Maharashtra State Board of Technical Education

Mumbai. (M.S.B.T.E)

MICRO PROJECT
On
“Types of Ownership”

Submitted by
Harshal Arun Patil
Vedant Manoj Lakde

G.S. Mandal’s

Department of Computer
Engineering Marathwada Institute of
Technology, Polytechnic, Chh.
Sambhajinagar.

Academic Year: - 2023-2024

 MAHARASHTRA STATE
BOARD OF TECHNICAL EDUCATION

CERTIFICATE
This is to certify that : -
Roll Enrollment Exam
Name of Student
No. No. Seat No.
26 Harshal Arun Patil 2100660107

07 Vedant Manoj Lakde 2100660059

have successfully completed “Types of Ownership” Micro-project for the

subject MGT as in the enclosed ‘Portfolio’ during her tenure of Completing the
Diploma in Computer Engineering (CO6I) in Academic Year 2023-2024 from
M.I.T. Polytechnic, Chh.Sambhajinagar with Institute Code 0066.

Date:

Prof. Jai.Singh Prof. A.S.Nagrik

Guide H.O.D.

Principal

Marathwada Institute of Technology,

Polytechnic, Chh. Sambhajinagar.
 INDEX

Annexure-IV Micro Project Teacher Evaluation Sheet

Annexure-I A “Format for Micro-Project Proposal”

1.0 Aim/Benefits of Micro Project (minimum 30-50 words)

2.0 Course Outcomes Addressed

3.0 Proposed Methodology (procedure in brief that will be followed to do the micro-
project in about 100-200 words.)

4.0 Action Plan (Sequence and time required for major activity.)

5.0 Resources required (major resources such as row material, some machining facility,
software etc.)

Annexure-II A “Format for Micro-Project Report”

1.0 Rationale (Importance of the project, in about 30 to 50 words. This is a modified

version of the earlier one written after the work)

2.0 Aim/Benefits of Micro Project:

3.0 Course Outcomes Achieved (Add to the earlier list is more Cos are addressed)

4.0 Literature Review

5.0 Actual Methodology Followed (Write step wise work done, data collected and its
analysis (if any). The contribution of individual member may also be noted.)

6.0 Actual Resources Used (mention the actual resources used).

7.0 Outputs of the micro projects (Drawings of the prototype, drawing of survey,
presentation of collected data, findings etc.)

8.0 Skill Developed/Learning outcome of this micro project

9.0 Applications of this micro project

 Annexure-IV
Micro Project
(Teacher Evaluation Sheet)
Name of Programme: Diploma in Computer Engineering Semester : - 6th
Course Title : MGT Code:22509
Title of Micro Project: Types of Ownership
Course Outcomes Achieved:
1. Use basic management principles to execute daily activities.
2. Use principles of planning and organizing for accomplishment of tasks.
3. Use principles of directing and controlling for implementing the plans.
4. Apply principles of safety management in all activities.
5. Understand various provisions of industrial acts.

Process Individual Total

and Presentatio Mark
Roll Enrollment Exam
Name of Student Product n/ Viva s
No. No. Seat No.
Assessmen (04) (10)
t t (06)
26 Harshal Arun Patil 2100660107

07 Vedant Manoj Lakde 2100660059

Comments / Suggestions about work:

Signature of Teacher : ______________________

Name and Designation : Jai.Singh

of the Teacher
 Annexure-I
Micro-Project Proposal
(Format for Micro-Project Proposal About 1-2 pages)

Title of Micro-Project: Types of Ownership

1.0 Aim/Benefits of Micro Project (minimum 30-50 words)
Ownership, in its most comprehensive signification, denotes the relationship between a
person and any right that is vested in him. That which a man owns is in all cases a right.
When, as is often the case, we speak of the ownership of a material object, this is merely a
convenient figure of speech. To own a piece of land means in truth to own a particular kind
of right in the land, namely, the fee simple of it. Ownership is a socially significant concept
because it is an index of wealth and social position. Ownership of land was a means of
controlling the government. In a feudal system based on land ownership, the feudal lords
wielded tremendous influence, and even the qualification to vote was based on
ownership of land.
2.0 Course Outcomes Addressed
1. Use basic management principles to execute daily activities.
2. Use principles of planning and organizing for accomplishment of tasks.
3. Use principles of directing and controlling for implementing the plans.
4. Apply principles of safety management in all activities.
5. Understand various provisions of industrial acts.

3.0 Proposed Methodology (Procedure in brief that will be followed to

do the micro-project in about 100-200 words.)
1. In this micro project, first we have focused on selection of appropriate topic
forthe micro-project.
2. We have decided our topic i.e., “Types of Ownership”
3. Then we did literature survey on our topic and gained knowledge about topic.
4. Then we gathered all information based on the topic of micro-project.
5. We have done analysis and study of our topic in detail.
6. By doing all the above methodologies we have successfully done our micro project.
 4.0 Action Plan (Sequence and time required for major activity.)

Sr. Details of Activity Planned Planned Name of

No Start Date Finish Date Responsible
Team Members

1. 01/01/2024 08/01/2024 Harshal,

Discussion and finalization Vedant

of topic

2. 09/01/2024 15/01/2024
Preparation and Harshal,
Vedant
submission of Abstract

3. 16/01/2024 18/01/2024 Harshal,

Collection of Data Vedant

4. 19/01/2024 30/01/2024 Harshal,

Discussion and outline of Vedant

Content

5. 01/02/2024 08/02/2024 Harshal,

Formulation of Content Vedant

6. 09/02/2024 12/02/2024 Harshal,

Editing and proof Reading of Vedant

Content

7. 13/02/2024 18/02/2024 Harshal,

Compilation of Report Vedant
5.0 Resources required (major resources such as row material, some
machining facility, software etc.)

Sr. Name of Specification Qty. Remarks

No Resource/Material
Computer with -
1 Hardware Resource RAM 8GB, 1

2 Software Resource Microsoft word 1 -

3 Any Other Resource Internet - -

Names of Team Members with Roll No.: -

Roll No. Name of Student

26 Harshal Arun Patil

07 Vedant Manoj Lakde

 Annexure-II
Micro-Project Report
(Format for Micro-Project Report minimum 4 pages)

Title of Micro-Project : - Types of Ownership

1.0 Rationale (Importance of the project, in about 30 to 50 words. This is a

modified version of the earlier one written after the work)

The perspective entrepreneurs need to identify the legal structure that will best suit the
demands of the venture before deciding how to organize an operation for business. For
establishing a business the most Important task is to select a proper form of organization as
the conduct of business, its control acquisition of capital, extent of risk, distribution of profit,
legal formalities, etc. all depend on the form of organization. The necessity for choosing a
suitable form derives from changing tax laws, the availability of capital or fund, liability
situations, and the complexity involved in formation of business.

2.0 Aim/Benefits of Micro Project:

Ownership, in its most comprehensive signification, denotes the relationship between a

person and any right that is vested in him. That which a man owns is in all cases a right.
When, as is often the case, we speak of the ownership of a material object, this is merely a
convenient figure of speech. To own a piece of land means in truth to own a particular kind
of right in the land, namely, the fee simple of it. Ownership is a socially significant concept
because it is an index of wealth and social position. Ownership of land was a means of
controlling the government. In a feudal system based on land ownership, the feudal lords
wielded tremendous influence, and even the qualification to vote was based on
ownership of land.
3.0 Course Outcomes Achieved (Add to the earlier list is more Cos
are addressed)

1. Use basic management principles to execute daily activities.

2. Use principles of planning and organizing for accomplishment of tasks.
3. Use principles of directing and controlling for implementing the plans.
4. Apply principles of safety management in all activities
5. Understand various provisions of industrial acts.

4.0 Literature Review : -

To work on this microproject we took the help from various websites.

Websites are as follows:

1. https://www.upgrade.com
From this websites select topic of microproject.

2. http://www.simplynotes.in
From this websites we collect the content of aim benefits, importance of microproject
and rational etc.
3. https://www.g2.com
From this microproject we collect the information of solo ownership.

4. https://www.fool.com
From this microproject we collect the detailed the information of types of ownership.

5. https://businesscon.org
From this websites we collect the information of application of this microproject.

6. https://quizlet.com
Form this websites we collect the microproject related pictures.

5.0 Actual Methodology Followed (Write step wise work done, data
collected and its analysis (if any). The contribution of individual member
may also be noted.)
1. In this micro project, first of all we have focused on selection of appropriate topic for
the micro-project.
2. We have decided our topic i.e., “Types of Ownership”
3. Then we did literature survey on our topic and gained knowledge about topic.
4. Then we gathered all information based on the topic of micro-project.
5. We have done analysis and study of our topic in detail.
6. By doing all the above methodologies we have successfully done our micro project.
6.0 Actual Resources Used (mention the actual resources used).

Sr. Name of Specification Qty. Remarks

No Resource/Material
Laptop with -
1 Hardware Resource 1
RAM 8GB,

2 Software Resource Microsoft word 1 -

3 Any Other Resource Internet - -

7.0 Outputs of the micro projects (Drawings of the prototype, drawing of

survey, Presentation of collected data, findings etc.)

: Detailed given below

1. INTRODUCTION
The first decision you’ll make as a business owner is how your business will be
structured. You need to know the advantages and disadvantages of each of the different
forms of business organization to make sure you make the right decision for your new
business. All businesses must adopt some legal of that configuration that defines the
rights and liabilities of participants in the business’s ownership, control, personal liability,
lifespan and financial structure. The form of business determines which income tax
return form to file and the company’s and owner’s legal liabilities.

Fig: Types of Ownership

Forms of business ownership and types of businesses describe how they are organized
and run. The four main forms of business ownership are listed below:
1. Sole proprietorship
2. Corporation
3. Partnership
4. Co-operatives a franchise is a combination, or hybrid, of the four Types
of Ownership.
2. SOLE PROPRIETORSHIP

The word sole means “Single” or “One”. The word proprietor means “Owner”. A Sole
Proprietorship, therefore, is a business owned by one person. The sole proprietorship is
the oldest and most common form of business ownership. Approximately 75 percent of
all business in the United States today is organized as sole proprietorship.
Most Sole Proprietorships are small-business operations, each owed by an individual. An
individual who starts a business is known as an entrepreneur.
The vast majority of small businesses start out as sole proprietorships. These businesses
usually are owned by one person, aka the individual who has day-to-day responsibility
for running the business. Sole proprietors can be independent contractors, freelancers or
home-based businesses.

Advantages:
1. The owner receives all profits.
2. Profits are taxed only once.
3. The owner makes all decisions and is in complete control of the company (but this
could also be a disadvantage).
4. It is the easiest and least expensive form of ownership to organize.
5. They are easy to form, and the owners enjoy sole control of the business profits.

Disadvantages:
1. There is unlimited liability if anything happens in the business. Your personal assets
are at risk (including your home in Kansas City).
2. It is limited in raising funds and the owner might have to acquire consumer loans.
3. There is no separate legal status.
4. Unlimited Liability and it means when a person in the business pays the debts by
selling the assets in the business.
5. Taxes the sole proprietor pays taxes individually because all forms of capital are
invested by him and all documentation papers are registered by the name of him.

Example:
• Art studio,
• A local grocery,
• IT consultation service
 3. CORPORATION

- A C-corporation is a corporation that is taxed separately from its owners. It gives the
owners
- limited liability, which can encourage more risk-taking and potential investment
- In regards to transfer of ownership, shareholders can sell their shares.
- The company pays fringe benefits.
- It is subject to double taxation. (Corporation and shareholder earnings are taxed.)
- C-corps pay corporate taxes at a different time than other forms of business.
A corporation is considered by law to be a unique entity, separate from those who
own it. A corporation can be taxed, sued and enter into contractual agreements. The
corporation has a life of its own and does not dissolve when ownership changes. A
Corporation is a business granted legal status with rights, privileges, and liabilities that
are distinct from those of the people who work for the business. Corporations can be
small such as one-person business or large such as a multinational that conducts business
in several different countries. Small portions of corporate ownership that are owned
publically are called stocks or shares. Individuals who own shares of a corporation are
called shareholders and become owners of the business.

There are three types of corporations:

1. C-corporation,
2. S-corporation
3. Limited Liability Company.

1. C-corporation:

Advantages:
- It is limited liability.

Disadvantages:
It can be costly to form.

2. S-Corporation

S-corporation, also known as subchapter S-corporation, offers the owners limited

liability. S- Corporations do not pay income taxes; the earnings and profits are treated as
distributions. The shareholders must report their income on individual income tax returns.
 Advantages:
- It enjoys limited liability.
- It avoids double taxation.
- It offers transfer of ownership.

Disadvantages:
- Legal and accounting assistance is recommended for LLCs.
- It can be costly to form.
- Stockholders are limited to individuals, estates or trustees.
- Stockholders are limited to citizens or resident aliens of the United States.

3. Limited Liability Company:

A limited liability company or LLC is a hybrid business structure that provides

the limited legal liability of a corporation and the operational flexibility of a partnership
or sole proprietorship. However, the formation is more complex and formal than that of a
general partnership.

Advantages:
- It is the most common business structure and is specifically created for small
businesses..
- LLCs are usually taxed as a sole proprietorship.
- LLCs can have an unlimited number of owners.

Disadvantages:
- It requires yearly administrative costs.
- LLCs have a personal tax liability.
4. PARTNERSHIP

Partnership two or more people share ownership of a single business. Like

proprietorships, the law does not distinguish between the business and its owners. The
partners should have a legal agreement that establishes how decisions will be made, how
profits will be shared, how disputes will be resolved, how future partners will be admitted
to the partnership, how partners can be bought out or what steps will be taken to dissolve
the partnership when needed.

Partnerships present the involved parties with complex negotiation and special
challenges that must be navigated unto agreement. Overarching goals, levels of give-and-
take, areas of responsibility, lines of authority and succession, how success is evaluated
and distributed, and often a variety of other factors must all be negotiated. Once
agreement is reached, the partnership is typically enforceable by civil law, especially if
well documented. Partners who wish to make their agreement affirmatively explicit and
enforceable typically draw up Articles of Partnership. Trust and pragmatism are also
essential as it cannot be expected that everything can be written in the initial partnership
agreement, therefore quality governance and clear communication are critical success
factors in the long run. It is common for information about formally partnered entities to
be made public, such as through a press release, a newspaper ad, or public records laws.

Advantages:
- It is easy to establish (with the exception of developing a partnership agreement).
- Separate legal status gives liability protection.
- Profits are taxed only once.
- Partners may have complementary skills

Disadvantages:
- Decision making is divided.
- Partners are jointly and individually liable for other partners
- Profits must be shared with the partners.
- Business can suffer if the detailed partnership agreement is not in place.
5. CO-OPERATIVES
• Members have an equal vote at general meetings regardless of their
level of investment or involvement.
• Than directors, members can be aged less than 18 years. These members cannot
stand for office and
• As co-operatives are formed to provide a service to members rather than a
return on investment, it may be difficult to attract potential members seeking a
financial return.
• There is usually limited distribution of profits to members and some co-
operatives may prohibit the of distribution of any surplus.
• Members providing greater involvement or investment than others will still only
get one vote,
• Requires on-going education programs for members.

6.CONCLUSION

Ownership is a socially significant concept because it is an index of wealth, and

social position. Ownership of land was the means of controlling government. In a

feudal system based on land ownership, the feudal lords wielded tremendous

influence, and even the qualification to vote was based on ownership of land. The

social aspect of ownership also highlights the important principle that on owner shall

enjoy his interest in a manner compatible with the interest of others.

8.0 Skill Developed/Learning outcome of this micro project

a) Increasing knowledge about that topic.

b) Enhanced leadership quality.

c) Improving group working skills

d) Enhanced Coding/Programming/Designing skills.

9.0 Applications of this micro project : -

- It is used to understand Types of Ownership when we want start our startup business.

********