PPT - Public, Private and Global Enterprises Commerce Notes | EduRev

Business Studies (BST) Class 11

Commerce : PPT - Public, Private and Global Enterprises Commerce Notes | EduRev

 Page 1


PRIVATE, PUBLIC AND GLOBAL 
ENTERPRISES
? The private sector consists of 
business owned by individuals or a 
group of individuals. examples —sole 
proprietorship, partnership, Joint Hindu 
Family business.
? The public sector consists of various 
organizations owned and managed by 
the government. These organisations
may be either be partly or wholly  owned 
by the government.
Page 2


PRIVATE, PUBLIC AND GLOBAL 
ENTERPRISES
? The private sector consists of 
business owned by individuals or a 
group of individuals. examples —sole 
proprietorship, partnership, Joint Hindu 
Family business.
? The public sector consists of various 
organizations owned and managed by 
the government. These organisations
may be either be partly or wholly  owned 
by the government.
PRIVATE COMPANY
? A Private company means a company which :-
a. restricts the right of members to transfer its 
shares.
b. has a minimum of 2 and a maximum of 50 
members, excluding the present and past 
employees.
c. does not invite public to subscribe to its 
share capital
d. must have a minimum paid up capital of Rs. 
1 lakh
Page 3


PRIVATE, PUBLIC AND GLOBAL 
ENTERPRISES
? The private sector consists of 
business owned by individuals or a 
group of individuals. examples —sole 
proprietorship, partnership, Joint Hindu 
Family business.
? The public sector consists of various 
organizations owned and managed by 
the government. These organisations
may be either be partly or wholly  owned 
by the government.
PRIVATE COMPANY
? A Private company means a company which :-
a. restricts the right of members to transfer its 
shares.
b. has a minimum of 2 and a maximum of 50 
members, excluding the present and past 
employees.
c. does not invite public to subscribe to its 
share capital
d. must have a minimum paid up capital of Rs. 
1 lakh
? It is necessary for a private company to use 
the word private after its name.
? If a private  company contravenes any of the 
aforesaid provisions, it ceases to be a private 
company and losses all the exemptions and 
privileges to which it is entitled.
? The following are some of the privileges of a 
private limited company as against a public 
limited company:
1. A private company can be formed by only 
two members where as seven people are 
needed to form a public company.
Page 4


PRIVATE, PUBLIC AND GLOBAL 
ENTERPRISES
? The private sector consists of 
business owned by individuals or a 
group of individuals. examples —sole 
proprietorship, partnership, Joint Hindu 
Family business.
? The public sector consists of various 
organizations owned and managed by 
the government. These organisations
may be either be partly or wholly  owned 
by the government.
PRIVATE COMPANY
? A Private company means a company which :-
a. restricts the right of members to transfer its 
shares.
b. has a minimum of 2 and a maximum of 50 
members, excluding the present and past 
employees.
c. does not invite public to subscribe to its 
share capital
d. must have a minimum paid up capital of Rs. 
1 lakh
? It is necessary for a private company to use 
the word private after its name.
? If a private  company contravenes any of the 
aforesaid provisions, it ceases to be a private 
company and losses all the exemptions and 
privileges to which it is entitled.
? The following are some of the privileges of a 
private limited company as against a public 
limited company:
1. A private company can be formed by only 
two members where as seven people are 
needed to form a public company.
2. There is no need to issue a prospectus as public is 
not invited to subscribe to the shares of a private 
company.
3. Allotment of shares can be done without 
receiving he minimum subscription.
4. A private company can start business as 
soon as it receives the certificate of 
incorporation.  The public company on the 
other hand, has to wait for the receipt of 
certificate of commencement before it can start 
a business.
5. A private company need to have only two 
directors as against the minimum of three 
directors in the case of a public company.
Page 5


PRIVATE, PUBLIC AND GLOBAL 
ENTERPRISES
? The private sector consists of 
business owned by individuals or a 
group of individuals. examples —sole 
proprietorship, partnership, Joint Hindu 
Family business.
? The public sector consists of various 
organizations owned and managed by 
the government. These organisations
may be either be partly or wholly  owned 
by the government.
PRIVATE COMPANY
? A Private company means a company which :-
a. restricts the right of members to transfer its 
shares.
b. has a minimum of 2 and a maximum of 50 
members, excluding the present and past 
employees.
c. does not invite public to subscribe to its 
share capital
d. must have a minimum paid up capital of Rs. 
1 lakh
? It is necessary for a private company to use 
the word private after its name.
? If a private  company contravenes any of the 
aforesaid provisions, it ceases to be a private 
company and losses all the exemptions and 
privileges to which it is entitled.
? The following are some of the privileges of a 
private limited company as against a public 
limited company:
1. A private company can be formed by only 
two members where as seven people are 
needed to form a public company.
2. There is no need to issue a prospectus as public is 
not invited to subscribe to the shares of a private 
company.
3. Allotment of shares can be done without 
receiving he minimum subscription.
4. A private company can start business as 
soon as it receives the certificate of 
incorporation.  The public company on the 
other hand, has to wait for the receipt of 
certificate of commencement before it can start 
a business.
5. A private company need to have only two 
directors as against the minimum of three 
directors in the case of a public company.
FORMS OF ORGANISING 
PUBLIC SECTOR ENTERPRISES
The forms of organisation which a public 
enterprise may take are as follows:-
? Departmental undertaking
? Statutory corporation
? government company 
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