Sole proprietorships
Sole proprietors must be held personally for any debts/issues
Responsible or liable
A legal entity that is owned by individual stockholders
What is a corporation
The most common partnership
General
Merger of 2/more forms involved in different stages of producing the same good
What is a vertical merger
Business that is owned and managed by one person
A sole proprietorship
Corporation that sells stock on the open market.
publicly held corporation
A limited partnersihp need at least general partner
One
the combination of two or more firms competing in the same market with the same good or service
What is a horizontalmerger
The most common way to start/do a business
A sole proprietorship
License to form a corporation issued by state government.
certificate of corporation
No one can be held liable for the actions of other partners
What is limited liability partnership
when stockholders are taxed once as corporate profit and again as personal income
whatis double taxation
Sole proprietorships do not pay these as a business
What are taxes
Closely held corporations typically give stocks to
Family members or anyone the trust
Business affirmed owned/run by 2 or more partners
What is partnership
an organization that manufactures and markets products in many different countries and has multinational stock ownership and multinational management
multinational corporation