Proprietorship is a type of business organization. It means- 'owned by one person'. That is, only one person is the owner of the business. Sole business owners and operators are called 'sole proprietors'.
Individuals who do business together are individually called 'Partnership' and collectively as 'Firm'
In a limited liability partnership, all partners have limited liability for the protection of each person within the partnership, much like the shareholders of a limited company.
A one person company is a type of company in which the same person is a shareholder and director. During the incorporation of a one person company, a director and a shareholder have to propose one person as their nominee.
A private limited company is a separate legal entity held privately by a few individuals. In this, the shareholders cannot trade the shares publicly. It limits the number of shares it holds to 50. Shareholders cannot sell their shares without the approval of other shareholders.
It is an association of persons set up voluntarily, with a minimum paid-up capital of Rs. 5 lakhs. There is no restriction on transfer of shares in this type of company.
Under Hindu Law, an HUF is a family which consists of all persons lineally descended from a common ancestor and includes their wives and unmarried daughters. An HUF cannot be created under a contract, it is created automatically in a Hindu Family.
A Nidhi company is a type of company in the Indian non-banking finance sector, recognized under section 406 of the Companies Act, 2013. Their core business is borrowing and lending money between their members. They are also known as Permanent Fund, Benefit Funds, Mutual Benefit Funds and Mutual Benefit Company.
