GILBERT L. LAPERAL IE 32 (1:30 3:30 PM) MEJARAN JR.

BSIE 3

November 14, 2012 ENGR. TEODORICO

1. Definition of Partnership in business, give examples and organizational chart.

Partnership
By the contract of Partnership, two or more persons bind themselves to contribute money, property, or industry to a common fund with the intention of dividing the profits among themselves. Two or more persons may also form a partnership for the exercise of a profession. A joint undertaking to share in the profit and loss. An association of two or more persons to carry on as co-owners of a business for profit.

Examples:
Trian Partners Levine Builders Providence Equity Partners Centerbridge Partners Proctor and Gamble

2. Definition of Corporation in business, give examples and organizational chart.

Corporation
An artificial being created by operation of law having the right of succession and the powers, attributes and the properties expressly authorized by law or incident to its existence. Its ownership interest comprised of share capital It is managed by Board of Directors.

Examples:
Liberty Corporation San Miguel Corporation Nippon Oil Corporation Nestl Westinghouse Electric Corporation