{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Week 2 checkpoint Business Organization

Week 2 checkpoint Business Organization - being taken to...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Week 2: CheckPoint: Business Organization After re-reading the information I have decided to go with Wal-Mart for the Joint - stock company and Limited Liability Company, and a Law Firm for Partnership, and a "mom and pop" store for sole proprietorship. Wal-Mart makes a good example for joint-stock company because the entrepreneur raises its capital by issuing stock certificates of its ownership. In other words the selling and buying of shares on Wall Street. Limited Liability is the legal system that prevents creditors from seizing the personal wealth of a company's stockholders to pay a company's debts. With this if Wal-Mart has a whole should go under this protects all stockholders from having their homes, cars, bank accounts, and so on from
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: being taken to help pay back what Wal-Mart owes. Law Firms are a great example for a partnership, because they normally start and grow with a some laws coming together and pooling their talents to establish a company in which they are the only stockholders and owners. Your "mom and pop" stores are your example for sole proprietorship. This is because a sole proprietorship is a no incorporated business entirely owned by one person. "Mom and pop" stores are started up and ran by one person and in turn they are the only ones with risk and something to lose. There is no stock to be sold and bought as well....
View Full 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