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Week 2 checkpoint BUS210

Week 2 checkpoint BUS210 - certificates of ownership The...

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Running head: COOL AIR AND FURNACE PROS 1 Cool air and Furnace Pros Kelli Lorenc BUS/210 April 7, 2011 Justin Philipp
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COOL AIR AND FURNACE PROS 2 Cool air and Furnace Pros “Furnace pros” has been a sole proprietorship business for the last decade recently the  owner Dave has decided to expand his business from just repairing furnaces to repairing both  furnaces and AC units. So he turned to his long time friend Albert who owned “cool Air” and  asked him if he would like to merge their business into a partnership, the company became  “Cool Air and Furnace Pros”. In order for them to expand they needed more capital so they  decided to make it a joint stock company so they could raise their capital by issuing stock 
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Unformatted text preview: certificates of ownership. The investors felt that they needed some security that in case the company went bankrupt the creditors would be unable to seek reimbursements from them, so David and Albert decided to make it a limited liability company. When that was in effect the investors bought joint stock in the company which allowed David and Albert to buy more trucks, hire and train employees to have the knowledge to work on both furnaces and AC units. This was a smart business decision merging their companies together; it has allowed them a lager customer base and has made them a more profitable company....
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