What is the difference between a “private” entity and a “public” entity?
PRIVATE COMPANY:
A PRIVATE entity is regulated by the private members: President, Treasurer, Secretary of “Business Name”, and sometimes the Vice President– Hence: private: (Just like United States C-Corp). PRIVATE businesses will sometimes even have a GENERAL ATTORNEY– aka: Attorney General they reference to, appointed by the president (Just like the UNITED STATES of AMERICA– aka: United States C-Corp). The president will also select Board members for any available openings, as well (aka: Supreme Judges – Just like the United States of America – United States C-Corp). If the PRIVATE entity is big enough they may even have to have representatives (aka: House of Representatives– Just like the United States). A PRIVATE association, at a large size, will have to have a senate for the upper chambers (an assembly of people based on regions/province/states (aka: States Senates– Just like the United States). By now you may see that there is an ongoing theme… If you want to know how a PRIVATE Entity operates. Just look at the United States “government” which was converted into a business in 1886 into a PRIVATE business. The United States government still exist, but is not fully operated because people fall under the Public ruling (business terminology) and not a Republic ruling (government terminology). So if you are part of the “Public” you are ruled by the Private Business “United States Government C-Corp DBA: United States of America”. If you are part of the Republic, then you are not owned by the United States corporation but fall under the American Government and have the full rights of the constitution.
Taxation on a PRIVATE businesses are only charged sales tax and sales tax only (much cheaper than a PUBLIC company). A PRIVATE association, also must know the LAW very well because they have to represent themselves in any dispute. If the PRIVATE Entity has someone represent themselves in any dispute, the company forfeits its WATER RIGHTS and then is no longer sovereign and the government can treat it like a PUBLIC company. So choose your words and actions wisely... It matters! Last, a PRIVATE MEMBERS ASSOCIATION cannot be referred to as a "company" or "organization", because those terms are legal terms (basically giving up your lawful WATER rights). PRIVATE Entities can be referred to as "entity", "association" or "business", because these terms are lawful terms.
In a PRIVATE business, government cannot interfere with commerce. They can only regulate it. Only a PRIVATE business can buy out another PRIVATE business. In other words, PRIVATE entities and PUBLIC entities cannot buy-out each other. They also have to have one annual meeting yearly. They can have other meetings that have to be notified in the manner that all board members agree upon (Once again… Just like United States). You can convert a PRIVATE business into a PUBLIC company but you cannot reverse it. Just like the line from the song “Hotel California– You can stay but you can never leave”!
PUBLIC COMPANY:
A PUBLIC company is regulated by the people under the government in which the business is operating under: CEO, CFO, COO, and any CHIEF OFFICERS you can think of. Every business is different, so what they may have is different. But, what all PUBLIC companies have in common, is there has to be a CEO, CFO, and COO (equivalent to PRIVATE association's President, Treasurer, and Secretary). PUBLIC companies can be interfered and regulated by the government of which the PUBLIC company falls under. They also can never convert or be bought by a PRIVATE business. Only PUBLIC companies can by other PUBLIC companies. So there you have in a nut shell the difference between a PRIVATE and PUBLIC business.
A PUBLIC company is taxed based on what entity it chooses to be and if you are not sure, have an attorney assist you in any legal matters. If you are a PULBIC business owner, highly advisable to have a TAX lawyer on retention (they are the only ones that can represent in taxation and criminal defense in the legal system). Last, a PUBLIC business can be referred to as "company", "organization", "entity", "business", and sometimes "association"(this one will depend on some factors).
SUMMARY:
There you have it. The difference between a PRIVATE and PUBLIC business– One that is ran privately: is sovereign, has to know the law personally (not the legal system), and can only be regulated with far less taxation. The other is ran publicly: is not sovereign, can be interfered and regulated, highly advisable to have lawyers, and more taxation. And, they both can be called "entity" or "business".
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