693304
Description
Mind Map by demi_preece123, updated more than 1 year ago
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Created by demi_preece123
about 10 years ago
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Business Legal Structures
- SOLE TRADER
- minimum 1 owner
keep all the profits
invest their own capital
unlimited liability
- minimum 1 owner
keep all the profits
invest their own capital
unlimited liability
- RETAIL CO-OPERATIVE
- group of people
supplies customers
with lower prices
lacks loyalty from
members
- group of people
supplies customers
with lower prices
lacks loyalty from
members
- PARTNERSHIP
- (minimum) 2-20 owners
shared responsibilities
shared profits & hours
1 sleeping partner
unlimited liability
- (minimum) 2-20 owners
shared responsibilities
shared profits & hours
1 sleeping partner
unlimited liability
- PRIVATE LIMITED COMPANY
- (minimum) 2-50
owners
manufacturer or
chain of retailers
high legal standards
capital (investors)
shares shared
equally - dividance
- (minimum) 2-50
owners
manufacturer or
chain of retailers
high legal standards
capital (investors)
shares shared
equally - dividance
- PUBLIC LIMITED COMPANY
- (minimum) 2 owners
- unlimited
maufacturer or chain
of retailers original
owners may lose
control - can be sued
£50,000 minimum
share capital limited
liability
- (minimum) 2 owners
- unlimited
maufacturer or chain
of retailers original
owners may lose
control - can be sued
£50,000 minimum
share capital limited
liability
- WORKERS CO-OPERATIVE
- self managed by workers
ignores others abilities and skills
open market
- self managed by workers
ignores others abilities and skills
open market
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