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Before starting a business, the entrepreneur must select a business structure considering its feasibility, merits, demerits, public acceptance and image of different types of business.
Limited Company, Limited Liability Partnership (LLP), Partnership Firm and Sole Proprietorship are the forms of business structures available in India.
Company and LLP are the incorporated business structures and Partnership Firm and Sole Proprietorship are the unincorporated structures.
Incorporated business structures have certain advantages over unincorporated business such as Limited Liability, perpetual existence, protection of Personal Assets form business risks and better credibility.
Limited Liability Partnership (LLP)
Private Limited Company (PVT LTD)
Public Limited Company
Conversion of Business into Company
• Proprietorship into Company
• Partnership Firm into Company
• Pvt. Ltd. into Public Ltd.