Business Structure

The formal struc­ture of a business. At the simplest level is a sole proprietor which is for small busi­nesses run by a single owner. A *partner­ ship is a business owned and controlled by two or more persons through a *part­nership agreement; it’-is widely used by professional practices, such as accountants and solicitors. including the largest firms. A *private limited company is one in which the liability of the owners is restricted to their shareholdings and the shares are not available to a wider public. A *public company (pk ), on the other hand, offers its shares for sale to the pub­lic and often has a very diverse mvner­ ship. A * cooperative is a business in which the ownership and control are held equally by its worker-members. The lat­ter is a more common form of business organization in continental Europe and may often be found in the agricultural sector.