Business relate

[Flower025]

HELLO EVERYONE... i hope you guys having a good night weekends..

I have some few questions about business links..

i have already asked this all to famous Google and i got a quite good answers but im still keen to know your explanation so you may do so if you like and it will be a great help for me educating myself..

Pls more clear explanation , definition of each of the followings..

* Corporate name or Company name?
* Business name or Trade name?
* Proprietorship?

this may look too complicated or too long to type ur answer so if you dont mind doing that again appreciated.

HAVE A GREAT WEEKEND..:smile::smile:

[Terpe]

..

Pls more clear explanation , definition of each of the followings..
* Corporate name or Company name?...

In basic principle it's the same thing.
That being, the creation of a unique legal entity having a different and separate identity from those who own, organise and run it.



..Business name or Trade name?*..

Here again in basic principle it's the same thing.
Just another name that is used for a business instead of say the Registed Company name (eg John Doe Ltd trading as Lovely Lechon) or Sole Trader John Doe calling his business Lovely Lechon.
It can get quite complicated in the detail withy a number of constraints etc so The Business Names Act 1985 (http://www.legislation.gov.uk/ukpga/1985/7) should be reviewed


..Proprietorship?...

In a business sense it's the same as Sole Trader.
It's a business that is not a unique legal entity.
Means that proprietor/sole trader is the legal entity and as such will be held personally responsible and liable for any obligation.
Means that if the business/Proprietorship defaults on payments and/or debt, or gets sued etc then owner/sole trader/proprietor will be liable to forfeit any asetts such as houses/cars etc in order to fulfill any financial shortfall.