As per Lawkidunya, Here are the main types of corporate ownership as recognized by law:
1. Sole Proprietorship
A business owned and controlled by one individual, with unlimited personal liability.
2. Partnership
A business owned and controlled by two or more individuals, with shared profits and losses, and joint and several liability.
3. Limited Liability Partnership (LLP)
A hybrid structure combining elements of partnerships and corporations, with limited liability for partners.
4. Private Limited Company (PLC)
A company owned by private individuals or entities, with limited liability for shareholders, and restrictions on share transfer.
5. Public Limited Company (PLC)
A company owned by the public, with shares traded on a stock exchange, and limited liability for shareholders.
6. Joint Venture
A temporary partnership between two or more businesses to achieve a specific goal or project.
7. Cooperative
A business owned and controlled by its members, who share resources and benefits.
8. Limited Liability Company (LLC)
A hybrid structure combining elements of partnerships and corporations, with limited liability for owners.
9. Corporation
A separate legal entity from its owners, with limited liability for shareholders, and governed by a board of directors.
10. Trust
A fiduciary arrangement where one party holds assets for the benefit of another party.
These types of corporate ownership vary in terms of liability, taxation, governance, and ownership structure, and are recognized and regulated by laws in different jurisdictions.
