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LESSON : 1 MEANING, CHARACTERISTICS AND TYPES OF A …

(1) LESSON : 1 MEANING, CHARACTERISTICS AND TYPES OF A of of a between company and of Assessment reading this LESSON , you should be able to:(a)Define a company and explain its features.(b)Make a distribution between company and partnership firm.(c)Explain the various TYPES of has revolution led to the emergence of large scale businessorganizations. These organization require big investments and the risk involved is veryhigh. Limited resources and unlimited liability of partners are two important limitationsof partnerships of partnerships in undertaking big business. Joint Stock company formof business organization has become extremely popular as it provides a solution to(2)overcome the limitations of partnership business. The Multinational companies likeCoca-Cola and, General Motors have their investors and customers spread throughoutthe world. The giant Indian Companies may include the names like Reliance, TalcoBajaj Auto, Infosys Technologies, Hindustan Lever Ltd.

characteristics of a company . According to Chief Justice Marshall of USA, “A company is a person, artificial, invisible, intangible, and existing only in the contemplation of the law. Being a mere creature of law, it possesses only those properties which the character of its creation of its creation confers upon it either expressly or as ...

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