INTRODUCTION

In liberalised economies such as Zambia government has been making efforts to have a private sector run economy. For a private businesses, there are different forms of entities through which business can be conducted. This module explores the different forms of entities that a business can operate under. The module begins by explaining what is meant by business and explains the different entities through which that business may be conducted. The module explores the types with a look at sole trader business, partnership, company and cooperatives. The module highlights how each of the said entities are established and the character each one has, how they are run and wound up.

OBJECTIVES

The objectives of this module are:

• To explain what a business is
• To identify and explain the different entities through which business can be conducted
• To examine the legal framework under which each of the business entities are established
• To explain the procedures for establishing each of the business entities identified
• To explain the operations of the different business entities established
• To examine the legal provisions for dissolution of the business entities identified.

LEARNING OUTCOMES

At the end of the module you should be able to:

• Know and explain what a business is
• Identify and explain the different entities through which business may be conducted
• Know and apply the legal provisions for establishment of the business entities identified
• Know and apply the procedures for stablishing each of the entities identified
• Know and explain how each of the legal entities identified operate
• Know and apply the legal provisions for the dissolution of the each business entity identified

UNIT 1 – BUSINESS ENTITIES: AN INTRODUCTION

UNIT 2 – SOLE TRADER

UNIT 3 – PARTNERSHIP BUSINESS

UNIT 4 – COMPANY  

UNIT 5 – COOPERATIVES

 

RECOMMENDED READING:

Klein William A, Ramseyer Mark J. Bainbridge Stephen M. (2010). Business Associations: Cases and Materials on Agency, Partnerships and Corporations. Foundation Press

Malila Mumba. (2019). The Law of Business Associations in Zambia: An Introduction. Juta & Company Publishing.