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Critique 1 - Gary Long Critique#1 PROTECTION Personal...

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Gary Long 5/8/11 Critique #1 PROTECTION: Personal business Many people that start small successful business are always left pondering whether to incorporate. A corporation allows for easy transfer after death of an owner/CEO. Proprietorships don’t offer the same luxuries. According to Rowson (2011), death and illness is a big issue facing small businesses (Protection: Personal Business, 2011). It’s interesting to note that it doesn’t have to be an owner, but rather it could be the main shareholder as well. In Rowson’s (2011) article it is mentioned how in a proprietorship usually a family member will take over the business. This family member may not be business savvy enough to keep the business afloat. While this is true, it’s possible for corporations to face very similar issues. In a corporation the board of trustees will select the new CEO in the event of illness/death. In many cases this person has an extremely high business IQ, but does not possess the moral character that the original owner had. In my opinion an
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