Business Ownership Flashcards
What is a company with LTD in its title?
a private limited company
What is a private limited company?
A company with shareholders and limited liability
What is a partnership?
Two people in a business with unlimited liability
What are the pros of Partnerships?
Shared responsibility, More investment, Not working = Business still earning
What are the cons of Partnerships?
Have to share profits, your not in complete control, more expensive to set up
What is a company with PLC in its title?
A public limited company
What is a public limited company?
A company with shareholders and limited liability
What is a public limited company?
A company with shareholders and limited liability
What are the pros of public limited companies?
You can sell shares on the stock market - more investment, Greater reputation since they are usually a medium or large business
What are the pros of a private limited company?
You can keep control by keeping a majority of the shares, Opportunity for additional investment
What are the pros of a private limited company?
You can keep control by keeping a majority of the shares, Opportunity for additional investment
