A trading concern is a form of business concern which is owned and managed by a single person for his exclusive benefit. This is also termed as sole proprietorship or individual entrepreneurship.
This is a form of business organisation formed by.two or more persons, in which some having capital and others having managerial ability, come together to form a partnership.
Joint hindu family firm
This is a form of business organisation wherein, the members of a family, particularly males descended from a common ancestor for three successive generations, jointly run a business under the guidance of the senior most member of the family who is called ‘Karta’.
Joint stock company
Joint Stock Company is a form of business organisation developed to remove the drawbacks of sole trading concern and partnership. It is an incorporated association, carrying a separate name and a common seal, formed with a view to carry on business for profit, with capital suitably divided into transferable shares of fixed value, limited liability and perpetual succession.
A Co-operative society is a form of business organisation, generally formed by the economically weaker sections of the society to protect themselves against the exploitations of the economically stronger sections. They voluntarily associate together on the basis of equality of opportunity and control, equity of distribution of profits and mutuality, for the promotion of their common economic interests.
These are business organisations formed for the purpose of arranging regular and efficient supplies of goods and services which are very essential to the entire or a large section of the public. These concerns operate mainly in the interests of the public, which are normally owned, managed and controlled by the State or Central Government to realise the social objective.
Public utilities are a special type of business organisation which is engaged in the supply of essential public services in a limited area on a monopolistic basis. They supply electricity, gas, water, transport and communication service which are indispensable for the public. They enjoy special privileges and operate under state regulation and control.