FORMS OF OWNERSHIP

Micro-Project Proposal
Micro Project for information about
FORMS OF OWNERSHIP
Aims of the Micro-Project:
a) Ownership, in its most comprehensive signification, denotes the relationship between a
person and any right that is vested in him.
b) Because of the micro project now we have get deep knowledge.
Course Outcomes Addressed
1. Use basic management principles to execute daily activities.
2. Use principles of planning and organizing for accomplishment of tasks.
3. Use principles of directing and controlling for implementing the plans.
4. Apply principles of safety management in all activities.
5. Understand various provisions of industrial acts.

3.0 Proposed Methodology

Collect the information of all the Forms of Ownership. It also include the methodology and
various information.
I searched the micro project topics related to subject. Then selected micro project title. After
selection of topic searched and collected information related to selected topic. Then
completed proposal of micro project.

4.0 Action Plan

Sr. No. Details of activity Planned Planned Name of Responsible
Start Date Finish date Student

Decide individual micro project 17/08/2020 24/08/2020 Prasad Bhumkar

1

Search micro project topics related 31/08/2020 07/09/2020 Prasad Bhumkar

2 To subject.

3 Selection of micro project title 14/09/2020 21/09/2020 Prasad Bhumkar

Search Prasad Bhumkar

4 information 28/09/2020 05/10/2020
related to
selected topic

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 FORMS OF OWNERSHIP
Prasad Bhumkar
5 Collect information related to 12/10/2020 19/10/2020
selected topic

Completion of micro project topic Prasad Bhumkar

6 26/10/2020 02/11/2020
Proposal
Prasad Bhumkar
7 Analyze collected data For 09/11/2020 16/11/2020
micro-Project report.
Prasad Bhumkar
8 Finalize collected data For 23/11/2020 30/11/2020
micro-Project report.
Prasad Bhumkar
Finalize Design & flow of 07/12/2020 14/12/2020
9
Implementation
Prasad Bhumkar
21/12/2020 28/12/2020
10 Flow of Implementation

Prasad Bhumkar
Implementation of report. 04/01/2021 11/01/2021
11
Prasad Bhumkar
18/01/2021 25/01/2021
12 Report preparation

Prasad Bhumkar
27/01/2021 28/01/2021
13 Finalization of report

Prasad Bhumkar
29/01/2021 30/01/2021
14 Submission of report

Name of Student Roll No.

Prasad Santosh Bhumkar 12

(To be approved by the concerned teacher)

****************

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 FORMS OF OWNERSHIP

A
PROJECT REPORT
ON

“FORMS OF OWNERSHIP”
SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD
OF

DIPLOMA IN
COMPUTER ENGINEERING

SUBMITTED TO
MAHARASHTRA STATE BOARD OF TECHNICAL EDUCATION,
MUMBAI

SUBMITTED BY

Name of Student Enrolment Number

Prasad Santosh Bhumkar 1909920093

GUIDED BY
(Prof.Tannu R.R.)

SAMARTH POLYTECHNIC, BELHE

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SAMARTH POLYTECHNIC, BELHE

CERTIFICATE

This is to certify that the project report entitled “FORMS OF

OWNERSHIP” Was successfully completed by Student of Sixth
semester Diploma in computer engineering.

In partial fulfillment of the requirements for the award of the

Diploma in Computer engineering and submitted to the
Department of
Computer of Samarth Polytechnic, Belhe work carried out during
a period
for the academic year 2020- 21 as per curriculum.

Name of Student Enrolment Number

Prasad Santosh Bhumkar 1909920093

Prof.Tannu R.R. Prof. Pokharkar M.S. Prof. Kapile A.S.

(Subject Teacher) (H.O.D) (Principal)

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ACKNOWLEDGMENT

This project is done as a Fifth semester project, as a part course titled

“Forms of Ownership”.

We are really thankful to our course the Principal Prof. Kapile A. S. and the HOD
Prof. Pokharkar M.S. Samarth Polytechnic, Belhe for his invaluable guidance and
Assistance, without which the accomplishment of the task would have never been possible.

We also thank Prof.Tannu R.R. for giving this opportunity to explore into the
Real world and realize the interrelation without which a Project can never progress.
In our present project we have chosen the topic- “Forms of Ownership”.

We are also thankful to parents, friend and all staff of Computer engineering department,
For providing us relevant information and necessary clarifications, and great support.

Prasad Santosh Bhumkar

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INDEX

Sr.No. Name of Chapter Page

No.

Chapter 1 Synopsis 1
1. PROJECT TITLE

2. PROJECT OPTION

3. INTERNAL GUIDE

4. PROBLEM STATEMENT

Chapter 2 ABSTRACT 2

Chapter 3 INTRODUCTION 3

Chapter 4 HARDWARE & SOFTWARE REQUIREMENT 4

Chapter 5 SOLE PROPRIETORSHIP 5

Chapter 6 CORPORATION 6

Chapter 7 PARTNERSHIP 7

Chapter 8 COOPERATIONS 11
1. C-CORPORATION

2. S-CORPORATION

3. LIMITED LIABILITY COMPANY.

Chapter 9 Conclusion 15

Chapter 10 References 16

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 FORMS OF OWNERSHIP

CHAPTER 1
SYNOPSIS

Project Title

Forms of Ownership

Project Option

None

Internal Guide

Prof.Tannu R.R

Problem Statement

To design the Forms of Ownership using Internet.

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 FORMS OF OWNERSHIP

CHAPTER 2
ABSTRACT

The final project consists of forms of ownership. 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 own a piece of land means in truth to own a particular kind of right in the land,
namely, the fees fit.

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 a feudal
system based on land ownership, the feudal lords wielded tremendous influence, and even
the qualification to vote was based on ownership of land.

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CHAPTER 3

INTRODUCTION
The first decision you’ll make as a business owners is how your business
will be structured. You need to know the advantages and disadvantages of each of
the different forms of business organization to make sure you make the right
decision for your new business.

All businesses must adopt some legal of that configuration that defines the rights
and liabilities of participants in the business’s ownership, control, personal
liability, lifespan and financial structure. The form of business determines
which income tax return form to file and the company’s and owners legal
liabilities.

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 Forms of business ownership:

Forms of business ownership and types of businesses describe how they are
organized and run.

The four main forms of business ownership are listed below:

 Sole proprietorship

 Corporation

 Partnership

 Co-operatives

 A franchise is a combination, or hybrid, of the four forms of ownership.

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CHAPTER 4
HARDWARE & SOFTWARE REQUIREMENT

 Hardware Requirement:

I. i3 Processor Based Computer or higher

II.Memory: 1 GB RAM
III.Hard Drive: 50 GB
IV. Internet Connection

 Software Requirement:

I. Windows 10
II. Microsoft Word
III. Internet

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CHAPTER 5

SOLE PROPRIETORSHIP

The word sole means “Single” or “One”. The word proprietor means “Owner”.
A Sole Proprietorship, therefore, is a business owned by one person. The sole
proprietorship is the oldest and most common form of business ownership.
Approximately 75 percent of all business in the United States today a reorganized as
sole proprietorship.

Most Sole Proprietorships are small-

Business operations, each owed by an individual. An individual who starts a
business is known as an entrepreneur.
The vast majority of small businesses start out as sole proprietorships. 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:
1. The owner receives all profits.
2. Profits are taxed only once.
3. The owner makes all decisions and is incomplete control of the company (but
this could also be a disadvantage).
4. It is the easiest and least expensive form of ownership to organize.
5. They are easy to form, and the owners enjoy sole control of the business profits.

, Disadvantages:
1. The unlimited liability if anything happens in the business. Your personal
assets are at risk (including your home in Kansas City).
2. It is limited in raising funds and the owner might have to acquire consumer loans.
3. There is no separate legal status.
4. Unlimited Liability and it means when a person in the business pays the debts
by selling the assets in the business.
5. Taxes the sole proprietor pays taxes individually because all forms of capital
are invested by him and all documentation papers are registered by the name
of him.

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CHAPTER 6
CORPORATION

A corporation is considered by law to be a unique entity, separate from those

who own it. A corporation can be taxed, sued and enter into contractual agreements.
The corporation has a life of its own and does not dissolve when ownership
changes .A Corporation is a business granted legal status with rights, privileges, and
liabilities that are distinct from those of the people who work for the business.
Corporations can be small such as one-person business or large such as a
multinational that conducts 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 and become owners of the
business.

There are three types of corporations:

1. C-corporation,
2. S-corporation
3. Limited Liability Company.

1. C-corporation:
A C-corporation is a corporation that is taxed separately from its owners. It
gives the owners limited liability, which can encourage more risk-taking and potential
investment.

Advantages:
- It is limited liability.
- In regards to transfer of ownership, shareholders can sell their shares.
- The company pays fringe benefits.

Disadvantages:
- It is subject to double taxation. (Corporation and shareholder earnings are taxed.)
- It can be costly to form.
- C-corps pay corporate taxes at a different time than other forms of business.

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2. S-Corporation
S-corporation, also known as subchapter S-corporation, offers the owners
limited liability. S-corporations do not pay income taxes; the earnings and profits are
treated as distributions. 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 holders are limited to individuals, estates or trustees.
- Stockholders are limited to citizens or residential.

3. Limited Liability Company:

A limited liability company or LLC is a hybrid business structure that provides
the limited legal liability of a corporation and the operational flexibility of a
partnership or sole proprietorship. However, the formation is more complex and
formal than that of a general partnership.

Advantages:
- It is the most common business structure and is specifically created for small businesses.
- LLCs are usually taxed as a sole proprietorship.
- LLCs can have an unlimited number of owners.

Disadvantages:
- It requires yearly administrative costs.
- LLCs have a personal tax liability.
- Legal and accounting assistance is recommended for LLCs.

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CHAPTER 7
PARTNERSHIP

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 how decisions will be made,
how profits will be shared, how disputes will be resolved, how future partners will be
admitted to the partnership, how partners can be bought out or what steps will be
taken to dissolve the partnership when needed.

Partnerships present the involved parties with complex negotiation and

special challenges that must be navigated unto agreement. Overarching goals, levels
of give-and-take, areas of responsibility, lines of authority and succession, how
success is evaluated and distributed, and often a variety of other factors must all be
negotiated. Once agreement is reached, the partnership is typically enforceable by
civil law, especially if well documented. Partners who wish to make their agreement
affirmatively explicit and enforceable typically draw up Articles of Partnership. Trust
and pragmatism are also essential as it cannot be expected that everything can be
written in the initial partnership agreement, therefore quality governance and clear
communication are critical success factors in the long run. It is common for
information about formally partnered entities to be made public, such as through a
press release, a newspaper ad, or public records laws.

Advantages:
- It is easy to establish (with the exception of developing a partnership agreement).
- Separate legal status gives liability protection.
- Profits are taxed only once.
- Partners may have complementary skills.

Disadvantages:
- Partners are jointly and individually liable for other partners’ actions.
- Profits must be shared with the partners.
- Decision making is divided.
- Business can suffer if the detailed partnership agreement is not in place.

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CHAPTER 8
CO-OPERATIVES

A co-operative is owned by the workers or members who buy the products or

use the services that the business offers. This type of business is motivated by service
and not profit. Adaptations of this business model include consumer, retail, and
worker co-operatives.

A cooperative is a private business organization that is owned and controlled

by the people who use its products, supplies or services. Although cooperatives vary
in type and membership size, all were formed to meet the specific objectives of
members, and are structured to adapt to member's changing needs. A co-operative
usually only allows a limited distribution of 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:

- Generally inexpensive to register.

- All members must be active in the co-operative.
- Members have an equal vote at general meetings regardless of their level of investment
or involvement.
- Than directors, members can be aged less than 18years.These members cannot
stand for office and don’t have voting rights.

Disadvantages:

- As co-operatives are formed to provide a service to members rather than are turn
on investment, it may be difficult to attract potential members seeking a financial
return.
- There is usually limited distribution of profits to members and some co-operatives
may prohibit the distribution of any surplus.
- Members providing greater involve mentor investment than others will still only get one
vote.
- Requires on-going education programs for members.

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CHAPTER 9

CONCLUSION

Ownership is a socially significant concept because it is an index of wealth,

and social position. Ownership of land was the means of controlling government. In a
feudal system based on land ownership, the feudal lords wielded tremendous
influence, and even the qualification to 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.

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CHAPTER 11

REFERENCES

1. https://en.wikipedia.org/wiki/Frederick_Winslow_Taylor
2. https://courses.lumenlearning.com/wm-
introductiontobusiness/chapter/scientific-management-theory/
3. https://www.mindtools.com/pages/article/newTMM_Taylor.htm
4. https://www.business.com/articles/management-theory-of-frederick-taylor/

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ANNEXURE II

Evaluation Sheet for Micro Project

Academic Year: - 2020-21 Name of Faculty: - Diploma in Computer Engineering

Course: - MGT Course Code: - 22509 Semester: - VI

Title of Project: - Forms of Ownership

Cos addressed by the Micro Project: -

1. Use basic management principles to execute daily activities.

2. Use principles of planning and organizing for accomplishment of tasks.
3. Use principles of directing and controlling for implementing the plans.
4. Apply principles of safety management in all activities.
5. Understand various provisions of industrial acts.

Major Learning Outcomes achieved by students by doing the project:-

a) Practical Outcomes
…………………………………………………………………………………………………………..………………………………

b) Unit Outcomes in Cognitive domain

……………………………………………………………………………………………………………………………………………..
c) Outcomes in Affective Domain
………………………………………………………………………………………………………………………………………………
………………………………………………………………………………………………………………………………………………

Comments /suggestions about team work/leadership/inter-personal communication (if any)

……………………………………………………………………………………………………………………………………………………

……………………………………………………………………………………………………………………………………………………

Marks out of Marks out of

Roll No. 6 for 4 for
Student Name performance performance Total Out
in group in oral / of 10
activity presentation
(D5 Col.8) (D5 Col.9)
12 Prasad Santosh Bhumkar

Prof.Tannu R.R.

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(Name & Signature of

Faculty)

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