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Re: [LUG] OT: GNU GPL copyright
Hi Robin,
I think I'm right:
A business is just a commercial enterprise.
A company is treated as if it is a person in it's right (or entity), which runs a business or businesses.
A company is owned by it's investors, either public (PLC) or Private (LTD).
If anything financially legally goes wrong the company is held accountable not the directors; unless there is fraud.
A sole trader is a single person who runs a business, and this person is solely accountable if anything goes wrong, and compensation can be taken directly from the sole trader.
In a PLC or LTD all compensation is taken from the investors shares in the company, and also any other assets the company owns (this is called liquidation of assets if things really go wrong).
BTW this knowledge is drawn of my GCSE business studies (done years ago), so things may not be quite right.
Cheers
Jody
Robin Cornelius <robin.cornelius@xxxxxxxxx> wrote:
On 10/25/06, David Johnson wrote:
> If you're a sole trader, your name is your business name. JodSoft is simply a
> trading name of 'Jody Salt' which is the legal name of your business -
> JodSoft is not a legal entity.
>
This voids my point then, so it only applies to a registered business
eg a ltd company.
At what point then does a business become a entity in law. Is there
really any difference between a sole traders "business" and a
unlimited company?
Sorry getting even more
offtopic now!
--
Robin Cornelius
http://www.byteme.org.uk
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