Form of Organization
See also: Types of business entityPrivate companies may be called corporations, limited companies, limited liability companies, unlimited companies, or other names, depending on where and how they are organized. In the United States, but not generally in the United Kingdom, the term is also extended to partnerships, sole proprietorships or business trusts. Each of these categories may have additional requirements and restrictions that may impact reporting requirements, income tax liabilities, governmental obligations, employee relations, marketing opportunities, and other business decisions.
In many countries, there are forms of organization which are restricted to and are commonly used by private companies, for example the private company limited by shares in the United Kingdom (abbreviated Ltd) or private unlimited company and the proprietary limited company (abbreviated Pty Ltd) or unlimited proprietary company (abbreviated Pty) in Australia.
Read more about this topic: Privately Held Company
Famous quotes containing the words form of, form and/or organization:
“After all, crime is only a left-handed form of human endeavor.”
—Ben Maddow (1909–1992)
“As for the terms good and bad, they indicate no positive quality in things regarded in themselves, but are merely modes of thinking, or notions which we form from the comparison of things with one another. Thus one and the same thing can be at the same time good, bad, and indifferent. For instance music is good for him that is melancholy, bad for him who mourns; for him who is deaf, it is neither good nor bad.”
—Baruch (Benedict)
“Unless a group of workers know their work is under surveillance, that they are being rated as fairly as human beings, with the fallibility that goes with human judgment, can rate them, and that at least an attempt is made to measure their worth to an organization in relative terms, they are likely to sink back on length of service as the sole reason for retention and promotion.”
—Mary Barnett Gilson (1877–?)