We all know how to sign as we have to sign documents for almost everything, every written process requires signature such as if we want to open a bank account, need some certificate or take admission anywhere, we need to sign the required documents as it verifies our identity. So, what is this digital signature we are talking about? Let's see. In case of online activities that you do on the internet, in your computer, in your phone or anywhere else, etc. how will you authenticate yourself? Verify that it is you, we cannot take a pen and sign physically through the screen that's why we need digital signatures. It basically verifies that the file you are receiving is coming from which computer, for which computer and if the information is tampered or not. Now, you might be thinking that oh well, "I don't think I have ever used digital signatures" , but actually you already have used these digital signatures before. The most common example is the "username" and "password", only you know these information while creating your ID on any site so whenever you login into these sites, they act as digital signatures for you as when you enter information, the website verifies your identity and gives you access. Thus, we can say that a digital signature is equivalent to a handwritten signature and is an electronic verification of the sender.
According to the Companies Amendment Act, a private company is the only which i)has a minimum of two and maximum of 50 members to transfer their shares, ii)does not offer its shares to general public, iii)has a minimum paid up capital of rs 1,00,000. It is an ideal form of organisation for the public who wish to run a large scale business without involving large shareholding groups. A private company must use the words "Private Limited" or "Pvt Ltd" after its name. Flipkart, Amazon India etc are examples of Pvt companies in India.
We all know that small businesses are the backbone of the economy all over the world. According to Google, there are a total of 42.5 million units making up to 45% of the total Indian manufacturing output. To encourage these MSME ( medium, small and micro enterprises), the Government launched MSME registration which is now known as Udyog Aadhar Registration.
Limited Liability Partnership (LLP) is a type of partnership where the liability of the partners are limited. As we know, in case of traditional partnership deeds the liability of the partners are limited. LLP was introduced after passing Limited Liability Partnership Act, 2008 in India. It is a corporate entity that has the features of both partnership and company. Even though the liability of the partners are limited, they can organise the internal structure as a partnership based agreement.
What is a Private Company? According to the Companies Act, 2013, a private limited company is a company with a minimum of two members and maximum of 200 having no right to transfer their shares and also cannot offer its shares to the general public. The minimum paid up capital of such companies are Rs 1,00,000. The liability of these companies are limited only upto the amount of shares held by them. It uses the word “private limited” after its name.