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EDP Module 55

EDP Module 55

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01/28/2011

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B
 NagendraPrasadMBA CMR-CBS
1
 
 
BU-EDP-Moudule-5
Module-5::·Various forms of Organization·
1.
 
Factors affecting selection of ownership form
:-
 Nature or type of business
 
Sole
pr
o
pri
eto
rship is b
e
s
t
 
 
R
equ
ir
e
s p
e
rs
onal
ski
ll
 
and
 
attent
i
on
 
 
P
a
r
tne
rship is b
e
s
t
s
u
i
ted
o
r m
ed
i
u
m sc
ale
b
u
si
ne
ss
F
inancial requirement
 
R
equ
ir
e
s fi
nan
ci
al
r
e
s
ou
rc
e
s
at
s
ta
r
t
i
ng
 
 
T
a
r
get
 
at
utu
r
e
 
ex
p
an
si
on
 
and
 
al
s
o
 
d
iv
e
rsific
at
i
on
 
 
F
o
r
ex
p
and
i
ng
b
u
si
ne
ss p
a
r
tne
rship is
t
h
e
b
e
s
t
 Li
a
bi
l
i
ty
 
 
E
v
e
r
y
c
o
mp
any
h
a
s
to
r
e
p
ay
i
t
s
l
i
a
bi
l
i
ty
 
to
i
t
s cr
ed
i
to
rs
 
E
v
e
r
y
 
ent
r
e
pr
eneu
r
l
i
a
b
le
 
to
cr
ed
i
to
r
at
s
ta
r
t
i
ng
 
o
f b
u
si
ne
ss
 
E
v
en
i
n
s
ole
pr
o
pri
eto
rship,
t
h
e
p
e
rs
on
 
o
r c
o
mp
any
h
a
s
to
c
lea
r his
la
bi
al
i
ty
 
at
 
t
h
e
 
t
im
e
 
o
f wi
nd
i
ng
 
o
f b
u
si
ne
ss
F
lex
ibi
l
i
ty
 
 
Sole
pr
o
pri
eto
rship is b
e
s
t
o
r
any
 
alte
r
at
i
on
s
o
r
de
cisi
on
m
a
ki
ng
 
 
I
n
p
a
r
tne
rship b
u
si
ne
ss f 
lex
ibi
l
i
ty
is v
e
r
y
 
d
iffic
ult
b
e
c
au
s
e
i
t
is
de
p
end
 
u
p
on
 
t
h
e
p
a
r
tne
rs
 
So
i
t
is m
ax
im
u
m i
n
s
ole
pr
o
pri
eto
rship
and
mi
n
im
u
m i
n
p
a
r
tne
rship
T
axat
i
on
 
 
B
ot
h s
ole
pr
o
pri
eto
rship
and
p
a
r
tne
rship f 
ollo
ws 
PROGRE
SS
IVE
 
TAX
 
SYS
TEM
(
PT
S)
 
 
PT
S
is
de
fi
ned
 
a
s
tax
r
ate
i
n
cr
ea
s
e
s wi
t
h i
n
cr
ea
s
e
s
o
f i
n
c
o
m
e
 
and
 
de
cr
ea
s
e
s wi
t
h
de
cr
ea
s
e
 
o
f i
n
c
o
m
e
 
C
ontrol
 
E
v
e
r
y
 
ent
r
e
pr
eneu
r sh
ould
h
a
s c
ont
r
ol
 
o
v
e
r his b
u
si
ne
ss
and
 
al
s
o
 s
a
crific
e
 
on
his r
etu
r
n
s
 
I
t
is p
o
ssib
le
i
n
s
ole
pr
o
pri
eto
rship
and
 
not
 
ea
si
ly
p
o
ssib
le
i
n
p
a
r
tne
rshipb
e
c
au
s
e
b
oa
r
d
 
o
d
ir
e
c
to
rs
a
r
e
 
ex
is
ted
 
 
B
 NagendraPrasadMBA CMR-CBS
2
 
 
BU-EDP-Moudule-5Survival or continuity
 
E
v
e
r
y
 
ent
r
e
pr
eneu
r
ex
p
e
c
t
s c
ont
i
nu
i
ty
 
o
f his b
u
si
ne
ss
 
W
i
t
h
out
b
u
si
ne
ss
t
h
e
c
o
mp
any
c
ant
s
u
rviv
e
 
Business secrets
 
M
a
i
nta
i
n
i
ng
b
u
si
ne
ss s
e
cr
et
s i
n
s
ole
pr
o
pri
eto
rship is v
e
r
y
 
ea
s
y
 
and
s
a
e
 wh
e
r
e
 
a
s i
n
p
a
r
tne
rship i
t
is
d
iffic
ulty
 
and
 
un
s
a
e
 
G
overnment rules and regulations
 
T
h
ey
 
a
r
e
m
andato
r
y
o
r r
unn
i
ng
 
o
any
c
o
mp
any
 
o
r firm
 
Sole
pr
o
pri
eto
rship is v
e
r
y
fr
ee
fr
o
m
all
r
ule
s
and
r
egulat
i
on
s
 
J
o
i
nt
c
o
mp
any
is
go
v
e
r
ned
b
y
r
ule
s
and
r
egulat
i
on
s
o
go
v
e
r
n
m
ent
 
Various form of ownership
1.
 
Sole proprietorship2
.
 
Partnership3
.
 
J
oint stock company4
.
 
C
ooperative organisationI
.
Sole proprietorshipDefinition
:
 
-
 
T
h
e
i
nd
ivi
dual
o
rm
o
f b
u
si
ne
ss
o
r
gan
is
at
i
on
is
an
 
o
r
gan
is
at
i
on
 
at
 
t
h
e
h
ead
which s
tand
s
and
i
nd
ivi
dual
 
a
s
t
h
e
 
one
wh
o
is r
e
sp
on
sib
le
, wh
o
 
d
ir
e
c
t
s i
t
s
o
p
e
r
at
i
on
s
and
h
e
 
alone
r
un
s
t
h
e
risk
o
f f 
a
i
lu
r
e.
 
V
arious features of role proprietorship are as follows:-
I
nd
ivi
dual
 
o
w
ne
rshipU
nl
imi
ted
 
l
i
a
bi
l
i
t
i
e
s
F
r
ee
fr
o
m
legal
o
rm
al
i
t
i
e
sLimi
ted
sc
o
p
e
 
o
o
p
e
r
at
i
on
 
P
e
rs
onal
i
nte
r
e
s
t
 
F
r
eedo
m
to
s
ta
r
t
 
and
 
to
 
end
 
M
ono
p
oly
 
on
pr
o
fi
t
 B
u
si
ne
ss s
e
cr
e
c
y
 
 
B
 NagendraPrasadMBA CMR-CBS
3
 
 
BU-EDP-Moudule-5Merits of sole proprietorship
 
R
eg
is
t
r
at
i
on
 
o
f firm is v
e
r
y
 
ea
s
y
 
 
I
t
 
doe
s
not
h
a
v
e
 
any
 
legal
o
rm
al
i
t
i
e
s
 
I
t
is c
o
s
tly
 
at
i
n
i
t
i
ally
 
 
I
t
h
a
s c
o
mp
lete
c
ont
r
ol
 
on
 
ent
ir
e
b
u
si
ne
ss
 
B
u
si
ne
ss s
e
cr
et
s is
ea
si
ly
pr
e
s
e
rv
ed
 
 
I
t
h
a
s m
ax
im
u
m
tax
b
ene
fi
t
s
 
I
t
 
a
chi
e
v
e
s b
ot
h pr
o
fi
t
s
and
 
lo
ss
e
s
equally
 
Demerits
Limi
ted
r
e
s
ou
rc
e
sL
a
ck
o
r f 
und
sCh
an
c
e
 
o
unl
imi
ted
 
l
i
a
bi
l
i
ty
 Hi
g
h risk
So
m
et
im
e
s r
etu
r
n
s sh
ould
b
e
s
a
crific
ed
 Limi
ted
m
anage
ri
al
 
a
bi
l
i
ty
 L
a
ck
o
f sp
e
ci
al
is
at
i
on
 Ch
an
c
e
 
o
un
c
e
r
ta
i
nty
 
Suitability
I
t
is s
u
i
ta
b
le
o
r f 
ollo
wi
ng
c
a
s
e
s
Z
 
W
h
e
r
e
b
u
si
ne
ss is
on
 
a
sm
all
sc
ale
 
Z
 
W
h
e
r
e
c
a
pi
tal
r
equ
ir
e
m
ent
s is v
e
r
y
sm
all
 
Z
 
W
h
e
r
e
pr
o
mp
tne
ss
o
de
cisi
on
s is v
e
r
y
imp
o
r
tant
 
Z
 
W
h
e
r
e
c
u
s
to
m
e
rs
de
m
and
p
e
rs
onal
 
attent
i
on
 
II
.
PartnershipDefinition:
 
-
p
a
r
tne
rship is
t
h
e
r
elat
i
on
b
et
w
een
p
e
rs
on
s wh
o
h
a
v
e
 
ag
r
eed
 
to
 sh
a
r
e
 
t
h
e
pr
o
fi
t
s
o
a
b
u
si
ne
ss c
a
rri
ed
 
on
b
y
 
all
 
o
r
any
 
o
t
h
e
m
a
c
t
i
on
o
r
all.
 
V
arious features of partnership are as follows
 
P
lu
r
al
i
ty
 
o
f p
e
rs
on
sC
ont
r
a
c
tual
r
elat
i
on
ship
E
x
is
ten
c
e
 
o
f b
u
si
ne
ss
P
r
o
fi
t
m
ot
iv
e
 
P
ri
n
cip
al
 
agent
r
elat
i
on
shipU
nl
imi
ted
 
l
i
a
bi
l
i
ty
 
R
e
s
t
ric
t
i
on
 
on
 
t
r
an
sf 
e
r
o
f i
nte
r
e
s
t
 
I
mp
l
i
ed
 
agen
c
y
 

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