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Running a Private Company by itself is a huge responsibility on the members, and directors and its ramifications are faced by the shareholders and other stakeholders as well. Therefore, it becomes extremely important to comply with all the laws and rules, it keeps the business in operation without any hindrances.

One Person Company (OPC) is a type of Private Company that is operated by only one person as director and another person is appointed as the nominee. OPC was a great initiative giving a company structure to a sole proprietorship, bearing its own benefits such as limited liability, a separate legal entity among other things. Compliances of OPC are similar to that of a private company, however, being one person the requirements vary.

A private company is a company which is owned by non-Governmental organisations or a relatively small number of Shareholders or members of a company. Usually, a private company does not offer or trade its shares to the general public on the stock exchanges, but rather the private stock of the company is owned and traded.

The first step towards formation of a company is to prepare the company's charter documents. There are mainly two documents, Memorandum of Association (MOA) and Articles of Association (AOA). Section 2(56) of the Companies Act, 2013, hereinafter referred to as ‘the Act’ defines the term ‘Memorandum’ along with Section 4 dealing with contents of memorandum read with Schedule I of the Act. MOA has six definite clauses namely, the name clause, situation clause, object clause, liability clause, capital clause and subscription clause.

NGO (Non-Government Organisation) is an organization that works for non-profit/ charitable purposes. An NGO established as a Section 8 company under the Companies Act, 2013 is governed by the Ministry of Corporate Affairs whereas the NGO registered as a trust or society is governed by the registrar of state under the State Government.

Conversion of a proprietorship into a private limited company provides many benefits, but it also brings along the diffusion of power and loss of independence.

LLP Registration in India Limited liability partnership (LLP) is a corporate business that enables professional expertise and entrepreneurial initiative to combine and operate in a flexible, innovative, and efficient manner, providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure as a partnership.

A One Person Company is a company incorporated by a single individual. Before the Companies Act 2013, one person alone could not get a company incorporated and had to go for a Sole Proprietorship.