NATURE OF ORGANIZATION

Besides government department, an organization may be in the form of corporation or company. The basic difference between corporation and company is that corporation is created under the provisions of an act framed by either parliament (in the case of the central government) or by state legislature (in the case of state government) while a company is formed under the provisions of the companies act (presently the companies act, 1956).

In the case of a corporation, it is not necessary that the word corporation is affixed with the name, for example, Reserve Bank of India is a corporation though the word corporation has not been affixed with its name. in the case of a company, the word limited (in the case of a public limited company) or private limited (in the case of a private limited company) is affixed at the end of the name, for example, Infosys technologies Limited or Cinni Fans Private Limited.

While seeking information about the organization, it is desirable to have information about its product lines. Such information will help you to know whether the organization is according to your liking or not.

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