fall 2008 business org slides

fall 2008 business org slides - What type of business...

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What type of business entity What should I think about BIG issue???
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Coffee (not cats) How well do you know your coffee? More variety - Better Taste -The Way Coffee Should Be Coffee For People Who Like Coffee Taste Our Passion In Every Cup Enjoy the Uncommonly Smooth Taste
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Coffee sellers – what type of entity? Corporation Franchise Partnership
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Major Traditional Business Forms Entrepreneurs have used three major forms to structure their business enterprises: Sole Proprietorship Partnership Corporation
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Sole Proprietorship The simplest form of business; used by anyone who does business without creating an organization. The owner is the business. The owner pays personal income taxes on all profits and is personally liable for all business debts. Big issue – unlimited liability
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Sole proprietorship What would you do if you were to start a sole proprietorship
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Partnership General partnerships : Created by agreement of the parties; not treated as an entity except for limited purposes. Partners have unlimited liability for partnership debts, and each partner normally has an equal voice in management. Income is “passed through” the partnership to the individual partners, who pay personal taxes on the income.
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Limited Partnerships Limited partnerships: Must be formed in compliance with statutory
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This note was uploaded on 02/05/2011 for the course BULE 302 taught by Professor Demory during the Spring '10 term at George Mason.

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fall 2008 business org slides - What type of business...

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