Business Organizations by Laylei Saint-Vil https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g Laylei Saint-Vil en-us 2022-03-14 17:12:09 UTC 2026-01-18 14:49:59 UTC hello@padlet.com Characteristics lsaintvi1257 https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g/wish/2094319693 - The most common form of business organization.
- Owned by one person.]]> 2022-03-14 17:15:25 UTC https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g/wish/2094319693 Advantages lsaintvi1257 https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g/wish/2094320180 * The owner keeps all profits and does not have to share
* Easy to start
* The owner makes all decisions on her own]]> 2022-03-14 17:15:41 UTC https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g/wish/2094320180 Disadvantages lsaintvi1257 https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g/wish/2094320793 # Unlimited liability
# Limited life (death of an owner ends the business)
# Difficult to attract qualified employees
# Limited access to funding
]]> 2022-03-14 17:15:57 UTC https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g/wish/2094320793 Characteristics lsaintvi1257 https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g/wish/2094329051 - The least common form of business organization
- Owned by two or more people

]]> 2022-03-14 17:20:20 UTC https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g/wish/2094329051 Characteristics lsaintvi1257 https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g/wish/2094329142 - Owned by shareholders
- Earns the greatest percentage of business profits in the U.S.]]> 2022-03-14 17:20:23 UTC https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g/wish/2094329142 Advantages lsaintvi1257 https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g/wish/2094329424 * Can benefit from specialization based on owners’ areas of expertise
* Easy to start
* More access to start-up money than sole proprietorships]]> 2022-03-14 17:20:32 UTC https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g/wish/2094329424 Advantages lsaintvi1257 https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g/wish/2094329537 * Easy to transfer ownership
* Limited liability
* Access to large amounts of financial capital (money) for expanding
* Unlimited life (business continues to exist even when ownership changes)]]> 2022-03-14 17:20:35 UTC https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g/wish/2094329537 Disadvantages lsaintvi1257 https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g/wish/2094329766 # Unlimited liability
# Limited life (death of an owner ends the business)
# Profits have to be shared between co-owners
# Potential for conflict]]> 2022-03-14 17:20:44 UTC https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g/wish/2094329766 Disadvantages lsaintvi1257 https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g/wish/2094329867 # Owners have little control over the day-to-day operations of the business
# Greater government oversight/regulation
# Double taxation (taxed on profits and dividends)]]> 2022-03-14 17:20:46 UTC https://padlet.com/lsaintvi1257/d7w049zzgcpymz1g/wish/2094329867