Types of company

24 January 2009 - 17:28

Next we see a generic summary of the different types from company or societies that we can choose at the time of setting up a company or business legally:

Types of company that can be constituted like Natural Person

When constituting a company like Natural Person, the unique type of company that we can choose is the one of a Unipersonal Company.

Unipersonal company

In this case the proprietor of the company or business assumes the legal capacity of the business, that is to say, assumes the rights and obligations in a personal view, and of limitless form.

It implies that it assumes the responsibility of the obligations that the company can contract, and it guarantees with the patrimony or personal goods to them that can own.

A Unipersonal Company has a single proprietor or denominated owner micro industralist, who is responsible for the handling of the company; examples of Unipersonal Companies occur in the case of the pharmacies, warehouses, restaurants, etc.

Types of company that can be constituted like Legal Person

When constituting a company like Legal Person, the types of company that we can choose are:

Company Individual de Responsabilidad Limitada (E.I.R.L)

In this chance the company must have a single proprietor or owner, denominated holder. Unlike the Unipersonal Company, the obligations are limited the patrimony of the company.

It works under a trade name and/or denomination. After the trade name, abbreviations E.I.R.L are due to consist, for example, “Jewelry shop Diamante E.I.R.L”.

Control units are holder (owner or proprietor), who would be the maximum organ of the company, and the management (organ in charge of the administration and representation of the company) that can be conformed by the same holder or another person.

Collective society (S.C)

It is an associative company set up by more than a person or partner, jeopardizes to participate in the management of the company with the same rights and obligations. Obligations that are limited only the capital contribution which they have realized.

He is formed by homogenous groups united by common interests, generally exists in her a familiar relation and of confidence.

He works under a trade name, does not have denomination. The trade name can be conformed by the names of all, or only of some or some of the partners; in both last cases, adding abbreviations S.C., for example, Arias and Villa S.C.

The capital is conformed by social participation, does not have action.

The control unit is in favor compound only of the General Meeting of Partners, does not have Directory nor Management. All the partners administer and represent the society.

Limited partnership or In silent partnership (S in C)

Company conformed by more of a partner, where also, the obligations are only limited the patrimony whereupon it counts the company.

It works under a trade name, does not have denomination.

The capital is conformed by social participation or action (Limited Partnership by action).

The control unit is in favor compound only of the General Meeting of Partners, does not have Directory nor Management. The partners comanditos administer and represent the society.

Limited liability company (limited liability company)

Legal company constituted by a minimum of 2 partners and a maximum of 20, where also, the obligations are limited the contributed capital.

It works under a trade name and/or denomination. After the name they must follow abbreviations limited liability company., for example, “Restaurant Taco limited liability company”.

The capital is represented by equal, cumulative and indivisible participation (it does not have action), those that cannot be incorporated in titles nor values.

The control units are made up of the General Meeting and the Management, does not have Directory. The administration and representation are in charge of one or more managers, being able being partners or no.

Joint-stock company (S.A.)

It is denominated to him anonymous not because it is not known who is the holder or proprietor of the actions, but because as the actions are negotiable and transferable, these can time and time again be endorsable or negotiable, but always it goes away that is to say who is the proprietor of the actions.

It works under a trade name and/or denomination, followed of abbreviations S.A.

The capital is conformed by action, not by social participation.

The control units are made up of the General, Directory Meeting (in the case of the Closed S.A. he is optional), Management and Advice of Monitoring (it occurs only in the Open S.A. when the number of 50 shareholders is greater of 50). The president of the Directory is the legal representative, the General Management is in charge of the administration.

Labels: Creation of businesses

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2. Steps to set up a company
3. Types of businesses
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