Business Success always depends on how one organization and follow-up to meet the desired goals. Business can be organized in various forms such as sole proprietorship, partnership, limited company (one person Enterprises- OPC, private limited company or public limited company) or a limited liability partnership (LLP) company.
While choosing a business organization, one must have an understanding of the different types of business structures, advantages and disadvantages, and suitability need to work etc.
In India, there are several forms, and business organizations in the sense sole proprietorship, partnership Co., Limited and Limited Liability Partnership (LLP).
Basically these organizations are classified in the structures incorporated and personal. Company LLP and business organizations are included, partnership and personal institution is a company the individual structures. The establishment of business structures established under the relevant laws such as the Companies Act and the law of a law firm and will be treated as separate legal entities.
The establishment of a partnership agreement between the partners and the partnership is governed by law. It is not mandatory to register the partnership, even if it has been registered under the Partnership Act, it does not give a legal status. An individual can start a sole proprietorship by opening a bank account at a bank. Individual institution does not require registration.
Business structures have certain advantages listed on the individual businesses.