Entrepreneurial Concepts

Blend of other businesses

boards hire directors to manage the business 

A business that operates apart from the owners

Business that owns assets and can borrow money w/o shareholders

Each partner shares loss or gains for the company

Most common business ownership

death of one owner dissolves this type of business

Each owner has limited liability

General and Limited...

raising money for expansion is easy

Each person is liable for up to a limit based on their involvment

Risk takers in the business world

Each owner has a voice

financial responsibility extends to your total ability to make payments

government regulations, most complicated

Divided into shares of stock

What are you getting Ameil for a graduation present?

People who own a small part of a company

Growth limited by motivation 

raising outside capital is hard

The process of starting your own own business

owner personally liable for debts

Legal agreement between 2+ people for a business

Info that addresses your corporation, its mission statement, etc. 

Complicated business ownership

Actions are legally binding with other owners

Taxed less

Greatest freedom in making choices

Easiest to establish

A legal agreement to operate under another company

A business own by one person

A filing statement for sole proprietorship or partnership

Partnership+Corporation=?

Corporation that follows the laws of another state