Week 2 checkpoint Business Organization

Week 2 checkpoint - being taken to help pay back what Wal-Mart owes Law Firms are a great example for a partnership because they normally start and

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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
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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....
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This note was uploaded on 07/22/2010 for the course BUSINESS M AACL0R7SE6 taught by Professor Grovermcdaniel during the Summer '09 term at University of Phoenix.

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