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The followings are some of the principles on which a co-operative organization stand:

A co-operative society is a voluntary association started with the aim of service of its members.

Memorandum of association is the fundamental charter which defines the aims and objectives of a company.

The following differences between a private company and a public company can be drawn:

A private company denotes a company of two or more persons, but not exceeding fifty excluding the employees and shareholder.

The word incorporation denotes giving recognition in the eyes of the law. A joint stock company does not enjoy the status of a legal entity until and unless it is incorporated.

After the receipt of certificate of incorporation, if the promoters of a public limited company wishes to issue shares to the public, he will issue a document called prospectus.

The process of conceiving an idea of starting a company and developing it into a concrete reality through incorporation is called promotion.

Joint stock company can be classified into different kinds from different angles and considerations.

The rights and obligations of the partners are described in the partnership deed. In the absence of a bonafide partnership deed, the provisions of the Partnership Act with regard to rights and obligations will apply.

Partnership comes into existence by an agreement between two or more persons called partners.

A joint stock company is a body corporate with a common seal and perpetual succession owned by a large number of persons known as shareholders who contribute capital to the company and it is being managed by the board of directors elected by the shareholders.

The emergence of joint stock company has been possible because of financial and operational deficiencies of the sole trading business and partnership firm.

Limited partnership is a type of partnership where at least one partner is a general partner whose liability is unlimited and others have limited liability.

The Distinguish between Partnership and Sole-Trade Business are:

The following are the disadvantages of Partnership: