MEMORANDUM OF ASSOCIATION

    MEMORANDUM OF ASSOCIATION     # What is a Memorandum of Association ??? Memorandum of association is the most important documents of a company. It is the charter or constitution of the company. It lays down the powers and objects of the company as well as the scope of operations of the company beyond which it […]

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COMPANY PROMOTION

MEANINGS OF PROMOTION  and PROMOTER PROMOTION is the process of exploring, investigation, planning, and organisation of resources with the purpose of setting up a business enterprise. It refers to a series of business activities by which a business enterprise is brought into existence. According to C.W.GERSTENBERG, promotion is the discovery of business opportunities and the subsequent organisation of funds property […]

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LEGAL PROCEDURE OF FORMATION OF A COMPANY

  ALL LEGAL PROCEDURES HOW A COMPANY  IS INCORPORATED : JOINT STOCK COMPANY  a legal entity. It has to follow the procedure for its formation. The law does not interfere in the establishment of a sole proprietorship and partnership. These forms of business organisation may and may not be registered. These forms of business organisation may and may not […]

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PRIVATE and PUBLIC COMPANIES

DEFINITION OF PRIVATE COMPANIES A private company means a company which: 1. Restricts the right of members to transfer its shares. 2. Has a minimum of 2 and a maximum of 50 members, excluding the present and past employees, does not invite the public to subscribe to its capital and must have a minimum paid up capital […]

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KINDS OF PARTNERSHIP FIRM

  TYPES OF PARTNERSHIP FIRMS 1.  PARTNERSHIP AT WILL 2.PARTICULAR PARTNERSHIP 3.JOINT VENTURE There can be two kinds of partnership firms, namely 1. A general partnership ,2. The limited partnership in the general firm, all partners have unlimited liability. Partnership as will, particular partnership and joint ventures are the examples of general partnership but in the limited firm, […]

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LEGAL FORMS OF ORGANISATION

                JOINT STOCK COMPANY A joint stock company is a voluntary association of individuals for profits, having a capital divided into transferable shares, the ownership of which is the condition of ownership. JUSTICE MARSHALL has defined a company “ AS A PERSON, ARTIFICAL, INVISIBLE, INTANGIBLE, and  EXISTING ONLY THE […]

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LEGAL FORMS OF ORGANISATION

PARTNERSHIP The limitation and deficiency of a sole trader are that lack of limited financial resources, limited managerial skills and concentrated risk led to the emergence of partnership as a form of organisation. When two or more persons join together in business with common ownership and management under an agreement, it is known as a PARTNERSHIP. PARTNERSHIP MEANS […]

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LEGAL FORMS OF ORGANISATION

SOLE PROPRIETORSHIP A business enterprise may be run by one person or group of person. When it is owned by one person, it is known as a sole proprietorship. Excepting this form of organisation, all other forms of business organisations come under the category of ‘group ownership’ or ‘joint ownership’. GROUP ownership may take the form of operative […]

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SETTING UP A NEW BUSINESS ENTERPRISE

   BEGINNING   NEW BUSINESS VENTURE  Starting a new business enterprise is not an easy job to do. It is a job as complex as difficult as the birth of a  newborn boy. The entrepreneurs have to act both as a mother and a midwife. It is an entrepreneur who conceives the business idea, faces various difficulties in creating a new […]

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