Business Legal Structures

Description

AS level Business Unit 1 Mind Map on Business Legal Structures, created by demi_preece123 on 30/03/2014.
demi_preece123
Mind Map by demi_preece123, updated more than 1 year ago
demi_preece123
Created by demi_preece123 over 10 years ago
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Resource summary

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