Business_Ownership_Fall2006

Business_Ownership_Fall2006 - Business Ownership Business...

Info iconThis preview shows pages 1–8. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Business Ownership Business Ownership MGMT 120 Lynn FIG IT Company Chiefs Company Chiefs CEO Chief Executive Officer COO Chief Operating Officer CFO Chief Financial Officer CIO Chief Information Officer Also Controller Ombudsman Structure: Two Types Structure: Two Types Legal Organizational Legal Forms of Organization (US) Legal Forms of Organization (US) Three primary considerations Tax Legal liability Operational and financial flexibility Legal Forms of Organization (US) Sole proprietorship Partnership (a legal entity with little protection) General Partnership Limited Partnership (LP) limited partner has limited liability Corporation (a legal entity with more protection) Closely held vs. publicly held Regular C Corporation (Inc.) S Corporation (S Corp) Closely held (organization) + partnership (tax) Limited Liability Company (LLC) Taxed like partners; limited liability Professional (PC) Unlimited liability; doctors, lawyers, accountants Multinational (MNC) Legal Form of Organization Sole Proprietorship One with the bike in taxation and liability Corporation Protection from liability but more difficult and expensive to operate In-between Forms...
View Full Document

Page1 / 20

Business_Ownership_Fall2006 - Business Ownership Business...

This preview shows document pages 1 - 8. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online