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At the end of the lesson the learners must be able to explain what is forms of ownership.  At the end of the lesson learners must be able to name all 8 forms of ownership.  At the end of the lesson learners must be able to explain the different forms ownership.

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Forms of ownership describes the way in which things will be done in the business -It states how the business will operate and how it will

There are five types of companies , namely sole trader, partnership, close corporation, non profit company and profit company( Private company, Personal liability company, public company and the state owned company.)

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This is the simplest form of business structure.  This is a business which is owned by only one person.

Advantages Disadvantages There are no legal requirements to starting this business.  All the decisions can only be taken by the owner.  It is inexpensive to start this form of ownership This business is usually not registered.

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This is a formal agreement by two or more people.  All partners share liabilities and profits equally

Advantages Disadvantages Partners share responsibility Unlimited liability of partners Greater financial strength Not a legal entity

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This is a form of ownership is not a public corporation.  The name of this form of ownership ends in CC The owners of the Close corporation are the members of it.

Advantages Disadvantages There is liability limitation Limited options for divesting stock Buyout of stock Limited option for capitalizing.

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This is a company which is incorporated for the public benefit.  The name of the company must end with NPC It must have at least three incorporators and three directors.  It may be registered with or without members.

Advantages  Disadvantages They do not pay tax. No lobbying or political campaigning Separate entity status You will use your money when opening this organisation.

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A private company has shareholders.  Their shares are not sold to the public.  Name of the company ends with  pty (ltd)

Advantages  Disadvantages No minimal capital Personal liability Limited liability They are subject to many legal requirements.

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This is a private company which is mainly used by associations such as lawyers.  The directors of this company are responsible for the debts of the company.  Name of the company ends with Inc.

Advantages  Disadvantaages Owners are free to decide how they want to distribute the profits of the members.  Separate legal entity There are no fixed rules Limited liability

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This a company which is publicly traded within the open market. 7members are required to start a public company.  The name of the company ends with limited.

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This is a company which has been created with no motives of making profit. It is a company which has been made to benefit the public.  There here`s to be less than 5 members in order for this company to be registered.  The company does not have employees but they only have volunteers.

BUSINESS STUDIES GRADE 10

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