Examlex
Discuss the advantages and disadvantages of the privatization of water services.
Partnership
A legal form of business operation between two or more individuals who share management and profits.
Limited Liability
A legal structure that limits the financial responsibility of owners or shareholders to their investment in a company, protecting personal assets from business debts.
Carrying on Business
The act of engaging in commercial activities with a degree of continuity and organization, aiming at producing income or profit.
Sole Proprietorship
A business owned and operated by one person, where there is no legal distinction between the owner and the business.
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