at the time of liquidation of the company upto an amount for which he is liable and does not have any other liability. Limited by shares means the member (shareholder) is liable for the value of the shares only. Members of the company with unlimited liability has unlimited liability for which they are liable even from their personal property if required.
A company can be a limited or unlimited. Limited liability company is one which limits the liability of the members(shareholders) by (1) limited by shares or (2) limited by guarantee. Therefore Company limited by guarantee is a type of limited company which means the liability of the members' is limited by the guarantee given by them while becoming the member. The members have agreed to be liable to the company at the time of liquidation of the company upto an amount for which he is liable and does not have any other liability. Limited by shares means the member (shareholder) is liable for the value of the shares only. Members of the company with unlimited liability has unlimited liability for which they are liable even from their personal property if required.