Partnership
How many types of partnerships are there ??
3
What is sole proprietor ship
A business owned and managed by a single individual
What is stock?
Certificate of ownership
What are the 3 corporate mergers?
Horizontal, vertical, conglumrates , mergers
What May directors decide to do once their corporations grow?
They may decide to merge their companies
In a limited partnership ,what type of partner takes personal liability?
General partnership
Name two advantages of sole proprietorship
One person in change/ regulations
What is a publicly held corporation?
Many shareholders who buy and sell stock
What is a horizontal merger?
A merger of two or more firms
What are three types of partnerships?
General, limited and limited liability
If you don’t make articles of partnership in California, you fall under what legal act ?
Uniform partnership act
Name two disadvantages of sole proprietorship?
Unlimited personal liabilities , unlimited access to resources
What is the definition of corporation?
Legal entity owned by individual stock stock holders
What’s on the horizontal merger ?
John Rockefeller standard oil company followed their method
Why is the corporation defined as an “entity”?
Because it actually has a legal identity
What should you make to legitimize your partnership ?
Articles of partnership
Explain the difference between business organization and sole proprietorship?
Business organization is an enterprise and sole proprietorship is a small business
Usually family members
Closely held corporations
What is merge
When two or more companies decide to combine
What are some resources to start a business and how do small business get these resources?
Money, equipment, experience
They use their savings or take out loans to get started