Types of companies: Difference between revisions
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("types of companies" is the second most popular search phrase (right after simply consumerium) that gets us traffic from the search engines so i'm putting some brief characteristics here of each) |
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<tt>Consumerium does not offer legal advice so we take no responsibilty of any errors in this page nor the damage those errors might cause you or your loved ones so sue someone else if you really must</tt> | |||
* [[Limited Liability Company]] or [[LLC]] (also [[LTD]] in UK_en and [[Inc]] in US-en ) | |||
* [[Genral Partnership]] | ==[[Public Limited Liability Complany]] or [[PLC]]== | ||
* [[Limited Partnership]] | (also [[Inc]] in US_en) | ||
* [[Sole Trader]] | *Publicly tradeable shares | ||
*The owners are _not_ liable for legal actions and debts the company may face | |||
*Managed by a [[CEO]] elected by a [[Board of Directors]] (Board) which in turn is elected by the [[share holder]]s in scheduled [[share holder meeting|meetings]]. | |||
*Extra share holder meetings can usually be called up if enough share holders deem it necessary for some reason | |||
*Usually listed in one or many [[w:Stock exchange]]s | |||
*Rules of stock exchanges define some minimums to capital, cash flow and market value for PLCs to be viable for trading | |||
==[[Limited Liability Company]] or [[LLC]]== | |||
(also [[LTD]] in UK_en and [[Inc]] in US-en) | |||
*Non-publicly tradeable shares | |||
*The owners are _not_ liable for legal actions and debts the company may face | |||
*Managed by a [[CEO]] elected by a [[Board of Directors]] (Board) which in turn is elected by the [[share holder]]s in scheduled [[share holder meeting|meetings]]. | |||
*Extra share holder meetings can usually be called up if enough share holders deem it necessary for some reason | |||
==[[Genral Partnership]]== | |||
*Formed by two or more persons | |||
*The owners are all liable for legal actions and debts the company may face _personally_ | |||
==[[Limited Partnership]]== | |||
*Like a General Partnership exept for the fact that there is/are so called '''silent partners''' who just invest capital into the business and are not liable for legal actions and debts the company may face | |||
==[[Sole Trader]]== | |||
*A sole trader is liable for legal actions and debts personally | |||
I think these last ones are not so commonplace | I think these last ones are not so commonplace | ||
==[[Co-operative]]== | |||
* [[Limited Liability Partnership]] (In UK at least, very new) | *Owned and managed collectively by the Workforce (?) | ||
==[[Limited Liability Partnership]]== (In UK at least, very new) | |||
*You'll have to see the UK law books about this one | |||
Revision as of 09:41, 15 October 2003
Consumerium does not offer legal advice so we take no responsibilty of any errors in this page nor the damage those errors might cause you or your loved ones so sue someone else if you really must
Public Limited Liability Complany or PLC
(also Inc in US_en)
- Publicly tradeable shares
- The owners are _not_ liable for legal actions and debts the company may face
- Managed by a CEO elected by a Board of Directors (Board) which in turn is elected by the share holders in scheduled meetings.
- Extra share holder meetings can usually be called up if enough share holders deem it necessary for some reason
- Usually listed in one or many w:Stock exchanges
- Rules of stock exchanges define some minimums to capital, cash flow and market value for PLCs to be viable for trading
Limited Liability Company or LLC
(also LTD in UK_en and Inc in US-en)
- Non-publicly tradeable shares
- The owners are _not_ liable for legal actions and debts the company may face
- Managed by a CEO elected by a Board of Directors (Board) which in turn is elected by the share holders in scheduled meetings.
- Extra share holder meetings can usually be called up if enough share holders deem it necessary for some reason
Genral Partnership
- Formed by two or more persons
- The owners are all liable for legal actions and debts the company may face _personally_
Limited Partnership
- Like a General Partnership exept for the fact that there is/are so called silent partners who just invest capital into the business and are not liable for legal actions and debts the company may face
Sole Trader
- A sole trader is liable for legal actions and debts personally
I think these last ones are not so commonplace
Co-operative
- Owned and managed collectively by the Workforce (?)
==Limited Liability Partnership== (In UK at least, very new)
- You'll have to see the UK law books about this one