LEGAL FORMS OF BUSINESS

Legal Forms  Self-employed /Sole proprietorship and Partnership  Limited liability  Mutuals  Non-profit organizations

Sole Proprietorship and Partnerships  Sole proprietorship (self-employed, feelancer)  The easiest and cheapest way  The owners totally in control  The business easy to dissolve  Partnership  Agreement of two or more people on owning the business  Ideas, money, property  Equal rights and responsibilities

Limited Liability  Ltd. Limited  Limited liability –shareholders, proprietor  PLC Public limited company  Anyone can sell buy shares  Inc. Incorporated (especially in the US)  A corporation with a limited liability

Mutuals  Based on mutuality → investment from members  Life insurance companies  Building societies  No shareholders

Non-Profit Organizations  Charities  Volunteer work  Organized by paid professionals  Fund-raising  Donations

Sources  LEIBY, P., S. Types of Partnership. [online]. 2012, [citováno ]. Available on WWW: legal-structures/types-of-partnerships.html legal-structures/types-of-partnerships.html  MASCULL, B. Business Vocabulary in Use Intermediate. CUP p. ISBN  SMALLBUSINESSNOTES. The Legal Form of a Small Business. [online]. 2012, [citováno ]. Available on WWW: business/the-legal-form-of-a-small-business.html business/the-legal-form-of-a-small-business.html