Types of Business OrganizationsAuthor: Swift Michelle
Description:
Keywords: , , , , , , online teaching
Content:
Groups:
1. Proprietorships
2. Partnerships
3. Corporations
4. Franchise
Objects:
0. All profits go to the owner
1. All business decisions are the owner’s
2. Long working hours
3. Difficult to obtain financial capital
4. Greater Freedom
5. Very little government control
6. Life span limited to owner
7. Unlimited liability to the owner
8. Easy to form
9. Life span limited to owners
10. Divided liability
11. Easier to obtain financial capital
12. Opportunity to gain complementary skills
13. Divided authority
14. Divided profits
15. Potential disagreements among partners
16. Limited liability
17. Easier to raise financial capital
18. Perpetual existence
19. Freely transferable shares of stock
20. Greater government regulation
21. Expensive to organize
22. Double taxation
23. Not easily dissolved
24. Proven idea %26 brand name
25. Support from franchisor
26. Exclusive rights
27. Established relationships with suppliers
28. Loss of individuality
29. Financing may be easier than starting from scratch
30. Restrictions from franchisor
31. Stiff penalties from franchisor
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