Sole proprietorship is a most popular form of business organisation which is exepted in India. Sole proprietorship is sutiable form for small businesses, especially for stratups and new Businesses in initial years of operation.
Partnership firm is the better solution than sole proprietorship. More Managerial skills and more capital help business to grow faster and bigger. The Partnership Firm govern under The “Indian Partnership Act, 1932.”
The law was formed with the view to ease of doing business and also help the partners to distinguish their personal asserts from business. One of the most important point is that one partner of the LLP is not liable for the misconduct and negligence of other partner.
One Person company has an advantage over the Sole Proprietorship concern. One Person Company safeguard the personal asserts of the Promoter from the liabilities of business.
Private Limited company is an association of persons formed for carrying out business activities and has a legal independent status.
In Public Limited Company, the shareholders of the company are the actual owners of the company while the Board of Directors is the chief managing body elected by the shareholders for the options of the company.