11CORP~1 - More On Business Forms Click to edit Master...

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Click to edit Master subtitle style More On Business Forms
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Choosing a Form of Business: Major Considerations Resources needed, both financial and human Liability: amount of financial risk you can tolerate Complexity of business
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Types of Liability What is unlimited liability? Owners responsible to pay for all debts of business What is limited liability? Owners responsible for losses only up to what they invest
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Basic Forms of Ownership Sole Proprietorship Partnership Corporation Number Sales 72% 6% 8% 13% 20% 81%
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Public V. Private Corporations Corporations can be Private Stock is held and not traded on a Public Exchange Public Stock is traded on a Public Exchange NYSE, NASDQ etc.
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Private Corporation Examples Halmark Amway Koch Industries Levi Straus and Co. Corporations whose stock is not traded. There can be many owners There can be trades or sales
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Private Corporations Cannot trade on open exchanges and thus are limited to private deals Sports teams are a good example Almost all Teams are Corporations (some are partnerships) Closely held (small number of owners Shares not often traded.
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This note was uploaded on 08/25/2011 for the course BUS 101 taught by Professor Rollins during the Spring '08 term at Miami University.

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11CORP~1 - More On Business Forms Click to edit Master...

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