Class Notes 2-27 - Class Notes Sole Proprietorship One...

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Class Notes 2/27/12 Sole Proprietorship - One individual that does business in his or her own name. dba – “Doing business as” Filing Requirements – Business License - Individually Liable for all debts - Taxation – Taxes are paid as an individual. Unlike a corporation, there is no double taxation. When the owner dies, the business is dissolved. It cannot be handed down to heirs. Franchise – Not an alternative to a corporation or LLC. There is an owner of a trademark, or a license that is allowing the franchisee to use that trademark. 3 Types - Distributorship – There is a manufacturer that is using the franchise relationship to have the franchisee to distribute its goods. There allowing the franchisee to distribute their finished product. Example: Auto Dealership – The dealer sells nothing but that car, the franchisee is required to buy a certain amount of the product. - Chain Style – Restaurants such as McDonalds, Del Taco, Chilies, Denny’s, Gas Stations, UPS Store. Management and the operations are dictated by the corporation.
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This note was uploaded on 04/09/2012 for the course MGMT 330 taught by Professor Staceysassman during the Winter '12 term at CSU San Bernardino.

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Class Notes 2-27 - Class Notes Sole Proprietorship One...

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