https://padlet.com/03jrogers/ik294g4wvk2e created by jianna rogers en-us 2018-10-01 12:58:20 UTC 2025-05-10 13:12:31 UTC hello@padlet.com 03jrogers https://padlet.com/03jrogers/ik294g4wvk2e/wish/287571228 Created by Jianna Rogers

]]> 2018-10-01 13:00:53 UTC https://padlet.com/03jrogers/ik294g4wvk2e/wish/287571228 03jrogers https://padlet.com/03jrogers/ik294g4wvk2e/wish/287572377 Simplest ownership of a business where an individual owns the business and is responsible for all cash business including debts.

Pros-

• have functional tax  advantages
• the owner controls 100% of the business so they are in control of the profits 

cons-

• the have a high exposure to liability meaning they are personally liable for debts and obligations of the business
• if an owner decides it wants another owner they mus dissolve this entity and create a new business entity

]]> 2018-10-01 13:02:53 UTC https://padlet.com/03jrogers/ik294g4wvk2e/wish/287572377 03jrogers https://padlet.com/03jrogers/ik294g4wvk2e/wish/287572459 a legal business owned by 2 or more individuals who share management positions and profits.

pros:
this types of business are easy to establish
improving management and wide pool of knowledge and skills between the partners

Cons:

• heavily liable to contracts, torts, and breaches of trust between partners
• each partner individually is liable for debts and obligations 

]]> 2018-10-01 13:03:04 UTC https://padlet.com/03jrogers/ik294g4wvk2e/wish/287572459 03jrogers https://padlet.com/03jrogers/ik294g4wvk2e/wish/287572547 A legal business entity that is separate from its owners

Pros:

• Corporations can deduct the cost benefits it provides to its employees
• shareholders are not liable for debts handed down against the corporation

Cons:

• government  agencies monitor corporations
• may be subject to higher taxes since because of the government

]]> 2018-10-01 13:03:14 UTC https://padlet.com/03jrogers/ik294g4wvk2e/wish/287572547 03jrogers https://padlet.com/03jrogers/ik294g4wvk2e/wish/287572701 a legal business entity to support and provide business owners with lo liability

pros

•  Flexible when it comes to taxes
• Less paper work

cons

• Subject to self employment taxes 
• LLC's typically don't assign roles like managers and employees, this may cause confusion on who is in charge and who can sign contacts. 

]]> 2018-10-01 13:03:28 UTC https://padlet.com/03jrogers/ik294g4wvk2e/wish/287572701 03jrogers https://padlet.com/03jrogers/ik294g4wvk2e/wish/287577071

this is my dads company

another example would be Chrysler LLC]]> 2018-10-01 13:10:26 UTC https://padlet.com/03jrogers/ik294g4wvk2e/wish/287577071 03jrogers https://padlet.com/03jrogers/ik294g4wvk2e/wish/287591175 2018-10-01 13:31:45 UTC https://padlet.com/03jrogers/ik294g4wvk2e/wish/287591175 03jrogers https://padlet.com/03jrogers/ik294g4wvk2e/wish/287591785

McKinsey & Company

allens

]]> 2018-10-01 13:32:33 UTC https://padlet.com/03jrogers/ik294g4wvk2e/wish/287591785 03jrogers https://padlet.com/03jrogers/ik294g4wvk2e/wish/287598287

eBay originally launched as auction web is an example of a business that stared out as a sole proprietorship but eventually grew

another example is kinkos which also eventually grew and expanded to other owners and partners. 

]]> 2018-10-01 13:41:17 UTC https://padlet.com/03jrogers/ik294g4wvk2e/wish/287598287 03jrogers https://padlet.com/03jrogers/ik294g4wvk2e/wish/287615491 2018-10-01 14:05:49 UTC https://padlet.com/03jrogers/ik294g4wvk2e/wish/287615491 03jrogers https://padlet.com/03jrogers/ik294g4wvk2e/wish/287616180 example of partnership]]> 2018-10-01 14:06:47 UTC https://padlet.com/03jrogers/ik294g4wvk2e/wish/287616180 03jrogers https://padlet.com/03jrogers/ik294g4wvk2e/wish/287617487 2018-10-01 14:08:37 UTC https://padlet.com/03jrogers/ik294g4wvk2e/wish/287617487 03jrogers https://padlet.com/03jrogers/ik294g4wvk2e/wish/287617525 2018-10-01 14:08:40 UTC https://padlet.com/03jrogers/ik294g4wvk2e/wish/287617525