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 lefthanded form of human endeavor.”
—John Huston (1906–1987)
“I find in most novels no imagination at all. They seem to think the highest form of the novel is to write about marriage, because that’s the most important thing there is for middle-class people.”
—Gore Vidal (b. 1925)
“Prostitution is the most hideous of the afflictions produced by the unequal distribution of the world’s goods; this infamy stigmatizes the human species and bears witness against the social organization far more than does crime.”
—Flora Tristan (1803–1844)