Sole Proprietorship‚ Partnership‚ or A Corporation: Choosing The Best Option Christie Bekaert AIU Online Abstract A business has many advantages and disadvantages. To choose the right one‚ all of these aspects must be explored beforehand. These aspects must be explored for the business to be successful also. Taking your time to do this will ensure that you are not only making the best decision possible‚ but that you are making an informed one. Compare and contrast all the aspects of each type
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notion "Having a liability to answer‚" • Responsibility types: there are two different types of responsibility: one of then is a the responsibly of required or expect to do something. The second type of responsibility is when you should do something because it is morally right. 2 Connections: Think of two connections that you made to the reading and write three to five sentences about each. • This article reminds me‚ the topics that we already discussed in class‚ if a company can be treated as
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1Different types of business ownerships PRIVATE LIMITED COMPANY (ltd) A Company owned by shareholders. A limited number of shares are issued‚ these are owned by family and friends of the business. The business has limited liability PUBLIC LIMITED COMPANY (plc) A Company owned by shareholders. It must have £50‚000 of capital when founded‚ and may allow its share to be bought by the general public (though it does not have to). The business has limited liability UNLIMITED LIABILTY A legal obligation on
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adventurous individuals. Casey Fenton was responsible for developing the original idea and website for the business based on his experiences traveling through Iceland. Both Hoffer and Le Tuan had spent numerous years accumulating experience at software companies and also shared in the unique global perspective of the group. Additionally‚ both Fenton and Hoffer had prior involvements with technology startups and brought a degree of entrepreneurial experience to their team. Although the members of the group
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economy. The Garment industry also became the major foreign currency-earning sector with highest rates of absorption of industrial employment. Bextex Ltd.was incorporated in Bangladesh as a Public Limited Company with limited liability on 8 March 1994 and commenced commercial operation in 1995. This company applying porter Diamond theory to established their business. This analysis is the most important factor of porter diamond. These are Factor conditions‚ Demand conditions‚ Related and supporting
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Crowning Glory LLC‚ is a limited liability company. According to Business Dictionary‚ A limited liability company (LLC) is a corporate structure whereby the members of the company cannot be held personally liable for the company’s debts or liabilities. Limited Liability companies are essentially hybrid entities that combine the characteristics of a corporation and a partnership or sole proprietorship (Business Dictionary‚ n.d.). Crowning Glory LLC was founded in September 2016. Crowning Glory LLC
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Public Limited Company Charity The differences are that Tesco is a PLC and Oxfam is a charity. Purpose Tesco purpose is that it is to make a profit and provide an excellent service to their customers. ...read more. Middle Type of liability Limited liability for all shareholders They form the Council of Trustees‚ which is the governing body of the Association of Oxfam (a not-for-profit limited-liability company). The similarities of both organisations are that they are limited liability company
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Introduction to Business (Question for 1st semester midterm exam.) # What is business? Ans : An organization or economic system where goods and services are exchanged for one another or for money. Every business requires some form of investment and enough customers to whom its output can be sold on a consistent basis in order to make a profit. Businesses can be privately owned‚ not-for-profit or state-owned. An example of a corporate business is Grameen Phone‚ while an Azad Products is a private
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DESCRIPTION‚ THE LIABILITY OF THAT BUSINESS. BUSINESS 1: RIVER ISLAND BUSINESS 2: OXFAM RIVER ISLAND: PROFIT ORGANISATION ‘With over 60 years of fashion retailing experience‚ River Island is one of the most successful companies on the High Street. River Island has nearly 300 stores across the UK‚ Ireland and internationally throughout Asia‚ the Middle East and Europe.’ – RIVER ISLAND WEBSITE River Island is an unquoted company. ‘An unquoted company is a business company owned either by
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Salomon was the first principle case of its kind and its principle was that a limited company is a separate legal entity‚ in catherine lee v lee this case was reaffirmed‚ and Gilford Motors v Horne was the first law case to ‘pierce the corporate veil’. WHAT IS THE PRINCIPLE OF separate CORPORATE PERSONALITY? There are 3 types of ownership generally speaking in the law context. There are sole traders‚ partnerships and companies. Sole traders are the sole owners to a business entity in which there is
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