Definition
The Legal Organization (LO) is found in the addressed stub of the establishment. It refers to the legal form of the economic entity which owns the establishment. The types of legal organization are single proprietorship, partnership, government corporation, other private corporation, cooperative, and other legal organizations such as associations, foundations, non-government organizations (NGOs), etc.
Single proprietorship (LO Code 1) refers to a form of legal or business organization organized, owned, and managed by one person, who alone assumes the risk of the business enterprise.
Partnership (LO Code 2) refers to an association of two or more individuals for the conduct of a business enterprise based upon an agreement or contract between or among them to contribute money, property or industry into a common fund with the intention of dividing profits among themselves.
Government corporation (LO Code 3) is a private corporation organized for private aim, benefit or purpose and owned or controlled by the government.
Private corporation (LO Code 4) refers to a corporation organized by private persons.
Cooperative (LO Code 5) is an organization composed primarily of small producers and/or consumers who voluntarily join together to form a business enterprise which they themselves own, control and patronize.
