Business ownership 8.1

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  • 1. Business Ownership Chapter 8 Section 1
  • 2. Types of Ownership Do you or anyone you know own a company? What kind of company is it?
  • 3. Types of ownership Sole proprietorship Partnership Corporations Subchapter S corporations Limited Liability companies (LLC) Multinational corporations
  • 4. Sole Proprietorship A type of business ownership in which one person owns the business.  Examples:  Dairyhaus  ???
  • 5. Sole Proprietorship Advantages:  You are your own boss  Limited paperwork/regulations  You get profits Disadvantages:  Unlimited liability  Limited capital  Governments differ  Global competition
  • 6. Partnership A type of business in which two or more people own the business.  Examples:  Law firms  Doctors offices  ???
  • 7. Partnership Advantages:  Partners bring different skills  More capital Disadvantages:  Breaking up is hard to do  Partners are fully liable  Partnerships overseas are difficult
  • 8. Corporations A type of business ownership in which many people, whom the law treats as one person, own the business.
  • 9. Corporations Closely held: private corporation in which shares are owned by a small group.  Example: banks Publicly held: corporation in which shares are sold openly in stock markets.  Microsoft
  • 10. Corporations Characteristics:  Board of directors/officers  Stockholders elect board  Stockholders make money  Dividends: a % of the profit  Increase stock value
  • 11. Corporations Advantages:  Limited liability  Business continues to exist no matter who owns stock Disadvantages:  Costly to start up  Paperwork  Takeover possibilities  Double taxation
  • 12. Subchapter S corporations A corporation that is taxed like a partnership The business owners pay taxes from personal earnings.  Examples:  restaurants
  • 13. Limited Liability Company A company whose managers and owners enjoy limited liability and some tax benefits
  • 14. Multinational Corporations An organization that operates in more than one country. MNC’s aka: global, transnational or worldwide companies or corporations  Examples:  McDonalds  Burger King
  • 15. MNC’s The original place of business for a company is the home country When the company builds operations in another country it becomes an MNC The foreign country is the host country Larger role in the world economy than simply an exporter
  • 16. MNC’s continued Successful MNC’s  Create universal products  Design HR policies to include global workers  Good guests in all countries  Economic and political power
  • 17. Citations Donald Baack, Ph.D., International Business. The McGraw- Hill Companies, Woodland Hills, California, 2008 Lindenmuth, Janet. Law Library Books. Digital image. Flickr. Yahoo, 12 Jan. 2012. Web. 25 June 2012. <http://www.flickr.com/photos/j3net/6685194971/>. 401K 2012. Tax. Digital image. Flickr. Yahoo, 9 Nov. 2010. Web. 25 June 2012. <http://www.flickr.com/photos/68751915@N05/6355404323/>. Microsoft Office Clip Art