Types of company as per member
liability
Unlimited
liability – In
these types of company, the members or partners of company have a unlimited
liability. If an unlimited company does not have enough for all payment, it
will be shift to share holders. These types of company are rare in current time
frame.
Limited
by Guarantee – In
these types of company, partners are limited by guarantee. Amount will be
mention in Memorandum. Amount will be pay when they winding up the company.
These types of company not formed for economic gain or profit, but they are
generally for art, culture, charity, science or sports.
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| company as per member liability |
Limited
by share – These types
of company normally registered with an amount which is mention in its MOA
(Memorandum of Association). This investment or capital divided a numbers of
shares like one rupee, ten rupee or so on. If any person wants to become a
member, firstly he buys some share & his name also write-down in register
after that he become a member of company.
Government
companies – If
Government have at least 51% share of any company, we call it a Government
company. May be this ratio held by central Government, state Government or
other local bodies.
