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:
“In the name of Hippocrates, doctors have invented the most exquisite form of torture ever known to man: survival.”
—Luis Buñuel (1900–1983)
“Touch me not.”
—Bible: New Testament Jesus, in John, 20:17.
Spoken to Mary Magdalene, after Jesus has risen from the dead and made himself known to her. The words are best known in the Latin form in which they appear in the Vulgate: Noli me tangere.
“When a man’s partner’s killed, he’s supposed to do something about it. It doesn’t make any difference what you thought of him, he was your partner and you’re supposed to do something about it. As it happens, we’re in the detective business; well, when one of your organization gets killed, it’s, it’s bad business to let the killer get away with it. Bad all around. Bad for every detective everywhere.”
—John Huston (1906–1987)