Business Ownership by Garhett Dickenson https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o Made with the best of intentions en-us 2021-01-05 18:33:13 UTC 2024-06-05 11:02:25 UTC hello@padlet.com https://padlet.net/icons/png/1f601.png Partnership 05gdickenson https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o/wish/1056903850 Definition - Two businesses working together to benefit and progress.
Positives - Easy to start. Having to do less.
Negatives - Less privacy. Less ownership.]]> 2021-01-05 18:36:03 UTC https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o/wish/1056903850 Corporation 05gdickenson https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o/wish/1056905807 Definition - A legal entity that is authorized by the state.
Positives - Hire employees. Loan and borrow money. 
Negatives - Double taxation. Weird rules to follow.]]> 2021-01-05 18:36:25 UTC https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o/wish/1056905807 Limited Liability Company 05gdickenson https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o/wish/1056907421 Definition - A combination of a sole proprietorship and partnership company. The owner isn't personally liable for the company.
Positives - No business liability. Good taxing structure.
Negatives - More tax forms. Annual fees.]]> 2021-01-05 18:36:45 UTC https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o/wish/1056907421 Sole Proprietorship 05gdickenson https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o/wish/1056935994 Definition - When a business is run by only one person
Positives - Lots of profit. What you say goes.
Negatives - Lots of bills and debt. No help.]]> 2021-01-05 18:42:19 UTC https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o/wish/1056935994 05gdickenson https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o/wish/1056942902 2021-01-05 18:43:41 UTC https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o/wish/1056942902 Franchise 05gdickenson https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o/wish/1056944946 Definition - A business that has spread around countries or the world. 
Positives - Expansion can be very fast. High royalties.
Negatives - Not much collective benefits. They are more difficult to manage]]> 2021-01-05 18:44:06 UTC https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o/wish/1056944946 05gdickenson https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o/wish/1056953996 2021-01-05 18:45:57 UTC https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o/wish/1056953996 05gdickenson https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o/wish/1057163748 2021-01-05 19:30:13 UTC https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o/wish/1057163748 05gdickenson https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o/wish/1057247181 2021-01-05 19:49:48 UTC https://padlet.com/05gdickenson/zk6w8qdq56n5iz8o/wish/1057247181