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A business entity is an entity that is formed and administered as per corporate law [ citation needed ] There are many types of business entities defined in the legal systems of various countries. These include corporations, cooperatives, partnerships, sole traders, limited liability companies and other specifically permitted and labelled types of entities. The specific rules vary by country and by state or province. Some of these types are listed below, by country.in order to engage in business activities, charitable work, or other activities allowable. Most often, business entities are formed to sell a product or a service.
For guidance, approximate equivalents in the company law of English-speaking countries are given in most cases, for example:
However, the regulations governing particular types of entities, even those described as roughly equivalent, differ from jurisdiction to jurisdiction. When creating or restructuring a business, the legal responsibilities will depend on the type of business entity chosen.
Foreign and domestic investors have a range of opportunities to organize their business in Albania. They can either establish and register a business organization or establish and register a branch or representative office.The registration of foreign entities, since 1 September 2007, had been carried out at the National Registration Center, which aimed to implement the "one stop shop" system. Law No. 131/2015 dated 26 November 2015 made possible the creation of the National Business Center (QKB), whose purpose was to simplify the procedures of doing business in the country by enabling registration and licensing procedures in a single institution. As a result, the National Registration Center and the National Licensing Center were abolished.
See also help.gv.at (Austrian government site, in German)
|Name in Belarusian||Name in Russian||Type||Note|
|Адкрытае акцыянернае таварыства, ААТ||Открытое акционерное общество, ОАО||≈ plc (UK), open|
|Закрытае акцыянернае таварыства, ЗАТ||Закрытое акционерное общество, ЗАО||≈ plc (UK), closed|
|Індывідуальны прадпрымальнік||Индивидуальный предприниматель||sole proprietorship||does not possess legal personality|
|Прыватнае унітарнае прадпрыемства, ПУП||Частное унитарное предприятие, ЧУП||private unitary enterprise|
|Таварыства з абмежаванай адказнасцю, ТАА||Общество с ограниченной ответственностью, ООО||≈ Ltd. (UK)|
Dutch, French or German names may be used.
|private stichting||fondation privée||Private foundation|
|stichting van openbaar nut||fondation d'utilité publique||Public foundation|
|economisch samenwerkingsverband (ESV)||groupement d'intérêt économique (GIE)||Economic interest grouping (joint venture)|
|stille handelsvennootschap||société interne||contractual joint venture (No JV company is created)|
|tijdelijke handelsvennootschap||société momentanée||equity joint venture (JV company is created)|
|vereniging zonder winstoogmerk (VZW)||association sans but lucratif (ASBL)||German: Vereinigung ohne Gewinnerzielungsabsicht (VoG)|
|vereniging in deelneming||société en participation (SEP)||Equity partnership|
|feitelijke vereniging||société de fait||De facto partnership, partnership by estoppel|
|eenmanszaak||entreprise individuelle||Sole trader (UK), sole proprietorship (US)|
|vennootschap onder firma (VOF)||société en nom collectif (SNC)||General partnership|
|gewone commanditaire vennootschap (Comm. V.)||société en commandite simple (SCS)||Limited partnership|
|commanditaire vennootschap op aandelen (Comm. VA)||société en commandite par actions (SCA)||Publicly traded partnership|
|besloten vennootschap met beperkte aansprakelijkheid (BVBA)||société privée à responsabilité limitée (SPRL)||Private limited liability company|
|besloten vennootschap (BV)||société responsabilité limitée (SRL)||Private limited company|
|eenpersoons besloten vennootschap met beperkte aansprakelijkheid (EBVBA)||société privée à responsabilité limitée unipersonnelle (SPRLU)||single member limited company|
|Naamloze vennootschap (NV)||societé anonyme (SA)||Public limited company (UK)|
|coöperatieve vennootschap met beperkte aansprakelijkheid (CVBA)||société coopérative à responsabilité limitée (SCRL)||Limited liability cooperative|
|coöperatieve vennootschap met onbeperkte aansprakelijkheid (CVOA)||société coopérative à responsabilité illimitée (SCRI)||Unlimited liability cooperative|
Following changes to the Code of Companies and Associations, the term "Private limited liability company" (BVBA/SPRL) automatically became "Private limited company" (BV/SRL),as a part of harmonising legal entity types within the European Union.
There are three main types of business entity in Brunei, namely sole proprietorship, partnership and company.
A private company contains the term "Sendirian Berhad" or "Sdn. Bhd." as part of its name; for a public company "Berhad" or "Bhd." is used.
In Canada entities can be incorporated under either federal or provincial (or territorial) law.
The word or expression "Limited", Limitée, "Incorporated", Incorporée, "Corporation" or Société par actions de régime fédéral or the corresponding abbreviation "Ltd.", Ltée, "Inc.", "Corp." or S.A.R.F. forms part of the name of every entity incorporated under the Canada Business Corporations Act (R.S., 1985, c. C-44). ≈ Ltd. or Plc (UK)
As an exception, entities registered prior to 1985 may continue to be designated Société commerciale canadienne or by the abbreviation S.C.C.
Under the Canada Cooperatives Act (1998, c. 1), a co-operative must have the word "cooperative", "co-operative", "coop", "co-op", coopérative, "united" or "pool", or another grammatical form of any of those words, as part of its name.
Unlike in many other Western countries, Canadian businesses generally only have one form of incorporation available. Unlimited liability corporations can be formed in Alberta "AULC", British Columbia "BCULC"and Nova Scotia "NSULC". The aforementioned unlimited liability corporations are generally not used as operating business structures, but are instead used to create favorable tax positions for either Americans investing in Canada or vice versa. For U.S. tax purposes the ULC is classified as a disregarded entity.
Rather, Canadian businesses are generally formed under one of the following structures:
Types of legal person business entities:
Types of natural person business entities:
An SE or SCE may be created by registration in any of the EU/EEA member states and may relocate its registered office to any other member state with minimal formalities.
The abbreviations are usually in Finnish, but Swedish names may also be used either as is or in combination with Finnish, e.g. Oy Yritys Ab.
In the corporations of real estate law, the ownership or membership may be vested either in the real property or in a legal or natural person, depending on the corporation type. In many cases, the membership or ownership of such corporation is obligatory for a person or property that fulfils the legal requirements for membership or wishes to engage in certain activities.
In addition to native types, European Union types are implemented:
At most times usually companies would translate any of these designations into S.A. in non-Greek languages.
|y Cía. S. C. (Sociedad Colectiva)||General partnership|
|y Cía. S. en C. (Sociedad en Comandita Simple)|
|Cía. Ltda. (Sociedad de Responsabilidad Limitada)||Limited Liability Company|
|S. A. (Sociedad Anónima)||Limited company|
|Cía. S. C. A (Sociedad en Comandita por Acciones)|
In Hungary, business entities are mainly regulated by the Companies Act of 2006,the Companies Registration Act of 2006 and the new Civil Code of 2013. All companies are required to indicate their type in their name.
|e.v. (egyéni vállalkozó)||sole trader||must be a natural person|
|e.c. (egyéni cég)||sole venture||a company registered by and consisting of one sole trader|
|bt. (betéti társaság)||limited partnership||requires one general partner with unlimited liability and one or more members with limited liability|
|kkt. (közkereseti társaság)||general partnership||all members have unlimited liability|
|kft. (korlátolt felelősségű társaság)||limited liability company||company without stocks, the most common company type in Hungary|
|kht. (közhasznú társaság)||community interest company||abolished in 2009, must operate as nonprofit company instead|
|kv. (közös vállalat)||joint venture||abolished in 2006|
|rt. (részvénytársaság)||joint-stock company||replaced by Zrt. and Nyrt. in 2006|
|Nyrt. (nyilvánosan működő részvénytársaság)||public limited company||must be listed on a stock exchange|
|Zrt. (zártkörűen működő részvénytársaság)||privately held company||not listed on stock exchange, otherwise the same as Nyrt.|
|egyesülés||national version of European Economic Interest Grouping|
|ehf. einkahlutafélag||Ltd. (UK)|
|hf. hlutafélag||plc (UK)|
|ohf. opinbert hlutafélag||government-owned corporation|
|saf. samlagsfélag||limited partnership|
|sf. sameignarfélag||general partnership|
|sfs. sjálfseignarstofnun||non-profit organization|
Most of the legal entity types are regulated in a modified version of the original version of the Dutch Burgerlijk Wetboek .
Situation in Ireland is similar to United Kingdom below, though without the class Community Interest Company. There were two forms of Company Limited by Guarantee, but only the form without a share capital is now used. Irish names may also be used, such as cpt (cuideachta phoibli theoranta) for plc, and Teo (Teoranta) for Ltd.
Business corporations are referred to as kaisha (会社) and are formed under the Companies Act of 2005. There are currently (2015) 4 types and each of them has legal personality:
Partnerships are referred to as kumiai (組合). Each of these 4 types has no legal personality though other corporations, which include "kumiai" in their name, have:
Note: Any of these entities can be incorporated as a "Capital Variable" entity, in which case has to add the "de C.V." sufix to its company name. Example: "S.A. de C.V.", "S. de R.L. de C.V."
one of above mentioned form (Preduzetnik; O.D.; K.D.; A.D.; D.O.O.), as such it is registered in the Central Register of Companies. This form is a little bit specific and was created for companies that are domiciled registered in other countries and have its part in Montenegro.
All non-governmental legal entities are registered on the companies register of the chamber of commerce.
The Commercial Code establishes the following types of companies:
There are three main forms of business:
(a) Sole Proprietorship (b) Partnership (c) Company
In a sole proprietorship, an individual on his/her own account carries out the business or profession. No formal procedure or formality is required for setting up a sole proprietary concern.
A partnership is a business relationship entered into by a formal agreement between two or more persons or corporations carrying on a business in common. The capital for a partnership is provided by the partners who are liable for the total debts of the firms and who share the profits and losses of the business concern according to the terms of the partnership agreement.
Partnerships (other than banking companies) are generally limited in size to twenty partners. The interest of a partner is transferable only with the prior consent of the other partner(s). However, a partner's right to a share of the partnership income may be received in trust for another person.
For taxation purposes, partnerships are classified into:
(i) Registered Firms (ii) Unregistered Firms
The income of the registered firm is subject to Super Tax before distribution to the partners. Also the individual income of the partners is subject to income tax at the usual rates.
For unregistered firms, income tax is levied on the firm's income and the partners are not liable to pay tax on the shares of profit received from the unregistered firm(s).
A company is a legal entity formed under the Companies Ordinance, 1984. It can have share capital or can be formed without share capital.
A company having share capital may be formed as:
(i) A company limited by shares. (ii) A company limited by guarantee. (iii) An unlimited company.
The liability of its members is limited to the extent of their shares in the paid-up capital of the company. These companies may further be classified as public limited and private limited companies.
(i) Restricts the right to transfer its shares; (ii) Limits the number of its members to fifty; and; (iii) Prohibits any invitation to the public to subscribe for shares or debentures of the company.
A private limited company is required to use the words "(Private) Limited" as the last words of its name.
Means a company having the liability of its members limited by memorandum to such amounts as the members may respectively undertake to contribute to the capital of the company in the event of its winding up. A company limited by guarantee is usually formed on a 'non profit basis'. Companies limited by guarantee use the words (Guarantee) Limited" as the last words of their n Unlimited Company
Means a company having unlimited liability of its members
Older forms (now rarely used)
Except for the spółki osobowe (partnerships), all are juridical persons.
All the following types are juridical persons:
In addition, any juridical persons or other legal entities (including those originally or otherwise exempt from the registration in the KRS – see below) also have to register, if they are eligible and apply for (and obtain) the status of an officially recognized charity (organizacja pożytku publicznego = public benefit organization); however, as an exception, registration solely for that purpose neither confers juridical personality to entities lacking one, nor does it create obligation or right to register as an entrepreneur.
Types of businesses excluded from registration as entrepreneurs include the following.
Certain types of juridical persons or other collective legal entities which have been established otherwise than by registration in the KRS, may in few situations be authorized by law to perform business activity (sometimes of a limited scope and/or scale, along with their main, often non-commercial or not-for-profit activity), despite remaining excluded and exempt from the obligation to register in the KRS, but are still obligated to obtain NIP and REGON numbers by registering in the relevant registers, and are usually still subject to the general taxation rules (including VAT); examples of such situations include:
Some of the abovementioned types may be subject to registration in the KRS exclusively for the purpose of official recognition as a charity (public benefit organization).
Societăți comerciale, abbreviated SC (Companies):
limited liability company "societate cu raspundere limitata" (SRL); joint stock company "societate pe actiuni" (SA);
Private Limited Company, Sole Proprietorship and Partnership are the predominant types of business found in Singapore.
|AG (Aktiengesellschaft)||SA (Société anonyme)||SA (Società anonima)||≈ plc (UK) or Inc. (US). Min. share capital CHF 100,000. Bearer or registered shares, of a par value of min. CHF 0.01 each. Details of shareholders generally not publicly available (except for main shareholders and management shares of publicly listed companies).|
|GmbH (Gesellschaft mit beschränkter Haftung)||Sàrl (Société à responsabilité limitée)||Sagl (Società a garanzia limitata)||≈ Ltd. (UK), LLC (US). Min. capital CHF 20,000. Registered shares only, of a par value of min. CHF 100 each. Name, address and share of each owner (and any changes) publicly recorded in the Official Register of Commerce.<https://web.archive.org/web/20110706221252/http://www.zefix.admin.ch/%3E|
According to Code of Obligations (fifth book of Civil Code) (Act No: 6098):
According to the Commercial Code (Act No: 6102):
Şahıs şirketleri ≈ Partnerships (Unlike the partnerships in Anglo-American law, they also have legal personality like companies)
Sermaye şirketleri ≈ Companies
According to the Capital Markets Act (Act No: 6362):
According to the Cooperatives Act (Act No: 1136):
Company formation is regulated by the Ukrainian Civil Codeand Commercial Code, Law On Business Associations, Law On Joint Stock Companies, Law On Limited Liability Companies and Additional Liability Companies.
In the United States, most businesses are incorporated under the law of a particular state. The federal government does not generally incorporate entities, with a few narrow exceptions.
For federal tax purposes, the Internal Revenue Service has separate entity classification rules. Under the tax rules, an entity may be classified as a corporation, a partnership, a cooperative or a disregarded entity. A corporation is taxed as a C corporation unless it elects and meets the requirements to be taxed as a Subchapter S corporation. A disregarded entity has one owner (or a married couple as owner) that is not recognized for tax purposes as an entity separate from its owner. Types of disregarded entities include single-member LLCs; qualified sub-chapter S subsidiaries and qualified real estate investment trust subsidiaries. A disregarded entity's transparent tax status does not affect its status under state law. For example, for federal tax purposes, a sole-member LLC (SMLLC) is disregarded, so that all its assets and liabilities are treated as owned by its single member. But under state law, an SMLLC can contract in its own name and its owner is generally not personally liable for the debts and obligations of the entity.To be recognized as a Cooperative for tax purposes Cooperatives must follow certain rules under Sub Chapter T of the Internal Revenue Code.
Of the few types of companies that may exist under a federally issued charter, the bulk are banks, credit unions, and similar depository institutions. Such institutions are distinguished from state-chartered banks by including a key word in their formal names. For a bank, the key word is "national". A bank chartered by the Office of the Comptroller of the Currency (OCC) must have the word "national" in its name. A bank chartered by a state cannot have "national" in its name.
For a savings bank (formerly called a savings and loan association) or credit union, the key word is "federal", and the same rules apply; a federally chartered savings bank or credit union must have the word "federal" in its name, while a state chartered savings bank or credit union cannot have "federal" in its name.
Many federal governmental units are specially formed public corporations, while some private organizations have received a charter from Congress.
The following are the main business structures that can be created without licensure by the government:
Required designations for corporations, by U.S. state, territory or commonwealth:
|State, territory or commonwealth||Required in corporation name||Authority|
|Alabama||"corporation", or "incorporated", or an abbreviation of one of such words, or if a banking corporation the words "bank", "banking", or "bankers"||§ 10-2B-4.01(a)(1) Code of Alabama 1975|
|Alaska||"corporation", "company", "incorporated", or "limited", or an abbreviation of one of these words; may not contain the word "city", "borough", or "village" or otherwise imply that the corporation is a municipality.||§ 10.06.105 (a) and (b), Alaska Corporations Code|
|Arizona||"association", "bank", "company", "corporation", "limited" or "incorporated" or an abbreviation of one of these words or the equivalent in a foreign language. Corporation may not use "bank", "deposit", "credit union", "trust" or "trust company" unless it also has a license to operate one. May not use "limited liability company" or "limited company" or the abbreviations "L.L.C.", "L.C.", "LLC", or "LC"||§ 10-401 Arizona Revised Statutes|
|Arkansas||"Corporation", "Company", or "Incorporated", "Limited" or shall contain an abbreviation of one of those words; but the name may not end with the word "Company" nor the abbreviation "Co." if the final word or abbreviation is immediately preceded by "and" or any symbol for "and"||§ 4-26-401 (1), Arkansas Code|
|California||"corporation", "incorporated" or "limited" or an abbreviation of one of such words is required and for a statutory close corporations for corporate provisions to apply. May not contain "bank", "trust", "trustee" or "credit union" unless approved by the Commissioner of Financial Institutions.||§ 202(a), California Corporations Code|
|Colorado||"corporation", "incorporated", "company", "limited", "corp.", "inc.", "co." or "ltd"; If the corporation is a professional corporation, it must contain the term or abbreviation "professional corporation", "p.c.", or "pc".||§ 7-90-601, Colorado Revised Statutes|
|Connecticut||"corporation", "incorporated", "company", "Societa per Azioni" or "limited", or the abbreviation "corp.", "inc.", "co.", "S.p.A." or "ltd."||§ 33-655 General Statutes of Connecticut|
|Delaware||"association", "company", "corporation", "club", "foundation", "fund", "incorporated", "institute", "society", "union", "syndicate", or "limited", (or abbreviations thereof, with or without punctuation), or words (or abbreviations thereof, with or without punctuation) of like import of foreign countries or jurisdictions (provided they are written in Roman characters or letters)||Title 8, § 102, Delaware Code|
|District of Columbia||"corporation", "company", "incorporated", or "limited", or shall contain an abbreviation of 1 of such words||§ 29-101.08 District of Columbia Official Code|
|Florida||"corporation", "company", or "incorporated" or the abbreviation "Corp.", "Inc.", or "Co.", or the designation "Corp", "Inc", or "Co"||§ 607.0401 Florida Statutes|
|Georgia||'corporation,' 'incorporated,' 'company,' or 'limited,' or the abbreviation 'corp.,' 'inc.,' 'co.,' or 'ltd.,' or words or abbreviations of like import in another language; must not be longer than 80 characters||O.C.G.A. § 14-2-401|
|Guam||"corporation", "incorporated", "company", or "limited", or the abbreviation "corp.", "inc.", "co.", or "ltd.", or words or abbreviations of like import in another language; if the word "company" or its abbreviation is used, it shall not be immediately preceded by the word "and" or an abbreviation or symbol representing the word "and."||Title 18, § 2110, Guam Code Annotated|
|Hawaii||"corporation", "incorporated", or "limited", or the abbreviation "corp.", "inc.", or "ltd."||§ 414-51 Hawaii Revised Statutes|
|Idaho||"corporation", "incorporated", "company", "limited", or the abbreviation "corp.", "inc.", "co.", or "ltd.", or words or abbreviations of like import in another language; provided however, that if the word "company" or its abbreviation is used it shall not be immediately preceded by the word "and" or by an abbreviation of or symbol representing the word "and"||§ 30-1-401 Idaho Statutes|
|Illinois||"corporation", "company", "incorporated", or "limited", or an abbreviation of one of such words||805 ILCS 5/4.05 Illinois Compiled Statutes|
|Indiana||"corporation", "incorporated", "company", or "limited", or the abbreviation "corp.", "inc.", "co.", or "ltd.", or words or abbreviations of like import in another language||§ 23-1-23-1 Indiana Code|
|Iowa||"corporation", "incorporated", "company", or "limited", or the abbreviation "corp.", "inc.", "co.", or "ltd.", or words or abbreviations of like import in another language||§ 490.401 Iowa Acts|
|Kansas||(except for banks) "association", "church", "college", "company", "corporation", "club", "foundation", "fund", "incorporated", "institute", "society", "union", "university", "syndicate" or "limited", or one of the abbreviations "co.", "corp.", "inc.", "ltd.", or words or abbreviations of like import in other languages if they are written in Roman characters or letters||§ 17-6002 Kansas Statutes|
|Kentucky||"corporation", "incorporated" or the abbreviation "Inc.", or the word "company" or the abbreviation "Co."; but if the word "company" or the abbreviation "Co." is used, it may not be immediately preceded by the word "and" or the abbreviation "&."||§ 273.177 Kentucky Revised Statutes|
|Louisiana||(except for railroad, telegraph and telephone corporations) "Corporation", "Incorporated" or "Limited", or the abbreviation of any of those words, or may contain instead the word "Company" or the abbreviation "Co." if the latter word or abbreviation is not immediately preceded by the word "and" or the symbol "&". No corporate name shall contain the phrase "doing business as" or the abbreviation "d/b/a". Only a bank or bank holding company is allowed to use any of "bank", "banker", "banking", "savings", "safe deposit", "trust", "trustee", "building and loan", "homestead", "credit union", "insurance", "casualty", "redevelopment corporation", or "electric cooperative".||§ 12:23 Louisiana Revised Statutes|
|Maine||words or abbreviations of words that describe the nature of the entity, including "professional association", "corporation", "company", "incorporated", "chartered", "limited", "limited partnership", "limited liability company", "professional limited liability company", "limited liability partnership", "registered limited liability partnership", "service corporation" or "professional corporation"; beginning July 1, 2007, may also include "limited liability limited partnership"||for business corporations: Title 13-C § 401 Maine Revised Statutes; for non-profit corporations: Title 13-B § 301-A Maine Revised Statutes|
|Maryland||For Corporations: "Company", if it is not preceded by the word "and" or a symbol for the word "and"; "Corporation", "Incorporated" or "Limited" or abbreviations; for Limited liability companies: "limited liability company", "L.L.C.", "LLC", "L.C.", or "LC"; for Limited liability partnerships: "limited liability partnership", "L.L.P." or "LLP"; for Limited partnerships: "limited partnership", "L.P.", or "LP"; for Limited liability limited partnerships: "limited liability limited partnership", "L.L.L.P.", or "LLLP"; for Professional corporations: "chartered", "chtd.", "professional association", "P.A.", "professional corporation", or "P.C."||Maryland Code – Corporations and Associations § 1-502|
|Massachusetts||any name which, in the judgment of the secretary, indicates that it is a corporation||General Laws Of Massachusetts – Chapter 155: Section 9|
|Michigan||"corporation", "company", "incorporated", or "limited" or shall contain 1 of the following abbreviations, corp., co., inc., or ltd.||Act 284 of 1972 Section 450.1211 Michigan Business Corporation Act|
|Minnesota||nonprofit corporations are not required to use any of these words; for business corporations, they must use "corporation", "incorporated", or "limited", or shall contain an abbreviation of one or more of these words, or the word "company" or the abbreviation "Co." if that word or abbreviation is not immediately preceded by the word "and" or the character "&"||Chapter 302A, Section 302A.115 Minnesota Statutes (for Business Corporations); Chapter 317A, Section 317A.115 Minnesota Statutes (for non-profit corporations)|
|Mississippi||"corporation", "incorporated", "company" or "limited", or the abbreviation "corp.", "inc.", "co." or "ltd." or words or abbreviations of like import in another language||§ 79-4-4.01 Mississippi code|
|Missouri||"corporation", "company", "incorporated", or "limited", or shall end with an abbreviation of one of said words|
Chapter 351 Section 351.110 Missouri Revised Statutes
|Montana||"corporation", "incorporated", "company", or "limited"; the abbreviation "corp.", "inc.", "co.", or "ltd."; or words or abbreviations of similar meaning in another language||35-1-308 Montana Code Annotated|
|Nebraska||corporation, incorporated, company, or limited, or the abbreviation corp., inc., co., or ltd., or words or abbreviations of like import in another language, except that a corporation organized to conduct a banking business under the Nebraska Banking Act may use a name which includes the word bank without using any such words or abbreviations||Section 21-2028 State of Nebraska Statutes|
|Nevada||No specific requirements stated except that a name appearing to be that of a natural person and containing a given name or initials must not be used as a corporate name except with an additional word or words such as "Incorporated", "Limited", "Inc.", "Ltd.", "Company", "Co.", "Corporation", "Corp.", or other word which identifies it as not being a natural person||78.035 Nevada Revised Statutes|
|New Hampshire||Contain the word "corporation", "incorporated", or "limited" or the abbreviation "corp.", "inc.", or "ltd."||New Hampshire Revised Statutes – Title XXVII; Section 293-A:4.01 for business corporations|
|New Jersey||Shall contain the word "corporation", "company", "incorporated", or shall contain an abbreviation of one of those words, or shall include the abbreviation Ltd.||New Jersey Statutes 14A:2-2|
|New Mexico||contain the separate word "corporation", "company", "incorporated" or "limited" or shall contain a separate abbreviation of one of these words||New Mexico Statutes Unannotated 53-11-7|
|New York||Shall contain the word "corporation", "incorporated" or "limited", or an abbreviation of one of such words; there is also a long list of words a business corporation is not allowed to use without additional approval from other agencies including "board of trade", "state police", "urban development", "chamber of commerce", "state trooper", "urban relocation", "community renewal", "tenant relocation", "acceptance", "endowment", "loan", "annuity", "fidelity", "mortgage", "assurance", "finance", "savings" and many others||New York State Consolidated Laws, Business Corporations Law § 301; Not-For-Profit Corporations Law, § 301|
|North Carolina||a corporation must contain the word "corporation", "incorporated", "company", or "limited", or the abbreviation "corp.", "inc.", "co.", or "ltd."; a limited liability company must contain the words "limited liability company" or the abbreviation "L.L.C." or "LLC", or the combination "ltd. liability co.", "limited liability co.", or "ltd. liability company"; a limited partnership that is not a limited liability limited partnership must contain the words "limited partnership", the abbreviation "L.P." or "LP", or the combination "ltd. partnership"; a limited liability limited partnership must contain the words "registered limited liability limited partnership" or "limited liability limited partnership" or the abbreviation "L.L.L.P.", "R.L.L.L.P.", "LLLP", or "RLLLP"; a registered limited liability partnership's name must contain the words "registered limited liability partnership" or "limited liability partnership" or the abbreviation "L.L.P.", "R.L.L.P.", "LLP" or "RLLP".||North Carolina General Statutes § 55D‑20|
|North Dakota||must contain the word "company", "corporation", "incorporated", "limited", or an abbreviation of one or more of these words; may not contain the words "limited liability company", "limited partnership", "limited liability partnership", "limited liability limited partnership", or any abbreviation of these words.||North Dakota century Code 10–19.1-13|
|Ohio||It shall end with or include the word or abbreviation "company", "co.", "corporation", "corp.", "incorporated", or "inc."||Ohio Revised Code § 1701.05|
|Oklahoma||The name of the corporation which shall contain one of the words "association", "company", "corporation", "club", "foundation", "fund", "incorporated", "institute", "society", "union", "syndicate", or "limited" or abbreviations thereof, with or without punctuation||Oklahoma Statutes § 18-1006|
|Oregon||For private corporations it shall contain one or more of the words "corporation", "incorporated", "company" or "limited" or an abbreviation of one or more of those words; shall not contain the word "cooperative." For non-profit corporations there is no specific requirement except the name cannot imply a purpose not dictated in its articles of incorporation and cannot contain the word "cooperative" or the phrase "limited partnership."||Oregon Revised Statutes 60.094 for Private Corporations; ORS 65.094 for Non-Profit corporations|
|Pennsylvania||Corporation, Corp., Company, Co., Incorporated, Inc., Limited, Ltd., Association., Fund., Syndicate or words or abbreviations of like import in languages other than English||Pennsylvania Code, Chapter 19, § 23.3|
|Puerto Rico||Corporation, Corp. or Inc., or words or abbreviations of like import in other languages, provided they are written in roman letters or characters||Title 14, Subtitle 4, § 2602, Laws of Puerto Rico.|
|Rhode Island||"corporation", "company", "incorporated", or "limited", or an abbreviation of one of these words||Rhode Island General Laws § 7–1.2-401|
|South Carolina||"corporation", "incorporated", "company", or "limited", the abbreviation "corp.", "inc.", "co.", or "ltd.", or words or abbreviations of like import in another language||South Carolina Code of Laws Section 33-4-101|
|South Dakota||corporation, incorporated, company, or limited, or the abbreviation, corp., inc., co., or ltd., or terms or abbreviations of like import in another language||South Dakota Codified Laws 47-1A-401|
|Tennessee||"corporation", "incorporated", "company", or the abbreviation "corp.", "inc.", "co.", or words or abbreviations of like import in another language (provided they are written in Roman characters or letters); existing corporations which were formed using only "limited" or "ltd" are not required to change their name||§ 48-14-101 Tennessee Code|
|Texas||"company", "corporation", "incorporated", or "limited", or an abbreviation of one of those words.||Texas Business Organizations Code § 5.054|
|U.S. Virgin Islands||name shall be such as to indicate that it is a corporation as distinguished from a natural person or partnership.||Title Thirteen, § 2, Virgin Islands Code|
|Utah||"corporation", "incorporated", "company"; the abbreviation: "corp.", "inc." or "co." or words or abbreviations of like import to the words or abbreviations listed in another language; without the written consent of the United States Olympic Committee, may not contain the words "Olympic", "Olympiad", or "Citius Altius Fortius"; without the written consent of the Division of Consumer Protection may not contain the words "university", "college" or "institute"||§ 16-10a-401 Utah Code|
|Vermont||"corporation", "incorporated", "company", or "limited", or the abbreviation "corp.", "inc.", "co.", or "ltd.", or words or abbreviations of like import in another language; shall not have the word "cooperative" or any abbreviation thereof as part of its name unless the corporation is a worker cooperative corporation||Title 11A, § 4.01 Vermont Statutes|
|Virginia||"corporation", "incorporated", "company", or "limited", or the abbreviation "corp.", "inc.", "co.", or "ltd."||§ 13.1-630. Code of Virginia|
|Washington||"corporation", "incorporated", "company", or "limited", or the abbreviation "corp.", "inc.", "co.", or "ltd."; must not include "Bank", "banking", "banker", "trust", "cooperative", or any combination of the words "industrial" and "loan", or any combination of any two or more of the words "building", "savings", "loan", "home", "association", and "society"||§ 23B.04.010 Revised Code of Washington|
|West Virginia||"corporation", "incorporated", "company" or "limited", or the abbreviation "corp.", "inc.", "co." or "ltd.", or words or abbreviations of like import in another language||§ 31D-4-401 West Virginia Code|
|Wisconsin||"corporation", "incorporated", "company" or "limited" or the abbreviation "corp.", "inc.", "co." or "ltd." or words or abbreviations of like import in another language||§ 180.0401 Wisconsin Statutes (for Stock corporations) and § 181.0401 Wisconsin Statutes (for non-stock corporations)|
|Wyoming||Unclear; apparently any of "corporation", "company", "incorporated", and probably the usual abbreviations of "Corp." "Co." and "Inc."||§ 17-16-401 Wyoming Statutes|
A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity and recognized as such in law for certain purposes. Early incorporated entities were established by charter. Most jurisdictions now allow the creation of new corporations through registration. Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects: by whether they can issue stock, or by whether they are formed to make a profit. Depending on the number of owners, a corporation can be classified as aggregate or sole.
A public limited company is a type of public company under United Kingdom company law, some Commonwealth jurisdictions, and the Republic of Ireland. It is a limited liability company whose shares may be freely sold and traded to the public, with a minimum share capital of £50,000 and usually with the letters PLC after its name. Similar companies in the United States are called publicly traded companies. Public limited companies will also have a separate legal identity.
Business is the activity of making one's living or making money by producing or buying and selling products. Simply put, it is "any activity or enterprise entered into for profit."
S.A. or SA designates a type of public company in certain countries, most of which have a Romance language as its official language and employ civil law. An SA is roughly equivalent to a public limited company in United Kingdom company law and a public company in United States corporate law. Originally, shareholders could be literally anonymous and collect dividends by surrendering coupons attached to their share certificates. Dividends were therefore paid to whoever held the certificate. Share certificates could be transferred privately, and therefore the management of the company would not necessarily know who owned its shares.
A limited liability company (LLC) is the US-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. An LLC is not a corporation under state law; it is a legal form of a company that provides limited liability to its owners in many jurisdictions. LLCs are well known for the flexibility that they provide to business owners; depending on the situation, an LLC may elect to use corporate tax rules instead of being treated as a partnership, and, under certain circumstances, LLCs may be organized as not-for-profit. In certain U.S. states, businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a similar entity called a professional limited liability company (PLLC).
A joint-stock company is a business entity in which shares of the company's stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares. Shareholders are able to transfer their shares to others without any effects to the continued existence of the company.
Incorporation is the formation of a new corporation. The corporation may be a business, a nonprofit organization, sports club, or a government of a new city or town.
In a limited company, the liability of members or subscribers of the company is limited to what they have invested or guaranteed to the company. Limited companies may be limited by shares or by guarantee. The former may be further divided in public companies and private companies. Who may become a member of a private limited company is restricted by law and by the company's rules. In contrast, anyone may buy shares in a public limited company.
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to access a new market, particularly emerging markets; to gain scale efficiencies by combining assets and operations; to share risk for major investments or projects; or to access skills and capabilities. Work by Reuer and Leiblein challenged the claim that joint ventures minimize downside risk.
A limited liability partnership (LLP) is a partnership in which some or all partners have limited liabilities. It therefore can exhibit elements of partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner's misconduct or negligence. This is an important difference from the traditional partnership under the UK Partnership Act 1890, in which each partner has joint liability. In an LLP, some or all partners have a form of limited liability similar to that of the shareholders of a corporation. Unlike corporate shareholders, the partners have the power to manage the business directly. In contrast, corporate shareholders must elect a board of directors under the laws of various state charters. The board organizes itself and hires corporate officers who then have as "corporate" individuals the legal responsibility to manage the corporation in the corporation's best interest. An LLP also contains a different level of tax liability from that of a corporation.
A sole proprietorship, also known as a sole tradership, individual entrepreneurship or proprietorship, is a type of enterprise owned and run by one person and in which there is no legal distinction between the owner and the business entity. A sole trader does not necessarily work "alone"—it is possible for the sole trader to employ other people.
A private limited company is any type of business entity in "private" ownership used in many jurisdictions, in contrast to a publicly listed company, with some differences from country to country. Examples include the LLC in the United States, private company limited by shares in the United Kingdom, GmbH in Germany and Austria, société à responsabilité limitée in France, and sociedad de responsabilidad limitada in the Spanish-speaking world. The benefit of having a private limited company is that there is limited liability. However, shares can only be sold to shareholders in the business, which means that it can be difficult to liquidate such a company.
Naamloze vennootschap or Société anonyme (SA) is a type of public company defined by business law in the Netherlands, Belgium, Indonesia, and Suriname. The company is owned by shareholders, and the company's shares are not registered to certain owners, so that they may be traded on the public stock market.
A privately held company or private company is a company which does not offer or trade its company stock (shares) to the general public on the stock market exchanges, but rather the company's stock is offered, owned and traded or exchanged privately or over-the-counter. In the case of a close corporation, there are a relatively small number of shareholders or company members. Related terms are closely held corporation, unquoted company, and unlisted company.
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as:
A besloten vennootschap or sometimes B.V., or Société à responsabilité limitée (SRL), is the Dutch and Belgian version of a private limited liability company. The company is owned by shareholders, and the company’s shares are privately registered and not freely transferable. It is the most common form of limited company in the Netherlands and Belgium.
The United Kingdom company law regulates corporations formed under the Companies Act 2006. Also governed by the Insolvency Act 1986, the UK Corporate Governance Code, European Union Directives and court cases, the company is the primary legal vehicle to organise and run business. Tracing their modern history to the late Industrial Revolution, public companies now employ more people and generate more of wealth in the United Kingdom economy than any other form of organisation. The United Kingdom was the first country to draft modern corporation statutes, where through a simple registration procedure any investors could incorporate, limit liability to their commercial creditors in the event of business insolvency, and where management was delegated to a centralised board of directors. An influential model within Europe, the Commonwealth and as an international standard setter, UK law has always given people broad freedom to design the internal company rules, so long as the mandatory minimum rights of investors under its legislation are complied with.
For United States income tax purposes, a business entity may elect to be treated either as a corporation or as other than a corporation. This entity classification election is made by filing Internal Revenue Service Form 8832. Absent filing the form, a default classification applies. U.S. corporations of the type that can be publicly traded must be treated as corporations. There is a list of specific foreign entities that must be treated as corporations. The election is effective for Federal income tax purposes.
South African company law is that body of rules which regulates corporations formed under the Companies Act. A company is a business organisation which earns income by the production or sale of goods or services. This entry also covers rules by which partnerships and trusts are governed in South Africa, together with cooperatives and sole proprietorships.
United Arab Emirates corporate law regulates the governance, finance and power of corporations in the United Arab Emirates (UAE) through UAE law. Every emirate has its own basic corporate code.
The commercial name should bear Omani Joint Stock Company (S.A.O.G)