sole proprietorships
What is sole proprietorship?
one person owns all assets of a business
what are partnerships?
two or more parties cooporate to manage and opperate a business
What is the meaning of corporations?
a company authorized to act like a single entity
What are mergers?
when two or more companies decide to combind
What are two advantages of sole proprietorships?
keep all profits, and having complete control
what are three types of partnerships?
distribution partnership, brand partnership, and service partnership
what is the diffrence between corporations an sole proprietorships?
sole proprietorships have fewer ongoing formalities
What are three type of mergers?
Horizontal merger, vertical merger and conglomerates
what is one disadvantage of sole proprietorships?
liable for any debt, violations or loss
What are some example of general partnerships?
medical, legal, and creative
what are two types of corporations?
publicly heald corporations, and closely held corporations
What is the benifit of the horizontal merger?
corporations can set a good market price annd gain more profit
What is basic requirement?
name availability, tax identification number
two disadvantages of general partnerships?
liability, stability, and managment
What are two advantages of corporations?
transferable ownership, limited liability for owners
What is a vertical merger?
two or more firms involved in diffrent stages of producing the same good or service