The sole proprietorship form of business is highly flexible compared to other forms such as company, partnership etc.

Sole proprietary concerns can be started easily with small amount of capital.

Partnership is valid legally only if it is in the written format in the stamp paper.

Any person born in the HUF becomes a member automatically.

Liability of a member is limited to the unpaid share capital.

The 2013 Act introduces a change in the definition for a private company, inter-alia, the new requirement increases the limit of the number of members from 50 to 200 [section 2(68) of 2013 Act].

Government Companies are registered under the Companies Act.

Company is a separate legal entity. Members may come and go but the company can go on forever.

When the Government takes over an existing private concern, it is called nationalisation.

Interest in business is easily transfrable at will.

The profit of co-operative society is distributed to the members in the proportion of purchases made by the them, and not on shares held by them. The total amount of your patronage dividend is based upon all the purchases you made during the fiscal year, divided by the total purchases made by all active owners, then the dividend is multiplied by your share (%).

Directors are those, who are elected by members of the company to manage the assets and liabilities of the company.

In all the government companies, government must hold minimum 51% of the share capital.

In a co-operative society, member can vote not on the basis of number of shares he/she owns, rather he/she can contribute only one vote on his/her behalf.

All the companies are required to register with the Registrar of Companies (RoC) as per Companies Act.