Business law
Business organizations
Basic forms:
Sole proprietorship
Corporation
Partnership (General · Limited · LLP)
USA:
Business trust · LLC · LLLP Delaware corporation Nevada corporation
UK/Commonwealth:
Limited company (By shares · By guarantee) (Public · Proprietary)
Civil law countries:
AB · AG · ANS · A/S · GmbH
K.K. · N.V. · OY · S.A.
European Company Statute
Doctrines
Corporate governance
Limited liability · Ultra vires
Business judgment rule
De facto corporation and corporation by estoppel
Piercing the corporate veil
Related areas of law
Contract · Civil procedure

An ansvarlig selskap is a Norwegian personal responsibility company model, mainly used in small-to-medium businesses, which translates directly into "Responsible Company". This reflects that the participants - or owners - are personally responsible for any outstanding debts the company would acquire. If one participant is unable to pay his or her share of the debt it can be collected in full from the other participants. It is usually abbreviated ANS when used in company names, however the abbreviation DA is also used. However, a DA, or ANS med Delt Ansvar, translates into "RC with Shared Responsibility". In this form, each of the participants can only be held responsible for as high a percentage of debts as outlined in a predetermined founding contract. A third form of the ANS is the enkeltmannsforetak, which, despite its name "single-person business", can still employ a given number of workers. The name comes from that there can only be one actual owner responsible for the company, and despite the option to employ a workforce, most businesses of this model only employ its owner. Conversely, the ANS model can have one or several responsible owners, while the DA can have two and more. The Enkeltmannsforetak model is particularly practical for freelancers, independents and other self-employed workgroups. Image File history File links Scale_of_justice. ... Commercial law or business law is the body of law which governs business and commerce and is often considered to be a branch of civil law and deals both with issues of private law and public law. ... Business organizations is an area of law that covers the broad array of rules governing the formation and operation of different kinds of entities by which individuals can organize to do business. ... A sole proprietorship is a business which legally has no separate existence from its owner. ... A corporation is a legal person which, while being composed of natural persons, exists completely separately from them. ... In the common law, a partnership is a type of business entity in which partners share with each other the profits or losses of the business undertaking in which they have all invested. ... This article needs to be wikified. ... A limited partnership is a form of partnership similar to a general partnership, except that in addition to one or more general partners (GPs), there are one or more limited partners (LPs). ... A limited liability partnership (LLP) is a form of business organization combining elements of partnerships and corporations. ... A Massachusetts business trust or MBT is a legal trust set up for the purposes of business in the state of Massachusetts. ... A limited liability company (denoted by L.L.C. or LLC in the US) is a legal form of business company in the United States offering limited liability to its owners. ... This article or section does not cite its references or sources. ... A Delaware corporation is a corporation chartered in the state of Delaware in the United States. ... It has been suggested that this article or section be merged into Nevada. ... It has been suggested that this article or section be merged into Limited liability company. ... In English Law and in many Commonwealth countries, a limited company by shares (limited or Ltd. ... A Company Limited by Guarantee (CLG) is a private company that does not have shareholders or share capital. ... The initials plc after a UK or Irish company name indicate that it is a public limited company, a type of limited company whose shares may be offered for sale to the pubic. ... A Proprietary limited company or abbreviated as under Australian law is a business structure that has at least one shareholder with a limited number of shares. ... Civil law is the predominant system of law in the world, with its origins in Roman law, and sets out a comprehensive system of rules, usually codified, that are applied and interpreted by judges. ... Aktiebolag is the Swedish term for a corporation, i. ... The German term Aktiengesellschaft (IPA /aktsiəngəzεlʃaft/) (abbreviated AG) means a corporation which is limited by shares, , owned by shareholders. ... An aksjeselskap is the Norwegian term for a stock-based corporation. ... Gesellschaft mit beschränkter Haftung (GmbH or GesmbH) is a type of legal entity created in Germany in 1892. ... Business corporation ) is a type of corporation ) defined under Japanese law. ... The term Naamloze Vennootschap (usually abbreviated NV) is the Dutch terminology for a public limited liability company. ... Osakeyhtiö, directly translated as share corporation, is the Finnish equivalent of Limited company (Ltd or LLC) or Gesellschaft mit beschränkter Haftung (GmbH). ... S.A. is the abbreviation of Société Anonyme in French, Spółka Akcyjna in Polish, Sociedad Anónima in Spanish, Sociedade Anónima in Portuguese, or Naamloze Venootschap (N.V.) in Dutch, generally designating corporations in various countries. ... The Council Regulation on the Statute for a European Company of the European Union (adopted October 8, 2001; OJ L 294, 10 November 2001, pp. ... Corporate governance is the set of processes, customs, policies, laws and institutions affecting the way a corporation is directed, administered or controlled. ... Limited liability (LL) is liability that is limited to a partner or investors investment. ... Ultra vires is a Latin phrase that literally means beyond the power. ... The business judgment rule is a case law-derived concept in Corporations law whereby a court will refuse to review the actions of a corporations board of directors in managing the corporation unless there is some allegation of conduct that (1) violates (a) the directors duty of care, (b... De facto corporation and corporation by estoppel are both terms that are used by courts to describe circumstances in which is a business organization that has failed to become a de jure corporation (a corporation by law) will nonetheless be treated as a corporation, thereby shielding shareholders from liability. ... The corporate law concept piercing (Lifting) the corporate veil describes a legal decision where an officer, director, or shareholder of a corporation is held liable for the debts of the corporation despite the general principle that those persons are immune from suits in contract or tort that otherwise would only... A contract is a promise or an agreement made of a set of promises. ... Civil procedure is the body of law that sets out the process that courts will follow when hearing cases of a civil nature (a civil action). These rules govern how a lawsuit or case may be commenced, what kind of service of process is required, the types of pleadings or... Look up company in Wiktionary, the free dictionary. ...

Unlike an aksjeselskap, anyone is eligible to start an ANS, as the model does not require any starting investment capital. Hence it is a widespread form of company in smaller, low-risk business areas. For more economically risky ventures, an A/S would be preferable, as the personal financial losses in the event of a bankruptcy would be limited to the capital invested - ie. with a bankrupted A/S with a 2 million NOK debt, the investors would only stand to lose the invested capital, minimum 100.000 NOK. In an ANS or enkeltmannsforetak, however, the owner would be personally responsible to repay the whole 2 million. In the case of several owners, where one is unable to pay, the entire sum would be collected from the others. Using the DA form with 2 investors and a 50% responsibility share, each would be responsible for 50% of the debt, and if one should be unable to pay (in the case of personal bankruptcy), the other would still have to carry no more than his 1 million NOK debt. An aksjeselskap is the Norwegian term for a stock-based corporation. ... The examples and perspective in this article or section may not represent a worldwide view. ... The Nok civilization thrived between 500 BC and 200 AD on the Jos Plateau in northeastern Nigeria. ... Personal bankruptcy is a procedure which, in certain jurisdictions, allows an individual to declare bankruptcy. ...

A company does not need to include the abbreviation for its type in its day-to-day business, although it is required to register this in its formal name. As an example, a self-employed plumber in an ANS could name his shop "John Smith Plumbing", while the mail address, legal documents and so forth would have to carry the name "John Smith Plumbing ANS".