Business Ownership padlet by Pranav Rishi https://padlet.com/05prishi/n4t74hbqd98h5469 By:Pranav Rishi en-us 2021-05-17 13:20:06 UTC 2021-05-18 02:47:28 UTC hello@padlet.com Sole proprietorship 05prishi https://padlet.com/05prishi/n4t74hbqd98h5469/wish/1531139120 A sole proprietorship is an unincorporated business with only one owner who manages profits and risks.

Positives:
-easy to setup and low cost
-not restricted by business structure

Negatives:
-Unlimited Liability
-Difficult to raise money

Example:
IT consultant or an artist
 ]]> 2021-05-17 13:22:27 UTC https://padlet.com/05prishi/n4t74hbqd98h5469/wish/1531139120 Partnership 05prishi https://padlet.com/05prishi/n4t74hbqd98h5469/wish/1533841341 It is when 2 or more people or parties manage and operate a business and share profits.

Positives
-fewer obligations
-easy to get started

Negatives:
-You have to share profits 
-lack of stability

Examples
Uber and spotify ]]> 2021-05-18 02:18:55 UTC https://padlet.com/05prishi/n4t74hbqd98h5469/wish/1533841341 Corporation 05prishi https://padlet.com/05prishi/n4t74hbqd98h5469/wish/1533853701 A business that is owned by shareholders who elect board directors who are in charge of the organizations activities.

Positives:
-personal liability protection
-business security

Negatives:
-Time consuming
-double taxation
Examples:
Coca-cola
Microsoft   ]]> 2021-05-18 02:23:51 UTC https://padlet.com/05prishi/n4t74hbqd98h5469/wish/1533853701 Limited Liability company 05prishi https://padlet.com/05prishi/n4t74hbqd98h5469/wish/1533874846 A business structure where the owners are not liable for companies debts and liabilities.

Positives:
-No restrictions on number of members allowed.
-Owners are not responsible for business debts and liabilities

Negatives:
-LLC is more expensive to operate

-A LLC may have to pay unemployment compensation for him or herself.


Examples:
-Sony
-Nike

]]> 2021-05-18 02:32:29 UTC https://padlet.com/05prishi/n4t74hbqd98h5469/wish/1533874846 Franchise 05prishi https://padlet.com/05prishi/n4t74hbqd98h5469/wish/1533886864 an authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities.

Positives:
-Marketing support
-business support
Negative:
Advertisement fees
Limited creativity 

Examples:
McDonalds 
Chick-fil-a

]]> 2021-05-18 02:37:30 UTC https://padlet.com/05prishi/n4t74hbqd98h5469/wish/1533886864