Privately Held Company - Form of Organization

Form of Organization

See also: Types of business entity

Private 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:

    “The form of act or thought mattered nothing. The hymns of David, the plays of Shakespeare, the metaphysics of Descartes, the crimes of Borgia, the virtues of Antonine, the atheism of yesterday and the materialism of to-day, were all emanation of divine thought, doing their appointed work. It was the duty of the church to deal with them all, not as though they existed through a power hostile to the deity, but as instruments of the deity to work out his unrevealed ends.”
    —Henry Brooks Adams (1838–1918)

    “one loves only form,
    and form only comes
    into existence when
    the thing is born

    born of yourself,”
    —Charles Olson (1910–1970)

    “I will never accept that I got a free ride. It wasn’t free at all. My ancestors were brought here against their will. They were made to work and help build the country. I worked in the cotton fields from the age of seven. I worked in the laundry for twenty- three years. I worked for the national organization for nine years. I just retired from city government after twelve-and-a- half years.”
    —Johnnie Tillmon (b. 1926)