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We will mainly concentrate on commercial organizations.
To manage the company they hire the Board of Directors who are not the owners of the company but only its managers.
The capital is divided into shares, which are held by shareholders.
Shareholders are the owners of the company, but not its managers.
Limited partnership
– there can be sleeping partners who do not participate in management of the company
Sleeping partners have limited liability
The latter are called multinationals. It usually takes much time to become a multinational company.
Summary: