Sole
What is sole proprietorships?
business owner/manager by a single individual
What is corporation?
Legal entity by individual stock holders
What is a partnership ?
involves 2 or more owners
What is a business organization?
Establishment formed to carry out commercial enterprises
What are the types of corporations?
Closely held corporations, Publicly held corporations
What are corporate mergers?
2 or more companies deciding to combine
What types of partnerships are there?
General partnerships, limited partnerships, and limited liability partnerships
What do you need to start a sole proprietorship?
Authorization and site permit and a name
What are the advantages of incorporation?
Limited liability, transferable ownership , ability to attract capital , long life
Multinational Corp advantages ?
Provides jobs and products around the world, new technology and production methods, jobs help poor living standards
General the responsibility is shared equally and in limited there are 2 separate rolls
What are some advantages?
-owner keeps all the profit
-rum it how you want it
-you decide when to stop
Who makes major decisions and appoints corporate officers?
BOD(CEO,CFO,COO)
What is the difference between horizontal and conglomerate?
Horizontal is 2 or more firms competing in the same market, and conglomerate are at least 3 companies
What is important to have in a partnership?
Articles of partnership-partnership agreement