What are the steps for the formation of a company.class 11
Answers
4 Steps In The Formation Of A Company
Step # 1 – Promotion Of A Company
This is most important in forming a company. Having a promoter will be the first step in your company formation, and it is here where the talks and ideas are brought forth about building the company.
Step # 2 – Registration Of A Company
This is the most arduous part of the formation process as there is a lot of data, paperwork, talks with people, memorandums, declarations and other procedures that must be involved. In all honesty, this par alone can have its own article written about it because of how much work this step involves.
Step # 3 – Certificate of Incorporation
After the individual(s) have been able to hand in all the proper paperwork the individual will be given a certificate proving and showing that their business is legit.
Step # 4 – Certificate of Commencement of Business
After a person has received the certificate of Incorporation, they are now able to start their own business.
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Explanation:
Formation of Company There are two stages in the formation of private company, promotion and incorporation. A public company has to under go capital subscription stage and to the get certificate of commencement of business, to begin operation.