operate the business. The operation of the business can be significantly affected if the owner becomes sick or dies. 4. Control owners have complete control of the business. The owner is totally responsible for all decisions pertaining for business operations. 5. Profit retention Owner have 100% profit retention. They may choose to invest it back into the company or use it for personal use. 6. Location The owner has the ability to choose the location of the business or move it
Words: 1229 - Pages: 5
Forms Of Business Susan Greene American Intercontinental University Busn 105 5/4/13 Legal Forms Of Business Susan Greene American Intercontinental University Abstract The main purpose of writing this document is to explain all of the legal forms of business and to also explain the three different organizations that there are in a company and all of the similarities and differences that are in each organization. Being an inventor the first order of business is that
Words: 579 - Pages: 3
Bus-101 Kevin Lentz 06/2013 Chapter 1 Rooftop Restaurant and Lounge will enter into a market with perfect competition. With perfect competition Rooftop Restaurant and Lounge will have an infinite number of consumers with the willingness and ability to buy our products at a certain price. It would also have an infinite amount of producers with the willingness and ability to supply the products at a certain price. Rooftop Restaurant and Lounge is a new fine dining restaurant and lounge
Words: 1631 - Pages: 7
Abstract A model employee's undiagnosed stress disorder erupts one morning when a stray dog enters her worksite through an open window, there ensues a two-week cycle of absences, doctors’ visits, recurring bouts of screaming at the workplace and an order that the employee be locked out of her office and fired. The employee sues under the FMLA, claiming that she was fired instead of being granted needed medical leave. The district court granted the employer summary judgment, finding, that Stevenson
Words: 1406 - Pages: 6
do not have the resources to meet the demands of their cliental. Therefore, they must look into restructuring their business in effort to remain afloat. As their business advisor, I would carefully explain the three different legal forms of business organization (sole proprietorship, partnership and corporation). I would begin by informing them of their current legal form of business which is sole proprietorship. Seeing the fact that they are currently operating under this entity, they should be
Words: 541 - Pages: 3
some of the forms of business existing in the United States and their characteristics: a. Sole proprietorship b. General partnership c. Limited partnership d. C-corporation e. S-corporation f. Limited Liability Company This report contains an overview of some of the forms of business organizations that exist in the United States. Because of the federal system of the U.S., the many forms of business organizations are subject to the laws and regulations of
Words: 3961 - Pages: 16
SUBDOMAIN 310.1 - BUSINESS LAW | Competency 310.1.2: Organizational Forms | | | | The following report will summarize the key differences between the various forms of legal business entities. The ownership forms covered will include sole proprietorship, general partnership, limited partnership, C-corporation, S-corporation, and Limited Liability Company. Also included will be a brief recommendation of the most appropriate form of ownership for the given manufacturing business. | Section
Words: 2050 - Pages: 9
Family Related Issues by Darryl Mitchell Professor Kenneth Pino Law, Ethics, and Corporate Governance – LEG 500 July 23, 2011 1. Explain if it matters that a parent literally had nothing to do with a biological child in order for the child to take advantage of the Family and Medical Leave Act (FMLA) to care for that parent. Whether a parent had nothing to do with a biological child have nothing to do with the child being eligible for FMLA to care for that parent and it shouldn’t
Words: 1128 - Pages: 5
Checkpoint: Business Organization Noel Lee-Lo Foundation of Business (BUS210) University of Phoenix, Axia College Prepared for: Edward Jeffreys May 26, 2011 The joint-stock company is a connotation of characters in business originality with convenient shares of stock, greatly like a firm excluding that stockholders are accountable for the obligations of the corporate. It is likewise a form of company or partnership among two companies. Credentials
Words: 594 - Pages: 3
ethical approach to these matters is how these issues are handled. If these matters are not handled with caution and within the legal limitations, law suits are filed and companies face serious legal challenges. The Equal Employment Opportunity Commission (EEOC) is the legal voice for those individuals whom believe they have been discriminated. Laws were designed to protect employees from discrimination and to protect the jobs of employees who need to take time off work to take care of ill family
Words: 1109 - Pages: 5
