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There are three main forms of business: (a) Sole Proprietorship (b) Partnership (c) Company Sole Proprietorship; In a sole proprietorship, an individual on his/her own account carries out the business or profession. No formal procedure or formality is required for setting up a sole proprietary concern. Partnership
A sole proprietorship, also known as a sole tradership, individual entrepreneurship or proprietorship, is a type of enterprise owned and run by only one person and in which there is no legal distinction between the owner and the business entity. [1] A sole trader does not necessarily work alone and may employ other people. [2]
Self-employment provides work primarily for the founder of the business. The term entrepreneurship refers to all new businesses, including self-employment and businesses that never intend to grow big or become registered, but the term startup refers to new businesses that intend to provide work and income for more than the founders and intend to have employees and grow large.
Corporate law regulates how corporations, investors, shareholders, directors, employees, creditors, and other stakeholders such as consumers, the community, and the environment interact with one another. [1] Whilst the term company or business law is colloquially used interchangeably with corporate law, the term business law mostly refers to ...
A less severe form of involuntary termination is often referred to as a layoff (also redundancy or being made redundant in British English). A layoff is usually not strictly related to personal performance but instead due to economic cycles or the company's need to restructure itself, the firm itself going out of business, or a change in the function of the employer (for example, a certain ...
The creator of the corporation is typically the sole shareholder, [1] and thus the corporation is used as a means to reduce their personal liability, protect their assets and exploit taxation advantages. Loan-Out corporations are especially prominent in the entertainment and professional sports industries, as the creator's services are ...
A partnership carrying on business as insurance brokers and consisting of persons each of whom is a registered insurance broker or an enrolled body corporate. (For the meaning of 'registered insurance broker' and 'enrolled body corporate' see section 29(1) of the Insurance Brokers (Registration) Act 1977.)
The Tamil Nadu Re-Enacting and Repealing (No.1) Act, 1948; The Tamil Nadu Recognised Private Schools (Regulation) Act, 1973; The Tamil Nadu References to Magistrates in Laws (Special Provisions) Act, 1980; The Tamil Nadu Registration of Births and Deaths Act, 1899; The Tamil Nadu Registration of Practitioners of Integrated Medicine Act, 1956