Company form of Business Organisation
Telangana Open School (TOSS) · Class 12 · Business Studies
Complete topic list for Company form of Business Organisation in Telangana Open School (TOSS) Class 12 Business Studies. Key concepts, sub-topics, and what to focus on for board exams.
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Topics in Company form of Business Organisation
Meaning and Definition of a Company
- A company is an artificial person created by law with a separate legal identity.
- It is formed under the Companies Act, 2013, and must be registered to exist legally.
- According to Prof. L.H. Haney, a company is 'an artificial person created by law, having separate entity, with a perpetual succession and common seal.'
Characteristic Features of a Company
- Incorporated association: Must be registered under the Companies Act.
- Separate legal entity: Distinct from its members; can own property and sue/be sued.
- Artificial person: Exists only in law, not a natural being.
Types of Companies
- Private Company: Minimum 2 members, maximum 200, restricted share transfer, cannot invite public subscription.
- Public Company: Minimum 7 members, no upper limit, free transfer of shares, can issue shares to public.
- One Person Company (OPC): Only one member, must be an Indian citizen and resident.
Merits and Limitations of a Company
- Merits: Large resources, limited liability, perpetual existence, professional management, easy transfer of shares, scope for R&D.
- Limitations: Difficult formation, excessive government control, delay in decision-making, lack of secrecy, risk of monopoly.
Key Concepts
Central concept: Company Form of Business Organisation
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Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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