Company Law and Types of corporate legal entities available in India
A corporate legal entity is a setup for running and managing a business. The various types of legal entities available in India for doing the business are: Sole Proprietorship One person Company Private Limited Company Public Limited Company Limited Liability Partnership Partnership firm Liaison Office Project Office The formation of a corporate legal entity in India is governed under the Company law through The Companies Act, 2013. A person can choose the suitable form depending upon: Nature of business Purpose/Objective of business Capital available and Cost of business Rules and regulations to be followed Managing the business Nature of liability Transfer of ownership Whether the company has to be continuous or temporary project-based Basic features: Sole proprietorship - It is suitable for small businesses and self-employed people. The business has one proprie