What is the Company? Types and Features

What is the Company? Types and Features

What is a Company
It is a legal structure established by one or more persons to produce goods or services for profit. These companies, which were established according to the TCC, have goals such as making a profit and serving the society in ensuring the continuity of life. There are a wide variety of company types and their unique features established for these purposes.

LTD. or A.Ş. Abbreviations such as these indicate how these companies were established, their capital structures, fields of activity, and types. This is not the only feature that enables companies to separate. In addition to these statements, there is an individual company, capital company, company types depending on whether they have one or more partners. Below is the descriptive information about the company structures and properties that are most traded in our country's economy:

Company Types and Features
Although the classification of companies is made according to the common features they have among themselves, these classifications are made in the form of doctrine, not due to the law. This classification includes legal personality, capital, and a sole proprietorship, liability of partners, capital structure, etc. It is made according to its features. Company types are divided into classes as follows:

Capital Companies
Anonymous
Limited
Shared commandite
Individual Companies
Collective
Ordinary Commandite
Ordinary company
Companies that can be established in both categories
E-Commerce
Factoring
Capital Companies
Capital companies are the type of companies that derive their power and value from their capital and management style. In this company structure, the responsibilities of the partners are limited by the amount of capital they are committed to providing. Follow: SNT, System, Networking, Server, Virtualization, Technology, System Solutions, Network Solutions, Server Solutions. If one or more of the partners leave in this company structure, the partnership does not deteriorate and the shares are not personal. Also, the shares owned can be transferred to other parties and sold. The most distinctive feature of this company structure is that the share of capital and the right to management are separated from each other. According to TCC, capital companies are divided into three sections. A joint-stock company, Limited company, and share (limited) limited partners.

1-) Joint Stock Company (AS)

The joint-stock company is one of the most suitable types of companies, consisting of at least 5 natural or legal persons, aiming to carry out economic activities to ensure high capital accumulation. The founding capital of this company must be at least 50.000 TL and the title of the company must be marked as A.O (joint-stock company) or A.Ş. (joint-stock company). Joint-stock companies are managed by the board of directors, the general assembly, and the audit unit.

2-) Limited Company (LTD.ŞTİ.)

Limited Liability Company is a type of company whose main capital amount is determined by one or more natural persons or legal entities to achieve all kinds of economic purposes by the law. The number of partners cannot exceed 50 people and their main capital cannot be under 10,000 TL. In this type of company, the capital consists of the total of the main capital shares. In this company structure, they are not responsible for all of the company's debts and are only responsible for the delegated capital shares and temporary payment obligations in the company contract. In this company type, the management unit consists of directors and in cases where the number of partners exceeds 20, the supervisory board and the general assembly are formed.

3-) Share (Limited) Commander Company

Shared Commandite company; capital is divided into shares, one or more of the company partners have unlimited liability to company receivables, while others are a limited liability. The most prominent feature of being a limited company is that the capital is divided into shares and there are at least 5 partners. The right to represent and manage the company belongs to the shareholders of the company with unlimited responsibility. In the operation of the company, if there is no binding article in the law other than these rules, the provisions of the joint-stock company are valid.

Individual Companies
Individual companies; It is a type of company that has a legal personality and its partners have unlimited responsibilities to achieve common economic interests. This type of company can be established by a single person, or it can be established by more than one real person, and the transfer of partnership is a difficult process, while the number of partners is usually few. After all of the partners have not approved, the share of the partnership cannot be transferred to other persons or sold. All of the partners are held liable for all assets against the creditors of the company. According to the TCC, private companies are divided into three.

1-) Collective Company

In Collective companies established by two or more partners, the partners are unlimited and jointly liable for corporate debts. While the company is responsible for debt and undertakings, company partners are held unlimited in second place. This limitlessness is also considered as a plus for the creditor. Also, in this type of company, each partner has the right and responsibility to manage the company at the same rate.

2-) Ordinary Commandite Company

While this type of company is a rare type of company in our country, it is a type of company that can be established between legal entities and natural persons. In ordinary limited companies, one or more of the partners are unlimitedly liable to creditors, while one or more of them are limited in liability. Unlimited partners can only be real persons and are referred to as a commanding, while legal entities can be limited partners and are referred to as a commander. In cases where company assets are insufficient in company receivables, the personal assets of commanders can be confiscated.

3-) Ordinary Company

It is the type of company that occurs when two or more natural persons combine their labor and property to achieve a specific commercial purpose. In this type of company, the company does not own any external assets and does not have a legal personality. For this reason, the company has shares in the assets of the partners and the partners must act together in the actions to be taken regarding the assets of the company.

COMPANIES THAT CAN BE ESTABLISHED IN TWO CATEGORIES
1-) E-Commerce Company

The e-commerce company is a company structure that aims to offer more attractive services and products than real stores at any time and place to meet the needs of customers and to make sales over the internet, where they can pay digitally. These companies are companies that can be established as individuals or capital companies. Setup and operation procedures differ depending on which company group they will be included in.

2-) Factoring Company

Factoring company; is a financial company used in domestic and foreign trade, especially in short-term product sales. The factoring, which is also defined as the whole of the receivables collection of the receivables in the commercial transactions, is the company that acquired the receivable rights arising from the sale of all kinds of services and goods of the companies that sell in a short term. These companies serve in three main sections as financing, collection (receivable), and guarantee. The establishment and functioning of the factoring companies are subject to the regulations determined by the Banking Regulation and Supervision Agency (BRSA).