A business entity is an organization established as a separate entity for the purpose of conducting business. It functions independently of its owners and has its own legal rights and obligations.
A business organization refers to the legal structure of a particular business in terms of how it functions. Its purpose is central to its structure.
Bylaws are rules adopted for the regulation of an association's or a corporation's own actions. In corporation law, bylaws are self-imposed rules that constitute an agreement or contract between a corporation and its members to conduct the corporate business in a particular way.
CIO stands for Charitable Incorporated Organization. It is a type of incorporated organization designed for non-profit and charitable enterprises in the United Kingdom, allowing them to take legal actions and own property while providing liability protection for trustees and members.
A company structure where the liability of members is limited to a predetermined amount they agree to pay in the event of liquidation. This type of company does not issue shares to its members and differs significantly from other company structures like limited companies.
A Limited Liability Partnership (LLP) combines the benefits of traditional partnerships with limited liability. It provides flexibility in business operation while offering liability protection similar to corporations.
PC or P.C. stands for Personal Computer, typically referring to a general-purpose computer for individual use. It also stands for Professional Corporation, a legal business entity formed by certain professionals who provide licensed services in various fields.
An unincorporated association is a group of individuals who come together for a common purpose but do not form a corporation or any other legal entity. Their structure lacks a separate legal personality, meaning any legal actions must be taken against the individual members rather than the association itself.
