Business Organizations Blank Chart(1).docx

Business Organizations Blank Chart(1).docx - Business...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Business Organizations Overview Considerations Sole Proprietorships Partnerships** Limited Partnerships*** LLCS Corporations Joint Venture Own Entity (Is the business its own entity?) No, it is run by an individual with no distinction between owner and business No, each partner is responsible for debts and liabilities incurred by other partner Yes a limited partnership is a separate legal entity between a managing partner and other partners Yes, LLC is its own tax entity, passing through without distinction to its owners Yes, a corporation is also a separate legal entity. Distinct from ownership No. Without employees or tax liabilities a joint venture usually happens to fulfill a specific contract Creation (dba filing needed in MN [for all forms] if using assumed name) Single person starting a business is defaulted into a Sole proprietorship Same as SP but with multiple owners One or more general partners and one limited partner file for a certificate of LP Filed articles of organization,
Image of page 1

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

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern