Ronron S.

Fortuna BSIE-3 IE 32/ MWF-1:30-3:30pm

November 14, 2012 Engr. Teodorico Mejaran

1. What is Corporation in business? (Example/Org.) Corporation is a more formal business organization than a partnership. It is composed of five or more owners generally called incorporators,corporators, and/or stockholders. The most common form of business organization, and one which is chartered by a state and given many legal rights as an entity separate from its owners. This form of business is characterized by the limited liability of its owners, the issuance of shares of easily transferable stock, and existence as a going concern. Examples: First Gas Power Corporation Supervalue Incorporated Toyota Motor Philippines Corporation Bayan Telecommunications Incorporated Universal Robina Corporation Federal Deposit Insurance Corporation TMT MOTOR CORPORATION

TMT CORPORATION Organizational Chart

2. What is Partnership in business? (Example/Org.) Partnership is a form of business organization wherein there are two or more persons bind themselves to contribute resources to a common fund in their co-owned business for a profit. The owners of a partnership are called partners. Examples: East Kent Human Resources Partnership Volunteer Partnerships for West Africa (VPWA) AKOM Survey Services Denver Transit Partners RBM Partnership AKOM SURVEY SERVICES ORGANIZATIONAL CHART