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hich the sole owners co-labor with others to achieve and share profits or losses. Partnerships occur in many occasions regardless the sectors that an individual involves. A non-profit organization, for example, many partners is being organized to increase the chances of achieving their missions. Partnerships will have widely varying results and can present partners with special challenges. Levels of give-and-take, areas of responsibility, lines of authority, and principal goals of the partnership must all be negotiated. While partnerships stand to increase mutual interests and success, some are considered ethically problematic. When a politician, for example, partners with a formation in an organization to advance the business's interest in exchange for some benefit, a clash of interest may make the partnership challenging from the perspective of the community good. Developed countries often strongly standardize certain partnerships via anti-trust laws, so as to prevent dominant practices and temporary free market competition. Among settled countries, business partnerships are often favored over corporations in taxation policy, since dividend taxes only occur on profits before they are distributed near the partners. However, be contingent on the partnership structure and the rule in which it operates, owners of a partnership may be exposed to greater private liability than they would as shareholders of an organization. (Undp, 2009)

3.4 Corporation

A corporation is a legal entity that is shaped under the laws of a State designed to establish the entity as a separate legal entity having its own privileges and accountabilities distinct from those of its members. The structure of a corporation is complex. It is more exclusive to organize this type of business compared to the other two business entities. Corporate control lies with the person who has rights of the most shares of stock. If a single stockholder or a group of stockholders own at least 51% of the stock they can make decisions of the policies that will be offered. Corporations will have an annual meeting of stockholders and regularly scheduled meetings for the board of directors with proceedings kept to document their decisions. The size of the corporation will affect how formally or informally it can operate. Smaller corporations might operate less officially, but still need to keep proper documentation. In those kinds of cases stock ownership is generally where the liability is limited to lest there was a fraud committed. For example, DiGi is a homegrown brand but is financially backed up by a foreign company, Telenor ASA from Norway, which holds more than 60% of the company portion. DiGi is the first company in Malaysia that introduced GPRS and EDGE technologies into the country. DiGi is famous and well-known for its yellow man icon (Pip, 2008)

3.5 Conglomerates

Conglomerates in business, a corporation formed by the procurement by one firm of several others, each of which is engaged in an activity that generally differs from that of the original. The organization of such a corporation may wish to expand its field of operations for a number of reasons: making additional use of existing plant facilities, refining its marketing position with a broader range of products, or decreasing the inherent risk in depending on the request for a single product. There may also be financial advantages to be grown from the reorganizat