Documents required before getting the status of a company

1. Memorandum of Associations
i. N ame of business.
ii. Objectives.
iii. Registered address.
iv. Authorized share capital (the maximum amount of capital a
business is allowed to raise)
v. List of directors.
2. Articles of Association
i. Internal management of the company.
ii. Rights and responsibilities of Directors and Shareholders.
iii. Appointment of legal advisors and auditors.
iv. Quorum of Annual General Meeting.
v. Profit sharing.
3. Certificate of incorporation
1. certificate issued to business to act as a limited company

Capital of Public Limited Company
1. Shares
Are issued by public limited company to general pubic. Holder of share
becomes owner of the business.
2. Debenture
Are issued by public limited company to general pubic. Holder of
debenture becomes the lender to the business

Advantages: and Disadvantages:of Sole Trader

Sole Trader
Owner: One, with or without assistance of employs.
Capital: Limited and provided by loans or personal savings.
Liability: Unlimited.
Status: No legal entity.
Scale of operation: Very small.
Registration: No legal formalities.
Tax Burdon: Low.
Examples: Food stall, laundry and tailor.
Advantages:
1. Simple formation.
2. Easy management.
3. Owner is his own boss.
4. All profit is retained by the owner.
5. Low taxes.
6. Labour intensive.

Disadvantages:
1. Unlimited liability.
2. Uncertain life.
3. Resourcefully not very strong.
4. All burden of management is on the owner.

Consumers Rights

1. To get right quantity and quality against the price paid.
2. Not to be charged extra.
3. Should be given goods in proper measurement.
4. There should be no ad ulteration.
5. Should no get expired items.
6. Should no get unhygie nic items.
7. Should not be treated rudely.
8. Should not get items with haram ingredients.
9. Seller should not mak e misleading statements during time of sellin g.
10. Should be given due after sale services

Reasons for Consumer Protection

1. Unfair trading practice s of businessman.
2. Inability of consumers to asses claims of advertisers.
3. Ignorance of consumers that products may endanger their health or life.
4. Safeguarding the religious beliefs of consumers.
5. Ignorance of customers of their rights