Summary Forms of ownership

Summary of Forms of Ownership
Sole Personal Private
Closed Non -Proft Public State Owned
proprietorshi Partnership Liability Company Co-Operative
Corporation Company Company Company
p Company (pty) Ltd
Co-op must
be part of the
Own name Name must
name
or name be Ends with Ends with Ends with Ends with Ends with Ends with
Name Limited or Ltd
registered registered CC NPC Inc. (pty) Ltd Ltd SOC Ltd
must be the
with CIPC with CIPC
last word of
the name
At least 5 in
No. of 1-10 the case of
1 At least 2 At least 1 At least 1 At least 1 At least 1 At least 1
Owners members primary co-
operative
Owners are
Owner Partners members shareholders shareholders shareholders shareholders shareholders Members
known as
Managed by Owner Partners Members Directors Directors Directors Directors Directors Members
No No New CC’s File File File File File File the
Formalities Formalities can no Memorandu Memorandu Memorandu Memorandu Memorandu following with
Owner partners longer be m of m of m of m of m of the Register
simply starts sign formed Incorporatio Incorporatio Incorporatio Incorporatio Incorporatio of Co-
the business partnership n with CIPC n with CIPC n with CIPC n with CIPC n with CIPC operatives:
agreement constitution
Formation
of the co-
operative; list
of founder
members; a
list of
directors
Joint and
Limited -
severally –
Members
Liabilities for Members Joint and
Unlimited may be Limited Limited Limited Limited Limited
debts may be severally
asked to
asked to
stand surety
stand surety
No No
Continuity Continuity Continuity Continuity Continuity Continuity Continuity Continuity
continuity continuity
Assets are The The The The The Co-
Owner Partners The CC The NPC
owned by Company Company Company Company operative
Proft/ Owner Partners The CC The NPC Shareholder Shareholder Shareholder Shareholder The Co-