Forms of Business

Organization

By Richa Gaur 1
 Forms of
Business
Organizations

Sole Joint Hindu

Partnership Cooperative Joint Stock
Proprietorship Family
Societies Company
Business

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Sole Proprietorship
“Sole” “only”,
“Proprietor” “owner”.
The form of business
organization which is owned,
managed and controlled by an
individual who is the sole
recipient of all profits and the
bearer of all risks.

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 Joint Hindu Family Business

It refers to a form of organization wherein the business is owned and carried

on by the members of the Hindu Undivided Family (HUF).
It is governed by the Hindu Law.
Only found in India.
Controlled by eldest member  Karta.
Other member Co-parceners. By Richa Gaur 4
 Partnership

Partnership is the relation between persons who have agreed to share the
profit of the business carried on by all or any one of them acting for all.
Nos. of partners Minimum 2 and Maximum 50.
The Indian Partnership Act, 1932.

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 Cooperative Societies

Working together and with others for a common purpose.

Cooperative Societies Act 1912.
The cooperative society is a voluntary association of persons, who join
together with the motive of welfare of the members.
Nos. of Members  Requires the consent of 10 adults.
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 Joint Stock Company

A company is an association of persons formed for carrying out business

activities and has a legal status independent of its members.
A company can be described as an artificial person having a separate legal
entity, perpetual succession and a common seal.
The company form of organization is governed by “The Companies Act, 2013”.

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Thank You

Queries & Doubts

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