lO MoAR cP SD |12601166
A
PROJECTREPORT
ON
"Forms Of Ownership”
SUBMITTEDINPARTIALFULFILLMENTOFTHEREQUIREMENTSFORTHE AWARD
OF
DIPLOMAINMECHATRONICSENGINEERING
SUBMITTEDTO
MAHARASHTRASTATEBOARDOFTECHNICALEDUCATION,MUMBAI
SUBMITTEDBY
Name of Student RollNo
1.Walunj Om Popat 05
GUIDEDBY:(Prof.Mr.Shinde O.P.)
SAMARTHPOLYTECHNIC,BELHE
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lO MoAR cP SD |12601166
SAMARTHPOLYTECHNIC,BELHE
CERTIFICATE
This is tocertify thatthe project reportentitled “FormsOf
Ownership."
Wassuccessfully completed byS tudent of Fifth semester Diplomain Mechatronics
engineering.
Nameofstudent. RollNo.
1. Walunj Om Popat 05
In partial fulfillment of the requirements for the award of the Diploma in
Mechatronics engineering and submitted to the Department of Mechatronics of
Samarth Polytechnic, Belhe work carried out during a period for the academic year
2024-25 as per curriculum.
Prof..Shinde O.P. Prof.FulpagareS.V. Prof.KapileA.S.
(Subject Teacher.) (H.O.D) (Principal)
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lO MoAR cP SD |12601166
ACKNOWLEDGMENT
This project is done as a semester project, as a part course titled "Forms Of
Ownership”
I am really thankful to our course the Principal Prof. Kapile A.S. and the HOD
Prof. Fulpagare S.V. Samarth Polytechnic, Belhe for his invaluable guidance and
assistance, without which the accomplishment of the task would have never been
possible.
I also thanks Prof.Shinde O.P.forgiving this opportunity to explore into the real
world and realize the interrelation without which a Project can never progress. In
this present project I have chosen the topic-"Forms Of Ownership”
I am also thankful to parents, friend and all staff of Mechatronics
engineering department, for providing us relevant information and necessary
clarifications, and great support.
Nameofstudent.
1. Walunj Om Popat 05
3
lO MoAR cP SD |12601166
Micro Project Planning Proposal
Title of Project:
"FormsOfOwnership.”
1.0 BriefInformation:-
Safety measures are activities and precautions taken to improve safety, i.e.
reduce risk related to human health. Common safety measures include:
Chemical analysis. Destructive testing of samples
Aim of the Project:-
To avoidloss of Property and Life−The basic aimof safety measuresis to
preventthe occurrences of mishaps and hazards that sometimes cause heavy loss of
life and property.
The main goal of safety and health programs is to prevent workplace
injuries, illnesses, and deaths, as well as the suffering and financial hardship these
events can cause for workers, their families, and employers. The recommended
practices use a proactive approach to managing workplace safety and health.
4
lO MoA R cP SD | 126011
ActionPlan:-
Name of
Planned
S. Planned Responsible
Detailsofactivity Finish
No. Startdate Team
date
Members
Selectaprojectnamewiththehelp of a Walunj Om
subject teacher. Popat
1 Teacherguidethehowtomakea
project.
DiscusstheMicroprojectsubject with Walunj Om
group members and how to collect Popat
2 the information.
Collect the information with the Walunj Om
helpoftextbook,referencebooks. Popat
3 Note down the main points with
the help of group members.
Collectinformationanddiagram to Vishwasrao
saw the teacher. Vaishnav
4 Teacherguidetohowtopreparea Sandip
report of micro
Project.
Madethemicroprojectreportwith the Walunj Om
5 help of group members and Popat
printout the pages and made a file
of micro project
Collectallinformationinseries. Walunj Om
6 TypetheinformationinMicrosoft Popat
word. Create the final report.
5
lO MoAR cP SD |12601166
Createaprojectfilewithhelpof group Walunj Om
7 members. Type a search Popat
informationandpastediagram.
Checktheprojectwiththehelpof Walunj Om
8 teacher and submit the micro Popat
project report.
ActualResourcesUsed:-
S. NameofResource Specifications Qty Remarks
No. /Material
1 MAN Book Information 1 C
2 Mobile Information 1 C
3 Laptop MakeaProject 1 C
4 A4SizePrinter 1 C
OutputsoftheMicro-Projects:-
InthisProjectStudyaboutSafetyMeasurementTaken during
working in Industries ...
SkillDeveloped/LearningoutofthisProject:-
ThisprojectwegainaKnowledgeofDifferenceTypeSafety Precautions in
industries...
6
Abstract
Ownership, in its most comprehensive signification, denotes the relationship
between a person and any right that is vested in him. That which a man owns is in all cases
a right. When, as is often the case, we speak of the ownership of a material object, this is
merely a convenient figure of speech. To owna piece of land means in truth to own a
particular kind of right in the land, namely, the fee simple of it.
Ownership is a socially significant concept because it is an index of wealth and
social position. Ownership of land was a means of controlling the government. In feudal
system based on land ownership, the feudal lords wielded tremendous influence, and even
the qualification to vote was based on ownership of land.
7
THANKS YOU
8
lO MoA R cP SD |12601166
lO MoA R cP SD |12601166
INDEX
Chapte Sub Chapter Name Chapter
r No. Topic Page No.
1 Chapter 1 10
Introduction 10
1.1
2 Chapter 2 12
Sole Proprietorship 12
2.1
3 Chapter 3 13
Corporation 13
3.1
3.1.1 C-Corporation: 14
3.1.2 S-Corporation 15
3.1.3 Limited Liability Company: 16
4 Chapter 4 17
4.1 Partnership 17
5 Chapter 5 18
5.1 Co-Operatives 18
6 Chapter 6 19
6.1 Conclusion 19
7 Chapter 7 20
7.1 References 20
9
Chapter 1
1.1 INTRODUCTION
The first decisionyou’llmakeasabusinessownersishowyourbusinesswillbestructured You needt
o know the advantages and disadvantages of each of the different forms
Of business organization tomake sure you make the right decision for your new business. All
businesses must adopt some legal of that configuration that defines the right sand liabilities of
participants in the business’s ownership, control, person alliability, lifespan and financial
structure.
Theformofbusinessdetermineswhich in cometaxreturnform to fileand thecompany’s and
owner’s legal liabilities.
10
Forms of business ownership:
• Formsofbusinessownershipandtypesofbusinessesdescribehow they areorganized and run.
• Thefourmainformsofbusinessownershiparelisted below:
1. Soleproprietorship
2. Corporation
3. Partnership
4. Co-operatives
• Afranchiseisacombination,orhybrid,ofthefourformsofownership.
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Chapter 2
2.1 SOLEPROPRIETORSHIP:
Thewordsolemeans“Single”or“One”.Thewordproprietormeans“Owner”. ASole
Proprietorship,therefore,isabusinessowned byoneperson.Thesoleproprietorship istheoldest and
most common formof business ownership. Approximately75 percent of all business in the United
States today.are organized as sole proprietorship.
MostSoleProprietorshipsaresmall-businessoperations,eachowedbyanindividual. An in dividual
who starts a business is known as an entrepreneur. The vast majority of small businesses start out
as sole proprietor ships. These businesses usually are owned by one person, aka the individual
who has day-to-day responsibility for running the business. Sole proprietors can be independent
contractors, freelancers or home-based businesses.
Advantages:
❖ Theowner receivesallprofits.
❖ Profitsaretaxed onlyonce.
❖ .Theownermakesalldecisionsand is incompletecontrolofthe company(butthiscould also
be a disadvantage).
❖ Itistheeasiestandleastexpensiveformofownershipto organize
❖ Theyareeasytoform,andtheownersenjoysole controlofthebusinessprofits
Disadvantages:
❖ There isunlimited liabilityifanythinghappensinthe business. Yourpersonalassetsareat risk
(including your home in Kansas City).
❖ Itislimited inraising fundsandtheownermighthave toacquireconsumerloans.
❖ There isnoseparatelegalstatus.
❖ UnlimitedLiabilityand it meanswhenaperson inthebusinesspaysthedebtsby sellingthe assets
in the business.
❖ Taxesthesoleproprietor paystaxes individuallybecauseallformsofcapitalare invested by him
and all documentation papers are registered by the name of him.
Example:
• Art studio
• Alocalgrocery
• ITconsultationservice
12
Chapter 3
3.1CORPORATION
Acorporationisconsideredbylawtobeauniqueentity,separatefromthosewho ownit.A corporation
can be taxed, sued and enter into contractual agreements. The corporation has alife of its own
anddoesnotdissolvewhenownershipchanges A
Corporationisabusinessgrantedlegalstatuswithrights,privileges,andliabilitiesthat
aredistinctfromthoseofthepeoplewhoworkforthebusiness. Corporationscanbe smallsuchasone-
personbusinessorlargesuchasamultinationalthatconductsCorporationscanbesmallsuchasone-
personbusinessorlargesuchasa multinationalthatconducts business in several different
countries. Small portions of corporate ownership that are owned publically are called stocks
or shares. Individuals who own shares of a corporation are called shareholders andbecome
owners of the business.
Therearethreetypesofcorporations:
• C-corporation,
• S-corporation
• LimitedLiabilityCompany.
13
C-corporation:
AC-corporationisacorporationthatistaxedseparatelyfromitsowners.Itgivestheowner
slimited liability, which can encourage more risk-takingand potential investment.
Advantages:
❖ Itislimitedliability.
❖ Inregardstotransferofownership,shareholderscanselltheir shares.
❖ Thecompanypays fringebenefits.
Disadvantages:
❖ Itissubjecttodoubletaxation.(Corporationandshareholderearningsaretaxed.)
❖ Itcanbecostlytoform
❖ C-corpspaycorporatetaxesata differenttime thanotherformsof business.
14
S-Corporation
S-corporation,alsoknownassubchapterS-corporation,offerstheownerslimited
liability. S-corporationsdonotpayincometaxes;theearningsandprofitsaretreated
asdistributions.The shareholders must report their income on individual income tax
returns.
Advantages
❖ It enjoys limited liability
❖ It avoids double taxation.
❖ It offers transfer of ownership.
Disadvantages:
❖ It can be costly to form.
❖ Stock hold ersare limited to individuals,estatesortrustees.
❖ StockholdersarelimitedtocitizensorresidentaliensoftheUnitedStates.
15
Limited Liability Company:
A limited liability company orLLC isa hybrid businessstructurethat providesthe
limited legalliabilityofacorporationandtheoperationalflexibilityofapartnershiporsole
proprietorship. However, the formation is more complex and formal than that of a general
partnership.
Advantages:
• It is the most common businesss tructure and is specifically created
forsmall businesses..
• LLC sare usually taxedasa sole proprietorship.
• LLC scan have an unlimited number of owners.
Disadvantages:
• It requires yearly admin is trativecosts.
• LLCs have apersonaltax liability.
• Lega land accounting assistance is recommended for LLCs.
16
Chapter 4
4.1PARTNERSHIP
Partnership two or more people share ownership of a single business. Like proprietorships, the
law does not distinguish between the business and its owners. The partners should have a legal
agreement that establishes howdecisions will bemade, how profits will be shared, how disputes
will bere solved, how future partners will be admitted to the partnership, how partners can be
boughtout or what steps will be taken to dissolve the partnership when needed.
Partnershipspresentthe involvedpartieswithcomplexnegotiationandspecialchallengesthat
must be navigatedunto agreement. Overarchinggoals, levelsofgive-and-take,
areasofresponsibility,
linesofauthorityandsuccession,howsuccessisevaluatedanddistributed,andoftena
varietyofotherfactorsmustallbe negotiated.Onceagreementisreached,thepartnership
istypicallyenforceable by especiallyifwelldocumented. Partnerswho wishtomaketheir
agreement affirmativelyexplicit and enforceable typically draw up Articles of Partnership.
Trust and pragmatism arealso essential as it cannot
beexpectedthateverythingcanbewrittenintheinitialpartnership
agreement,thereforequalitygovernanceandclearcommunicationarecriticalsuccessfactorsinthelo
ngrun.Itiscommonforinformationaboutformallypartneredentitiestobemadepublic,suchasthroug
hapressrelease,a newspaper ad, or public records laws
Advantages:
❖ Itiseasytoestablish(withtheexceptionofdevelopingapartnership agreement).
❖ Separatelegalstatusgives liabilityprotection.
❖ Profitsaretaxedonlyonce.
❖ Partnersmayhavecomplementaryskills.
Disadvantages:
❖ Partnersarejointlyandindividuallyliableforotherpartners’actions.
❖ Profitsmustbesharedwiththepartner
❖ Decisionmakingisdivided.
Businesscansufferifthedetailedpartnershipagreementisnotinplace
17
Chapter 5
5.1CO-OPERATIVES
Aco-operative isowned bytheworkersormemberswho buytheproductsorusetheservices that
thebusinessoffers.Thistypeofbusinessismotivatedbyserviceandnotprofit.Adaptationsofthis
business model include consumer, retail, and worker co-operatives.
Acooperative is a private business organization that is owned and controlled by the people who
use itsproducts,suppliesorservices.Althoughcooperativesvaryintypeandmembership size,allwere
formedtomeetthespecificobjectivesofmembers,andarestructuredtoadapttomember'schanging
needs. Aco-operativeusuallyonlyallowsa limited distributionof profits to members (some don’t
allow any). This business structure encourages a democratic style of management and promotes
the concepts of sharing resources and delegation to increase competitiveness.
Advantages:
❖ Generallyinexpensivetoregister.
❖ Allmembers mustbeactiveintheco-operative.
❖ Member shaveanequalvote atgeneralmeetingsregardlessoftheir levelofinvestmentor
involvement.
❖ Than directors,memberscanbeaged lessthan18years.These member scannot standfor
office and don’t have voting rights.
Disadvantages:
❖ As co-operatives are formed to provide a service to members rather than a return on
investment, it maybedifficult to attractpotentialmembersseekingafinancialreturn.
❖ Thereisusuallylimiteddistributionofprofitsto membersandsome co-operativesmay
prohibit the of distribution of any surplus.
❖ Membersprovidinggreaterinvolvement orinvestmentthanotherswillstillonlygetone vote,
❖ Requireson-goingeducationprograms for members.
18
Chapter 6
6.1Conclusion
Ownership is as ocially significant concept because it is an index of wealth, and social position
Ownership of land was the means of controlling government. Ina feudal system based
onlandownership,the feud allords wielde dtremendousinfluence,andeventhequalificationto vote
was based on ownership of land. The social aspect of ownership also highlights the important
principle that on owner shall enjoy his interest in a manner compatible with the interest of
others.
19
Chapter 7
7.1 REFERENCES
Essentials of Entrepreneurship and Small Business Management, 3rd edn., OOPWeb.com, viewed 26
March 2014, from http://dfwwebpresence.com/files/Flash Drives/New
%20Drive/Classes/MGMT3850%20Entrepreneurship/Es
sentials%20of%20Entrepreneurship%20and%20Small %20Business%20Management/Frontmatter.pdf
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IIANNEXTUREII
Evaluation of Microproject
AcademicYear: - 2024-2025 Course:-MAN Name of Faculty:-Shinde O.P
CourseCode:-22509 Semester:-5th
Title:- “Forms Of Ownership”
Name of Team Members:-
1. Walunj Om Popat
Major Learning Outcome sachieve by student by do in the Project:-
A) PracticalOutcomes………………………………………………………………………..
………………………………………………………………………………………………
B) UnitOutcomeinCognitiveDomain:-……………………………………………………
………………………………………………………………………………………………
C) OutcomesinAffectiveDomain:-………………………………………………………...
……………………………………………………………………………………………
Comments/SuggestionaboutTeamwork/leadership/interpersonalcommunication
………………………………………………………………………………………………………
………………………………………………………………………………………………………
Marksoutof Marksoutof
6 for 4 for
Roll TotalOut
StudentName performance performance
No. of 10
in Group in Oral /
Activities Presentation
05 Walunj Om Popat
21
22
