Nandini did her post-graduation from Manipur University, Imphal. She had good job offers from several metropolitan cities but she thought of doing some creative work in Imphal. She observed that a special type of chilli was grown by the farmers of most of the villages around Imphal. This chilli has a distinct flavour and the pickle made from it also had a peculiar taste, but the local farmers were neither trained in farming of this kind of chilli on a large scale nor was there a secured market for their produce. Nandini shared this with her friends Dorjee and Shizu. Dorjee was an MBA in marketing and Shizu had done a basic course in food production and preservation. Nandini, Dorjee and Shizu formed an organisation for doing the business of pickle manufacturing using these chilies. Each of them contributed ₹2 Lakh towards the capital and decided to share the profits equally. They also agreed that any of them can act on behalf of all of them. Each one of them will be the principal as well as the agent of each other.

a. Identify the type of business organisation started by Nandini, Dorjee and Shizu. b. Quoting the lines, state the two features of the type of business organisation identified in part (a) above.