Sole Ownership
These are the most common form of business in the U.S. and are owned by a single individual
Sole Proprietorships
this is defined by law as "an association of two or more persons who carry on as co-owners of a business for profit."
Partnership
Incorporators are individuals that create a corporation and tend to follow required state procedures called [blank_blank_blank]
Chartering the corporation
A [blank_blank] is a partnership established for a specific project or for a limited amount of time. They are popular in situations that call for large investments.
Joint Ventures
One disadvantage of a corporation is that they are subject to [blank_blank] so they have to divert additional funds towards the government.
Double taxation
Many sole proprietorships focus on providing what? Give an example.
Service
small retail stores, repair, counseling, childcare, salons
A [blank_blank] involves complete sharing in business management. And [blank_blank] involves one manager taking the lead while the other takes a back seat.
General partnership and limited partnership
A [blank_blank] is one whose stock anyone can buy, sell or trade such as McDonalds.
A [blank_blank] is owned by one or a few individuals who are closely involved with the business such as Publix
Public and Private
An [blank_blank] is a form of business ownership that limits the financial responsibilities of those involved and is taxed as though it was a partnership.
Limited Liability Companies
Board of directors
Ease and minimal cost of formation such as being able to conduct business from home, being able to keep secrets to yourself, and maximum flexibility of control on business decisions are all [Blank_blank_blank_blank]
Advantages of sole proprietorships
Most states require this form of documentation that list assets, contributions, and guidelines for the commitment that has taken place. Required or not, it is a good idea to have them in place.
Articles of partnership
[blank] are shares of a business owned by individuals
[blank] are payments that may be distributed in the form of cash
Stocks and Dividends
A [blank] is an organization composed of individuals or small businesses that have come together to gain benefits of a bigger organization. They buy in bulk and everyone involved saves.
Cooperation or Co-op
An [blank_blank_blank] is how a private corporation goes public and it does so by selling its stock so that it can be traded in the market.
Initial public offering
This is both an advantage and disadvantage of a sole proprietorship. The disadvantage impacting those making less than $75,000 a year.
Taxation
Combined knowledge and skills of each individual involved, ease of speaking to each other to make decisions fairly quickly, and having better earning power are all [blank_blank_blank]
Advantages of Partnerships
[blank_blank_blank] are government owned and tend to provide a service without earning a profit such as mail services.
[blank_blank] are also focused on providing a service but are not government owned such as the Red Cross and United Way. They make money through donations.
Quasi-public corporations and nonprofit corporations
This occurs when two companies that are usually corporations combine to form a new company
and this occurs when one company purchases another.
Merger and acquisition
Ease of transfer of ownership via stock, eternal life unless special circumstances occur, and limited liability are all [blank_blank_blank]
advantages of corporations
Unlimited liability of all costs, limited skills, and a lack of qualified employees due to revenue are all considered [blank_blank_blank_blank]
Disadvantages of sole proprietorships
the life of a partnership being dependent on the success of a business, unequal distribution of profits, and sharing business responsibilities are all [blank_blank_blank]
Disadvantages of partnerships
These individuals get their dividends paid out first but there is a dividend rate put in place and they have no say over company matters.
These individuals get paid out after primary dividends and they can vote even via proxy on company matters
Preferred stock owners and common stock owners
In a [blank_blank] a group of investors borrows money from banks and other institutions to acquire a company or a division of one. They use the assets of the purchased company to guarantee repayment.
Leveraged buyout (LBO)
Disadvantages of corporations