Introduction to Business - Posted

Managing in general partnerships each partner has in

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Unformatted text preview: or general partner. managing In general partnerships, each partner has In unlimited liability. unlimited Corporate Form of Ownership Corporate Origin of the term: – From Latin corpus, which means From corpus which “body” “body” A legal entity with a life of its own, legal apart from those who manage it apart – Can sign contracts Can – Can sue and be sued Articles of Incorporation filed with state serves as “birth certificate” for corporations. corporations. A single person can be a corporation, single does not need to be lots of owners. does Corporations Corporations What are the main advantages of incorporating a What business? business? → Limited liability, and more money can be raised Limited What gives them limited liability? What → The separation of ownership from control. The Typical Corporate Structure The stockholders own the company; majority rules. The Corporation The Board of Directors govern the corporation. The officers manage the company and make the dayto-day decisions...
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This document was uploaded on 11/01/2011 for the course BUS 101 at Miami University.

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