Sole proprietorships are the easiest form of business to create but the owner has unlimited liability. Partnerships can draw on multiple skills and resources but partners can be liable for each other's actions. Corporations provide limited liability, making it possible to raise more investment money. There are three types of corporations: C-corporations, S-corporations, and non-profits. C-corporations are taxed twice but have more flexibility. S-corporations avoid double taxation. Non-profits must operate exclusively for charitable purposes. Entrepreneurs should consider their skills, capital needs, and liability comfort when deciding on a business structure.
Entrepreneurs will face a huge number of decisions as they move from concept to commercialization. One of the
first major decisions is what type of legal entity to form in order to move their great ideas forward. Why does it
matter? Because different entities have very different rules regarding limited liability, management and control
flexibility, capital structure, tax efficiency and eligible investors.
Entrepreneurs will face a huge number of decisions as they move from concept to commercialization. One of the
first major decisions is what type of legal entity to form in order to move their great ideas forward. Why does it
matter? Because different entities have very different rules regarding limited liability, management and control
flexibility, capital structure, tax efficiency and eligible investors.
BUSINESS UNITS
Definition
Is an organization or firm that deals in the production or distribution of commodities usually for the purpose of making profit. It may be set up by an individual or group of individuals and its size depends on the amount of capital invested.
FORMS OF BUSINESS UNIT
(i) Public sector
(ii) Private sector
PUBLIC SECTOR
The public sectors comprise of business organization owned by the government. The sector consist of the following;
Public cooperation
Public companies
Local government authorities
Parastatals
PRIVATE SECTOR
The private sectors comprise of business organization owned by private individuals. The sector consist of the
BUSINESS UNITS
Definition
Is an organization or firm that deals in the production or distribution of commodities usually for the purpose of making profit. It may be set up by an individual or group of individuals and its size depends on the amount of capital invested.
FORMS OF BUSINESS UNIT
(i) Public sector
(ii) Private sector
PUBLIC SECTOR
The public sectors comprise of business organization owned by the government. The sector consist of the following;
Public cooperation
Public companies
Local government authorities
Parastatals
PRIVATE SECTOR
The private sectors comprise of business organization owned by private individuals. The sector consist of the
An approach to User Interface Design of an accessible user agent Grupo HULAT
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An approach to User Interface Design of an accessible user agent
Bis-perfluorocycloalkenyl (PFCA) aryl ether monomers towards a versatile clas...Babloo Sharma, Ph.D.
A unique class of perfluorocycloalkenyl (PFCA) aryl ether monomers was synthesized from commercially available perfluorocycloalkenes (PFCAs) and bisphenols in good yields. This facile one pot reaction of perfluorocycloalkenes, namely, octafluorocyclopentene (OFCP), and decafluorocyclohexene (DFCH), with bisphenols occurs at room temperature via an addition–elimination reaction in the presence of a base. The synthesis of PFCA monomers and their condensation with bisphenols lead to perfluorocycloalkenyl (PFCA) aryl ether homopolymers and copolymers with random and/or alternating polymer architectures.
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Detecting Semantic Relations between Nominals using Support Vector Machines and Linguistic-Based Rules
A variety of perfluorocycloalkenyl (PFCA) arylether monomers and polymers with enchained triarylamineunits were successfully synthesized, characterized andreported here. These polymers are highly thermally stableand show variable thermal properties. Successful conver-sion of the newly synthesized TAA enchained perfluoro-cyclopentenyl (PFCP) aryl ether polymers via formylationand EAS demonstrates the synthetic versatility of TAAmoiety and provides an excellent option for applicationspecific post polymerization reactions. The cross-linkingbehavior of PFCP aryl ether polymers was studied underdifferent reaction conditions. The combination of pro-cessability, thermal stabilities, and tailorability makes thesepolymers suitable for a wide variety of applicationsincluding electro-optics, proton exchange membranes andsuper-hydrophobic applications.
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Authors: César de Pablo Sánchez and Paloma Martínez
31st European Conference on Information Retrieval, Tolouse, France (April 6-9, 2009)
Building a Graph of Names and Contextual Patterns for Named Entity Classification
Discussion of Basic Forms of Business Organization. (Owbership)
Organization → represents a group of people who work together for the achievement of common objective
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Improving profitability for small businessBen Wann
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This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
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"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
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3. Entrepreneurs need to understand
the advantages and disadvantages
of various forms of business
ownership so they can choose the
most appropriate form for their
business.
4. SOLE PROPRIETORSHIP
The easiest and most popular
form of business ownership is
the sole proprietorship.
SOLE PROPRIETORSHIP
A business that is owned and
operated by one person
5. SOLE PROPRIETORSHIP
The owner of a sole proprietorship:
Receives the profits
Incurs any losses
Is liable for the debts of the
business
6. SOLE PROPRIETORSHIP
In a sole proprietorship the owner
must decide how much liability
protection he or she needs.
LIABILITY PROTECTION
Insurance against the debts and
actions of a business
7. SOLE PROPRIETORSHIP
Advantages
Sole proprietorship is easy and inexpensive to create.
The owner has complete authority over all business activities.
It is the least regulated form of business ownership.
The business pays no taxes; income is taxed at
personal rate of owner.
8. SOLE PROPRIETORSHIP
Disadvantages
The owner has unlimited liability.
Raising capital is more difficult.
The business is totally reliant on skills and abilities of owner.
The death of owner dissolves the business unless
there is a will to the contrary.
9. DISADVANTAGES
The biggest disadvantage of a sole
proprietorship is financial.
In this form of business ownership, the
owner has unlimited liability.
UNLIMITED LIABILITY
Full responsibility for all debts
and actions of a business
10. PARTNERSHIPS
A partnership draws on skills,
knowledge, and financial resources or
more than one person.
PARTNERSHIP
An unincorporated business with two or
more owners who share the decisions,
assets, liabilities, and profits
11. GENERAL VERSUS
LIMITED PARTNERS
The law requires that all partnerships
have at least one general partner.
GENERAL PARTNER
A participant in a partnership who
has unlimited personal liability and
takes full responsibility for
managing the business
A partnership may be set up so that all of
the partners are general partners.
12. GENERAL VERSUS
LIMITED PARTNERS
Some partnerships include a limited
partner.
LIMITED PARTNER
A partner in a business whose liability is limited
to his or her investment; a limited partner cannot
be actively involved in managing the business.
13. PARTNERSHIPS
Advantages
Partnerships are inexpensive to create.
General partners have complete control.
Partners can share ideas.
Partners can share ideas and secure investment capital more
easily and in greater amounts.
14. PARTNERSHIPS
Disadvantages
It is difficult to dissolve one partner’s interest without
dissolving the partnership.
There may be personality conflicts.
Partners can be held liable for each others’ actions.
15. Sole proprietorship is the easiest and most popular form of
business to create. The owner receives the profits, incurs any
losses, and is liable for the debts of the business.
A partnership is an unincorporated business with two or more
owners. The partners share the decisions, assets, liabilities,
and profits. The partnership can draw on the skills,
knowledge, and financial resources of more than one person,
which is an advantage when seeking loans.
16. In a corporation, the owners of the
business are protected from liability
for the actions of the company.
17. CORPORATION
There are three types of corporations:
CORPORATION
A business that is registered by a state
and operates apart from its owners; it
issues shares of stock and lives on
after the owners have sold their
interest or passed away.
C-corporation
Subchapter S corporation
nonprofit corporation
18. C-CORPORATION
A C-corporation is the most common
corporate form.
C-CORPORATION
an entity that pays taxes on earnings;
its shareholders pay taxes as well
21. ADVANTAGES
Corporate shareholders have limited
liability, but some banks require
officers to personally guarantee the
debts of the company.
LIMITED LIABILITY
Partial responsibility of a
corporate shareholder; he or she
is responsible only up to the
amount of the individual
investment.
23. SUBCHAPTER S
CORPORATION
An entrepreneur can avoid the double
taxation of a C-corporation by setting
up a Subchapter S corporation.
SUBCHAPTER S
CORPORATION
A corporation that is taxed like a
partnership; profits are taxed
only once at the shareholder’s
personal tax rate.
24. NONPROFIT CORPORATION
A nonprofit corporation must fall within
one of four categories:
NONPROFIT CORPORATION
A legal entity that makes money for reasons other
than the owner’s profit; it can make a profit, but
the profit must remain within the company
religion
charity
public benefit
mutual benefit
25. MAKING THE DECISION
Before deciding on a legal form, ask
yourself key questions about:
Your skills
Capital
Expenses
Willingness to assume liability
Level of control wanted
Length of time you expect to
own the business
26. A corporation offers limited liability. In other words,
shareholders are liable only up to the amount of their
individual investments.
ADVANTAGES:
A corporation has a more professional appearance, its shareholders are liable
only up to the amount of their individual investment, it can raise money by
issuing shares of stock, it has perpetual existence, it is structured to
accommodate employee benefits, and it has tax advantages.
DISADVANTAGES:
A corporation is expensive to set up and its income is more heavily taxed.
27. The Subchapter S corporation is taxed like a
partnership; profits are taxed only once at the
shareholder’s personal tax rate. Therefore, the
Subchapter S corporation is not a tax-paying entity.
Nonprofit corporations can make a profit, but the profit must
remain within the companies and not be distributed to
shareholders. Any type of business can be a corporation, but a
nonprofit must be formed for religious or for charitable
purposes, public benefit, or religious purposes. C-corporations
are created to make a profit for its owners, or shareholders.
28. The limited liability company protects owners with the limited
liability of a corporation. That is, the company’s owners are
not liable for its debts. It also provides pass-through tax
advantages; shareholders are taxed only once. There are no
limitations on the number of members or on their status.
You should consider your skills, capital, living expenses,
willingness to assume personal liability for any claims against
the business, control desired. Also, ask yourself: do you expect
to have initial losses, or will the business be profitable from the
beginning? Do you expect to sell the business some day?