CH01.1 - F UNDAMENTALS OF BUSINESS ORGANIZATIONS F OR...

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FUNDAMENTALS OF BUSINESS ORGANIZATIONS FOR PARALEGALS THIRD EDITION Deborah E. Bouchoux
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Chapter One Introduction to Business Organizations and Agency Law
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Key Types of Business Enterprise Sole proprietorships General partnerships Limited partnerships Limited liability partnerships Limited liability companies Business corporations Professional corporations S corporations Close corporations
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Sole Proprietorship Business owned and operated by one person
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General Partnership Business co-owned by two or more persons
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Limited Partnership Business created under a state statute in which some partners have limited liability
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Limited Liability Partnership Business entity providing limited liability for its partners
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Limited Liability Company Business providing limited liability and pass-through tax status for its members
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Business Corporation Legal entity existing under the authority of the state legislature
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Professional Corporation Corporation formed by professionals, such as doctors, lawyers, accountants, and engineers
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S Corporation Corporation that passes through all income to its shareholders, who pay tax on income received
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  • Fall '11
  • StephanieFerill
  • Corporation, Limited Liability Company, Limited liability partnership, business corporation, P rofessional Corporation

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