DEFINITIONS
A person who has total ownership of and responsibility for managing his /her business
What is:
Sole trader or Sole Proprietor
Minimum of 2 to 20 members
What is:
Partnership
These are actions taken by organizations to purchase most or all the shares of another corporate organization.
What is:
Mergers, Acquisitions & Takeovers
Management:
The Board of Directors is elected by the shareholders at the Annual General Meeting
What is:
Public Limited Company or
Cooperative
There are no legal formalities involved in setting up a business, except that a trade name must be registered and some traders must acquire special licenses.
What is: Sole trader/proprietor
A business entity that has been incorporated, that is, the company has a legal identity from that of its owner.
What is:
A company
They are legal entities and the state is the only shareholder.
What is:
Nationalized Industries
An agreement between an established company in which permission is given to conduct business in a prescribed or specific manner.
What is:
Franchise
Expatriates with limited local inputs manage the subsidiaries of _______________.
What is:
Transnational or Multinational firms
Each member purchases shares to form the capital base of the business.
What is: Co-operative
An incorporated business organization consisting of 2 to 50 members whose aim is to make a profit.
What is:
Private Limited Companies
There must be at least 7 shareholders with no maximum number of shareholders.
What is:
Public limited Company
A business arrangement in which two (2) or more parties agree to pool their resources for the purpose of accomplishing a specific task.
What is:
Joint Venture
Managed by the owners or persons appointed by the owners.
What is:
Private Limited Company
A company becomes ________ when the government purchases all or the majority of shares in the company
What is:
nationalized
Independent organizations set up by the Government to carry out a service.
What is:
State Corporations
Shares are traded openly in the stock market.
What is:
Public Limited Company
or
Joint Stock Company
This is an invitation to the public to buy shares in a public company.
What is:
Prospectus
A Board of Directors is appointed.
The Board of Directors reports to a Minister of Government.
An Executive Director heads the company.
What is:
Nationalized Industries.
The office where certain legal documents should be submitted for both private and public limited companies.
What is:
Registrar of Companies
Network of firms which operates in multiple countries.
What is:
MULTINATIONAL CORPORATIONS
The company must be registered with the Registrar of Companies.
What is:
Private Limited Company & Public Limited Company
This governs the company's relationship with the outside world. It contains the objectives of the company etc.
What is:
Memorandum of Association
List the documents to be submitted for the public Companies.
- Memorandum of Association
- The Articles of Association
- Statement of Authorized, Registered or Nominal Capital
- Prospectus
Formed by legislation, that is, by passing a law in parliament.
What is:
State Corporation & Nationalized Industries