A suit is a business-suite-like arrangement in which managers or other employees can take the reins of a company and oversee a company.
It is usually a management structure that includes a board of directors, a senior management team and a board that oversees the business, including employees.
The board can be composed of employees, managers and owners.
The owners are usually the company’s chief executives.
A hugo is a contract between the managers and the owners.
In a hugos business, the manager has control over the employees and the business is run by the owners, or directors, who are the bosses of the employees.
There are many different types of hugos, including traditional companies, corporate partnerships, limited liability companies and joint ventures.