Definition
Q1.2.7 The breakdown of legal organization given here, is based on definitions of companies Act. No. 17 of 1982
• "Public" company requires no fewer than seven members, and there is no limit as to the maximum number of members it can have.
• "Private" company has a minimum of two and a maximum of fifty share holders also restriction on the right to transfer its shares and prohibits any invitation to the public to subscribe for any shares or debentures.
• "Partnership" is an agreement either written or verbal among the partners (Minimum 2, Maximum 20) for the purpose of making profits (written or verble agreement of the partner or under the partnership Act of 1918)
• "Co - Operative" - The establishments which are registered under the Act of co-operative.