{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Introduction to Business - Posted

Managing in general partnerships each partner has in

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

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...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online