F11-003 - Do Thi Van Anh.v.1.1.docx

According to goals private sector that profit seeking

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individuals or groups. According to goals, private sector that profit-seeking is a central goal while public sector have two goals in parallel: economic and socio-political. Difference with two organization aforementioned, voluntary sector are non-governmental and non-for-profit. It works based on their members and supporters. There are 3 form of legal structure: sole trade, partnership, and company. Sole trade can be organized by manufacturing and service entities, is not necessarily by one person.( John R.
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Dyson, 2010).. There are no differences between owner and management of business in the law. It is thus, private assets often indistinguishable from assets of business. A sole trade can lose his all possessions if the business failure. It said that a sole trade has unlimited liability. Sole trade accounts quite simple and have no specific legislation. A partnership is the same with a sole trade except that must have to at least two owners. Partner ship often grow when sole trade needs help such as they need more money to business ( John R. Dyson, 2010) Partnership is established and maintained between persons involved a business in common and they have a view of profit ( Legislation.gov.uk). But in Partnership Act 1890, related between members of company or association is not partnership( Legislation.gov.uk). The partners in a partnership also have unlimited liability like sole trade(John R. Dyson, 2010). Acceding to Limited Liability Partnerships Act 2000, in case business failure the members of a limited liability partnership must contribute private asset and so it prevent partners from personal bankruptcy. A company is another different type of business organisation that is incorporated (John R. Dyson, 2010). Name of company is resigned in Company House. Company is a legal “person” in the law while partnership is not legal “person”. It is an entity that separate from who own and operate it. So, members have no responsibility of the business debts and liability. What that means it if company bankruptcy, the owners will not compensate for the private damage each other. Company including two Acts: public limited company and private limited company. Public limited company that must include the letters „pectin their name and traded on an official stock market. Private limited company which must include „Ltd or „Limited in their title but it are not traded on an official stock market instead share transferable by direct contact and purchase from shareholder. 1.3 Explain the activities of Vietinbank in the respects of legal structure and its activity type and purpose Vietinbank is a public limited company. Vietinbank has a wide range of investor ( SBV: 64,46%, MUFG: 19.73%, IFC: 8,03%) while private limited company tend to be owned by a small number shareholder (Vietinbank.vn, 2018). Vietinbank under the control of the State because it separated from the State Bank and the State make up the majority of shares.
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Vietinbank not only have many activity for person but also for corporation. Vietinbank has
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