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FIRMS AND INDUSTRY: PRIVATE AND PUBLIC COMPANIES

CONTENT

  1. Limited Liability Companies
  2. Co-operative Societies
  3. Public Enterprises
  4. Joint Ventures
  5. General Sources of Finance for Business Enterprises
  6. General and Specific Problems of Business Enterprises
  7. Privatization and Commercialization as a Solution to the Problems of Public Enterprises

Limited Liability Companies

Definition of Limited Liability Companies

There are two types of Limited Liability Companies – Private Limited Liability Company or ‘the closed company’ and the Public limited liability company or the Public joint stock company.

The Private Limited Liability Company (Unquoted Company)

A private limited liability company is defined as one which by its articles restricts the right to transfer its shares and limit the number of its shareholders from two to fifty. The name of the private company must end with “Limited” e.g. AGRO Nigeria Limited etc.

Features or Characteristics of Private Limited Liability companies

  1. Ownership: It is owned by shareholders that may be between two and fifty persons in number.

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Lesson tags: Economics Lesson Notes, Economics Objective Questions, SS1 Economics, SS1 Economics Evaluation Questions, SS1 Economics Evaluation Questions Second Term, SS1 Economics Objective Questions, SS1 Economics Objective Questions Second Term, SS1 Economics Second Term
Back to: ECONOMICS – SS1 > Second Term
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