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POB 2.01

Types of Ownerships

QuestionAnswer
Sole proprietorship Owned and controlled by 1 All Profits goes to owner managed by owner
Advantages of S.P. easy to start complete control Owner recieves all profits limited taxe
Disadvantages of S.P. limited capital Unlimited liability Biz is limited to life time of owner.
Partnership owned and controlled by 2 or mote people but written agreement
Advantages of partnerships more capital and credit available combininfg resources shared management & decisions shared risk
Disadvantages of partnerships Profits shared Potential for disagreement Unlimited Liability (depending on type)
LLP partners cannot loose more than initial investment
Dormant Partner no role not known to public
Sole proprietorship Owned and controlled by 1 All Profits goes to owner managed by owner
Limited Participant investors who have limited liability
Advantages of S.P. easy to start complete control Owner recieves all profits limited taxe
Disadvantages of S.P. limited capital Unlimited liability Biz is limited to life time of owner.
Silent Partner no active role know to public
Partnership owned and controlled by 2 or mote people but written agreement
Corporation purchase of stock
Advantages of partnerships more capital and credit available combininfg resources shared management & decisions shared risk
Disadvantages of partnerships Profits shared Potential for disagreement Unlimited Liability (depending on type)
Disadvantages of corporation double tax gov regulation decision making decision making divided
LLP partners cannot loose more than initial investment
Domestic corp. charted in a state
Dormant Partner no role not known to public
foreign corp. charted in 1 sate & doing biz in another
General Partner Plays active role has unlimited liabilities
Alien corp. in another nation
Limited Participant investors who have limited liability
Secret partner play an active roll but secret from society
Silent Partner no active role know to public
cooperation owned by members serves needs and managed in interest purchase goods & services cheaper as a group that an individual greater bargaining power
Franchise permission to operate biz functions
Corporation purchase of stock
advantages of corporation more capital limited liability for shareholders life of corporation is unlimited
Disadvantages of corporation double tax gov regulation decision making decision making divided
Domestic corp. charted in a state
foreign corp. charted in 1 sate & doing biz in another
Alien corp. in another nation
Public corp. purposes of gov.
private corp. ?
cooperation owned by members serves needs and managed in interest purchase goods & services cheaper as a group that an individual greater bargaining power
Franchise permission to operate biz functions
Biz format franchise Sell products in a specific way
Product trade name able to sell products in a specific way
Created by: 100000094462559
 

 



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