Corporations
Public and private (Order does not matter)
Vertical, horizontal, and conglomerates
What is sole proprietorship?
Business owned and run by one person
What are the three types?
General, limited, and limited liability
What are stockholders?
Partial owner of company - Separate from Board of Directors
One type needs how many when merging if all of them produce in different markets?
3
How easy is it to start a business?
Extremely.
What must partners have?
Partnership agreement
What is a Board of Directors?
Manages a company’s structure
How do multinationals work?
They work in one or more countries
Name two advantages
Ease of startup, regulations, and one person in charge.
What is the best advantage of partnerships?
Larger pool of capital
What is the job of a Board of Directors?
To follow the owners/stockholders wishes
What must multinationals do?
Pay taxes/follow laws
What is the worst disadvantage?
What can happen when there is a dispute between partners?
Break of partnership agreement
What is the idea of long life of corporations?
The ownership passes to others
Difference between of vertical and horizontal mergers
What are fringe benefits?
Benefits that positively affect employees
Is there unlimited liability for certain partnerships? If so, which one(s)?
Yes, general and limited