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Forms of Business Ownership Chapter 5 Chapter 5: Forms of Ownership
Choosing a Form of Ownership ,[object Object],[object Object],[object Object]
Factors Affecting the Choice ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Major Forms of Ownership ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Source: BizStats.com/businesses.htm
Source: BizStats.com/businesses.htm
Advantages of the Sole Proprietorship ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Disadvantages of the Sole Proprietorship ,[object Object],[object Object],[object Object],[object Object],[object Object]
Liability Features of the Basic Forms of Ownership Sole Proprietorship Claims of Sole Proprietor’s Creditors Sole Proprietor’s Personal Assets
Partnership ,[object Object],[object Object],[object Object]
Advantages of the Partnership ,[object Object],[object Object],[object Object],[object Object],[object Object]
Types of Partners ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Advantages of the Partnership ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Disadvantages of the Partnership ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Liability Features of the Basic Forms of Ownership Partnership Claims of Partnership’s Creditors Partnership’s Assets General Partner’s Personal Assets General Partner’s Personal Assets
Limited Partnership ,[object Object],[object Object],[object Object]
Corporation ,[object Object],[object Object],[object Object],[object Object],[object Object]
Corporation ,[object Object],[object Object],[object Object]
Advantages of the Corporation ,[object Object],[object Object],[object Object],[object Object]
Liability Features of the Basic Forms of Ownership Corporation Claims of Corporation’s Creditors Corporation’s Assets Shareholder’s Personal Assets Shareholder’s Personal Assets Barrier Barrier
Disadvantages of the Corporation ,[object Object],[object Object],[object Object],[object Object],[object Object]
S Corporation ,[object Object],[object Object],[object Object]
Liability Features of the Basic Forms of Ownership S-Corporation Claims of S-Corporation’s Creditors S-Corporation’s Assets Shareholder’s Personal Assets Shareholder’s Personal Assets Barrier Barrier
Limited Liability Company (LLC) ,[object Object],[object Object],[object Object],[object Object]
Limited Liability Company (LLC) ,[object Object],[object Object],[object Object],[object Object],[object Object]
Liability Features of the Basic Forms of Ownership Limited Liability Company (LLC) Claims of LLC’s Creditors  LLC’s Assets  Member’s Personal Assets Member’s Personal Assets Barrier Barrier

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Choosing Business Ownership Forms

  • 1. Forms of Business Ownership Chapter 5 Chapter 5: Forms of Ownership
  • 2.
  • 3.
  • 4.
  • 7.
  • 8.
  • 9. Liability Features of the Basic Forms of Ownership Sole Proprietorship Claims of Sole Proprietor’s Creditors Sole Proprietor’s Personal Assets
  • 10.
  • 11.
  • 12.
  • 13.
  • 14.
  • 15. Liability Features of the Basic Forms of Ownership Partnership Claims of Partnership’s Creditors Partnership’s Assets General Partner’s Personal Assets General Partner’s Personal Assets
  • 16.
  • 17.
  • 18.
  • 19.
  • 20. Liability Features of the Basic Forms of Ownership Corporation Claims of Corporation’s Creditors Corporation’s Assets Shareholder’s Personal Assets Shareholder’s Personal Assets Barrier Barrier
  • 21.
  • 22.
  • 23. Liability Features of the Basic Forms of Ownership S-Corporation Claims of S-Corporation’s Creditors S-Corporation’s Assets Shareholder’s Personal Assets Shareholder’s Personal Assets Barrier Barrier
  • 24.
  • 25.
  • 26. Liability Features of the Basic Forms of Ownership Limited Liability Company (LLC) Claims of LLC’s Creditors LLC’s Assets Member’s Personal Assets Member’s Personal Assets Barrier Barrier

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