Entrepreneurship ch 2
Storyboard Descripción
story board on joint stock company
Texto del Guión Gráfico
- I plan to start a vegetable chips manufacturing company in our country. I think it will be a much better alternative for people who follow a healthy lifestyle but crave for snacks.
- So, what do you plan on doing now?
- Joint stock company? What is that? I don't know much about it as I am a BS.C Nutrition graduate.
- Since the size of your business is large-scale, why don't you go with joint stock company?
- Sorry for intruding, but I couldn't help it when I heard business. May I help?
- Sure.
- So. basically a company is an association of many persons who contribute money or money's worth to a common stock and employ it's trade or business and who share profits and losses arising there from.
- Elaborate please?
- You forgot to mention that there are two types of companies: Private and public company
- But in a public company, minimum number od members are 7 with no upper limit. It also doesn't restrict rights of members to transfer their shares.
- A private company has a minimum of 2 members and a maximum of 200 members excluding its past and present employees.
- In a public company, the minimum paid up capital is 5 lakhs and the word "ltd." is used for it, whereas in a private company, it is 1 lakh and "pvt.ltd.".
- But unlike the public company, a private company prohibits an invitation to the public to subscribe for any shares, or debentures of the company, or accept deposits from people other than its directors, members and relatives.
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