One Person Company: A Success Story
In this blog post, Aniket Chaudhry, a recent law graduate from Department of Law, University of Calcutta and a student pursuing a Diploma in Entrepreneurship Administration and Business Laws from NUJS, Kolkata, describes the benefits of a One Person Company and enumerates the same with some successful stories of one person companies.
Meaning of an OPC
Meaning of an OPC
One Person Company (OPC) can be understood as a structure where only one member will act in the capacity of a director as well as a shareholder. It combines most of the benefits of a sole proprietorship and a company form of business. It, therefore, takes away the hassle of finding a co-partner to start a registered business entity. The legal and financial liability lie with the Company and not the member. Hence nothing needs to be shared in the name of the partnership. If one has an idea, he/she can go ahead with it and start their own OPC. This has been defined in Section 2 (62) of the Companies Act, 2013.
