Madeline Hull by Madeline Hull https://padlet.com/04mhullj/s7c08ga4tlp7r0te Business Ownerships en-us 2021-11-03 17:54:19 UTC 2021-11-04 17:36:06 UTC hello@padlet.com Sole Proprietorship 04mhullj https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865480766 A business with one owner, and is represented by the owner. This type of business is typically more affordable and is easy to form and operate. 

Postive:
1.  If the business is successful, the owners income will go up. 
2. The owner will get a heavy deduction on tax returns. 

Negative
1.  If the business is sued, the owner is sued. 
2. Owner is responsible for tax dues. 

Examples:
1. Roebuck
2. A&W]]> 2021-11-03 17:58:34 UTC https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865480766 Partnership 04mhullj https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865481325 The business has two or more owners. Ownership arrangements are determined and written on a legal document called a partnership agreement. 

Postive:
1.  Partnership can hold property and incur debt in its name. 
2. Job activities and responsibility distributed.

Negative
1. A partner can be held liable for the acts of other partners.
2. It is not a separate legal entity from its owners. 

Examples:
1. GoPro
2. Louis Vuitton]]> 2021-11-03 17:58:48 UTC https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865481325 Corporation 04mhullj https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865481838 A business that is separate from its owners. Corporations can enter contracts, loans, sue, hire employees, pay taxes, and borrow money. It acts under the companies name.

Postive:
1. Business security. 
2. Easier access to capital. 

Negative:
1. Subject to double taxation.
2. Have to pay employment taxes as an employee of the company. 

Examples:
1. Apple Inc.
2. Walmart Inc. ]]> 2021-11-03 17:59:00 UTC https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865481838 Limited Liability Company (LLC) 04mhullj https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865482867 Combines favorable aspects of the corporation and partnership. 

Postive:
1. No restrictions on the number of members allowed. 
2. Owners are not personally responsible for business debts and liabilities. 

Negative:
1. Typically costs more. Taxes are high, and can end up being payed by owners. 
2. Harder to transfer ownership. 

Examples:
1. Nike
2. eBay


]]> 2021-11-03 17:59:24 UTC https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865482867 Franchise 04mhullj https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865485892 A business that gives the right to another person to sell goods or service using their name.

Positive:
1.  Lower failure rate and lower risk.
2. Business assistance.

Negative:
1. Restrictive franchise agreements.
2. Lack of Independence and decisions.

Example:
1. McDonalds
2. Krispy Kreme]]> 2021-11-03 18:00:35 UTC https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865485892 04mhullj https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865488423 2021-11-03 18:01:37 UTC https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865488423 04mhullj https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865512312 2021-11-03 18:10:41 UTC https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865512312 04mhullj https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865513034 2021-11-03 18:10:59 UTC https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865513034 04mhullj https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865514046 2021-11-03 18:11:27 UTC https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865514046 04mhullj https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865515013 2021-11-03 18:11:54 UTC https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865515013 04mhullj https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865516020 2021-11-03 18:12:22 UTC https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1865516020 04mhullj https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1868080871 2021-11-04 17:35:31 UTC https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1868080871 04mhullj https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1868081577 2021-11-04 17:35:49 UTC https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1868081577 04mhullj https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1868082372 2021-11-04 17:36:06 UTC https://padlet.com/04mhullj/s7c08ga4tlp7r0te/wish/1868082372