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Yogita Ingle 4 years, 9 months ago
Following are the differences between MOA and AOA:
- Nature: MOA is the charter of a company indicating the objects and conditions on which the company is granted incorporation. It defines nature of business, objects of capital, structure of the company. On the other hand, AOA specifies rules and regulations of the company which are observed in conducting its internal affairs.
- Contents : Contents of MOA basically specify areas of operations of the company beyond which it cannot go. Contents of AOA deal with internal matters, laws, by-laws of the company.
- Relationships defined : MOA defines external relationship i.e., the relationship between the company and the outsiders. AOA defines internal relationship i.e., the relationship between the company and its members.
- Status : MOA, being the charter or constitution of the company, is subordinate only to the Companies Act while AOA is subject to subordination to both the Companies Act and MOA.
- Violation : Any act of the company in violation of
MOA is ultra vires and void even if it is ratified by all members of the company. Any act of the company in violation of the AOA can be ratified by majority of members of the company
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Entrepreneurship is the ability and readiness to develop, organize and run a business enterprise along with any of its uncertainties in order to make a profit. The most prominent example of entrepreneurship is the starting of new businesses.
In economics, entrepreneurship connected with land, labour, natural resources and capital can generate a profit. The entrepreneurial vision is defined by discovery and risk-taking and is an indispensable part of a nation’s capacity to succeed in an ever-changing and more competitive global marketplace.
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