The document discusses different types of business organizations including sole proprietorships, partnerships, and corporations. Sole proprietorships are owned and managed by one individual, while partnerships involve two or more individuals who share profits and liability. Corporations are separate legal entities that can act as an individual and can be privately or publicly owned. The types of partnerships include general, limited, and limited liability partnerships. Privately owned corporations are known as C-corporations and publicly owned as S-corporations.

2. 1. BUSINESS ORGANIZATION
2. SOLE PROPRIETORSHIP
2.1. MERITS AND DRAWBACKS
2.2 LIABILITY
3. PARTNERSHIP
3.1. TYPES OF PARTNERSHIP
 GENERAL, LIMITED, LLP
3.2. ADVANTAGES AND DISADVANTAGES
4. CORPORATION
4.1. TYPES OF CORPORATIONS
 PRIVATE ( C ), PUBLIC ( S )
4.2. ADVANTAGES AND DISADVANTAGES
5.CONCLUSION
6.SOURCES
CONTENTS

3.  THE TERM THAT REFFERS TO ”HOW BUSINESS IS STRUCTURED”
 ENTEPRISE THAT PRODUCES GOODS OR PROVIDES SERVICES
IN ORDER TO MAKE A PROFIT
BUSINESS ORGANIZATION

4.  SIMPLEST FORM OF ORGANIZATION
 OWNERSHIP AND MANAGEMENT ARE IN CONTROL OF ONE
PERSON
 BOTH PROFIT AND RISK BELONG TO HIM
 THE PROPIETOR AND THE BUSINESS ARE SAME IN THE EYES
OF THE LAW
 LOCAL SHOP, GROCERY STORE, BARBERS, HAIRDRESSERS
SOLE PROPRIETORSHIP

5. ABSOLUTE AND BETTER CONTROL
EASY FORMATION AND CLOSURE
FEW REGULATIONS
OWNER ENJOYS ALL THE PROFITS
MERITS OF SOLE PROPRIETORSHIP

6. LIMITED FUNDS
LIMITED LIFE
UNLIMITED LIABILITY
DIFFICULT TO RAISE CAPITAL
DRAWBACKS OF SOLE PROPRIETORSHIP

7. ANYTHING FOR WHICH A COMPANY IS LEGALLY
BOUND OR OBLIGATED, AS TO MAKE GOOD
ANY LOSS OR DAMAGE THAT OCCURS IN A
TRANSACTION
TO BE RESPONSIBLE FOR SOMETHING
LIABILITY

8.  BUSINESS CO-OWNED BY TWO OR MORE PERSONS
WHO AGREE ON HOW RESPONSIBILITIES, PROFITS
AND LOSSES ARE DIVIDED
 RELATIONS BETWEEN THE PARTNERS ARE CREATED
IN A FROM OF CONTRACT
 PROFIT IS DIVIDED AS PREVIOUSLY AGREED
PARTNERSHIP

9. GENERAL
LIMITED
LIMITED LIABILITY PARTNERSHIP (LLP)
TYPES OF PARTNERSHIP

10.  AN ASSOCIATION OF TWO OR MORE PERSONS
 CREATED TO CARRY ON AS CO-OWNERS OF THE
PROFIT OF THE BUSINESS
 GENERAL PARTNERS SHARE EQUAL RIGHTS AND
RESPONSIBILITIES SO AS THE MANAGEMENT OF THE
BUSINESS
GENERAL PARTNERSHIP

11.  PARTNERSHIP IN WHICH 1 PERSON IS NOT ACTIVELY
INVOLVED IN THE DAY TO DAY RUNNING OF THE
BUSINESS
 THIS PARTNER IS ONLY LIABLE FOR WHAT HE/SHE
HAS INVESTED
LIMITED PARTNERSHIP

12.  LLP IS MANAGED BY ALL OF ITS MEMBERS
 INDIVIDUAL PARTNERS ARE NOT PERSONALLY RESPONSIBLE
FOR THE WRONGFUL ACTS OF OTHER PARTNERS
 INDIVIDUAL PARTNERS ARE NOT RESPONSIBLE FOR THE
DEBTS OR OBLIGATIONS OF THE BUSINESS
 NOT EVERY BUSINESS CAN BE LLP
 MEDICAL AND LAW FIRMS AND SO ON
LIMITED LIABILITY PARTNERSHIP
(LLP)

13. ADVANTAGES OF PARTNERSHIP
RELATIVLEY EASY TO START
THE ABILITY TO RAISE FUNDS
LOSS SHARING
SPECIALIZATION

14. UNLIMITED LIABILITY
SHARED PROFITS
JOINTLY MADE DECISIONS
POTENTIAL TO CONFLICT
HARD TO ADD OTHER PARTNERS
DISADVANTAGES OF PARTNERSHIP

15.  VOLUNTARY ASSOCIATION OF PEOPLE WHO CONTRIBUTE
MONEY TO CARRY ON BUSINESS
 A BUSINESS WITH THE AUTORITY TO ACT AS A SINGLE PERSON
(LEGALLY A PERSON)
 SEPARATE ENTITY FROM OWNERS
 OWNED BY NUMEROUS INDIVIDUALS
*CORPORATION=COMPANY IN THE USA
„ A COMPANY IS A PERSON, ARTIFICIAL,INVISIBLE,INTANGIBLE
AND EXISTING ONLY IN THE EYES OF LAW” - Justice Marshal
CORPORATIONS
(JOINT STOCK COMPANY)

16.  PRIVATE – IT CAN BE FORMED BY TWO OR MORE MEMBERS
AND THE MAXIMUM MEMBER NUMBER IS 50 –
C -CORPORATION
 PUBLIC – IT IS OPEN TO GENERAL PUBLIC, THE MINIMUM
NUMBER OF MEMBERS IS 7 AND THERE IS NO UPPER LIMIT
S-CORPORATION
TYPES OF CORPORATIONS

17. POSSIBILITY OF UNLIMITED LIFETIME
EASE OF TRANSFER OF OWNERSHIP
SHARED DECISION – MAKING
CAPITAL EASY OBTAINABLE
LIMITED LIABILITY TO SHAREHOLDERS
ADVANTAGES OF CORPORATIONS

18. MORE DIFFICULT TO FORM
DOUBLE TAXATION-PROFITS AND EARNINGS
EXCESSIVE GOVERNMENT REGULATION
DELAY IN POLICY DECISION
CONTROLED BY A GROUP
DISADVANTAGES OF
CORPORATIONS

19.  BUSINESS ORGANIZATIONS IN US ARE DIVIDED INTO
SOLE PROPRIETORSHIP, PARTNERSHIP AND
CORPORATIONS
 SOLE PROPRIETORSHIP IS MANAGED BY 1 PERSON
WHO MAKES ALL THE DECISIONS
 PARTNERSHIP IS OWNED BY 2 OR MORE PEOPLE 
GENERAL,LIMITED,LLP
 CORPORATION ACTS AS A SINGLE PERSON
SEPARATED FROM THE OWNERS PRIVATE, PUBLIC,
C-CORP; S-CORP.
CONCLUSION

20. TABLE

21.  WIKIPEDIA
 „ Entrepreneur ” web site
 „ Investopedia ” web site
 „ Business Dictionary.com ”
 Aaron Larson - ” What is a Limited Liability Company ”
 Dunja M.Vićan, Zlata Pavić, Branko Smerdel - „ English for
lawyers ”
SOURCES: