How to distinguish between a private enterprice and a single-member limited liability company?
| Private Enterprise | Limited Liability Company |
| Without legal status | With legal status |
| The owner's assets are not separate from the business's assets | The owner's assets are separate from the business's assets |
| The owner of a private enterprise is responsible with all of his or her assets for all activities of the enterprise | The owner is responsible for the debts and other property obligations of the business within the amount of capital committed to contribute to the business. |
| The owner of a private enterprise is also the legal representative of the enterprise | The Chairman of the Board of Members / President of the company is the legal representative of the company (unless otherwise specified in the Charter). |
| Private business owners have the right to sell or lease their entire business | The company owner has the right to transfer part or all of the company's charter capital to other organizations or individuals |
Above is a table outlining the differences between a private enterprise and a one-member limited liability company. Your company/business can refer to it to choose the appropriate type of company.
