https://padlet.com/01rviray/4hndx86n51om By Mariel Viray en-us 2018-10-01 16:59:17 UTC 2018-10-01 17:59:29 UTC hello@padlet.com 01rviray https://padlet.com/01rviray/4hndx86n51om/wish/287741910 Definition: One person is operating a business
PROS:
1. You get to make all the decisions
2. Decisions are made quicker
CONS:
1. You are solely responsible for all the actions of the company
2. You have to manage the entire company by yourself
Ex.: Guapos, Mariachi ]]> 2018-10-01 17:01:52 UTC https://padlet.com/01rviray/4hndx86n51om/wish/287741910 01rviray https://padlet.com/01rviray/4hndx86n51om/wish/287741953 Definition: Two or more people who share management and profit of a business
PROS:
1. Share the tasks of managing the business
2. The financial burden on you is reduced because it is shared
CONS:
1. Potential conflict between the parties
2. Divided profits
Ex.: Ben & Jerry's, Warner Bros.]]> 2018-10-01 17:01:57 UTC https://padlet.com/01rviray/4hndx86n51om/wish/287741953 01rviray https://padlet.com/01rviray/4hndx86n51om/wish/287741988 Definition: A company where a group acts together as one to manage a business
PROS:
1. Able to issue stocks that can attract investors
2. Management is established through hierarchical-like roles that have their own responsibilities (directors, officers, etc.)
CONS:
1. There's no protection against self-incrimination
2. There is a high tax liability (double taxation between the corporation earnings and the shareholder's earnings)
Ex.: McDonald's, Google]]> 2018-10-01 17:02:02 UTC https://padlet.com/01rviray/4hndx86n51om/wish/287741988 01rviray https://padlet.com/01rviray/4hndx86n51om/wish/287742155 Definition: A company is operated separately from its members, so that the members are not affects personally by the debt or liabilities of the company
PROS:
1. Members aren't liable for the business' actions, so personal assets are protected
2. Generally, the profits are not taxed by the government and go directly to its members
CONS:
1. Less structure as there's not many strict requirements
2. Generally, less investment towards LLCs because they aren't as structured
Ex.: Toys R Us, Chrysler]]> 2018-10-01 17:02:19 UTC https://padlet.com/01rviray/4hndx86n51om/wish/287742155 01rviray https://padlet.com/01rviray/4hndx86n51om/wish/287769289 Partnership]]> 2018-10-01 17:41:21 UTC https://padlet.com/01rviray/4hndx86n51om/wish/287769289 01rviray https://padlet.com/01rviray/4hndx86n51om/wish/287769789 Partnership]]> 2018-10-01 17:42:05 UTC https://padlet.com/01rviray/4hndx86n51om/wish/287769789 01rviray https://padlet.com/01rviray/4hndx86n51om/wish/287772983 Corporation]]> 2018-10-01 17:46:42 UTC https://padlet.com/01rviray/4hndx86n51om/wish/287772983 01rviray https://padlet.com/01rviray/4hndx86n51om/wish/287773174 Corporation]]> 2018-10-01 17:46:59 UTC https://padlet.com/01rviray/4hndx86n51om/wish/287773174 01rviray https://padlet.com/01rviray/4hndx86n51om/wish/287778965 2018-10-01 17:55:18 UTC https://padlet.com/01rviray/4hndx86n51om/wish/287778965 01rviray https://padlet.com/01rviray/4hndx86n51om/wish/287779412 2018-10-01 17:55:54 UTC https://padlet.com/01rviray/4hndx86n51om/wish/287779412 01rviray https://padlet.com/01rviray/4hndx86n51om/wish/287780148 2018-10-01 17:57:06 UTC https://padlet.com/01rviray/4hndx86n51om/wish/287780148 01rviray https://padlet.com/01rviray/4hndx86n51om/wish/287780508 2018-10-01 17:57:41 UTC https://padlet.com/01rviray/4hndx86n51om/wish/287780508