Partnerships vs. Corporations Tracy Kamke Professor Edward Hastings ACC317 March 9, 2014 A partnership is an association owned by two or more people to carry a business or trade with each parnter contributing money, property, labor, or skill and all partners expecting to share the profits and losses. A corporation is a separate entity that has its own rights, privileges, and liabilities separate from its members. Whether you choose to be a partnership or corporation
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Partnership or Corporation 1. What are some of the advantages and disadvantages of Thomas and Bryan forming a corporation? First of all, a corporation is a legal entity, created by the state, whos assets and liabilities are separate from its owners. It has some rights, duties, and powers of a person, as well as the rights to receive, own or transfer property. It is also important to mention that corporations are typically owned by many individuals and organizations who shares of the business
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The roots of domestic partnership go back to 1981, when San Francisco considered legislation to provide benefits to unmarried couples. “Domestic partners” soon became a legal term used by private and public employees to extend benefits to an employee’s unmarried partner of the same sex. In 1982 The Village Voice in New York City became the first private employer to offer domestic partnership benefits. In 1995, Vermont became the first state to offer domestic partnership benefits to its public
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Bobby Flashman Flashman 1 January 22, 2012 CEP # 1 Gay Marriage in Washington The controversy of gay marriage has always been an issue, whether mentioned in the confines of a home, a school or even, as stated by David Masci, the hallways of the U.S. congress, white house and courtrooms. As times change and generations pass, gay and lesbian relationships are becoming more acceptable, but that does not mean the problem is completely solved. Gay marriage has been legalized in six states
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business, creditors can go after your personal assets and in a worse case scenario after your spouse. 3. What is an LLC? How does an LLC or corporation differ from a sole proprietorship or partnership if the firm goes bankrupt? A Limited Liability Company (LLC) or Limited Partnership is a one or more main partner who will run the business and make unlimited liability, but there are one or more limited partners (investors) who do not actively participate in the business whose liability
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and Private Partnerships Executive Summary: Public and Private Partnerships (PPP's) describes the partnership between the Public Sector (Government) and the Private Sector (Business) working together through financing, design, constructions, renovation, management or maintenance of infrastructures to provide public services for citizens. National, state, and local governments worldwide all face tremendous budget gaps and therefore are increasingly adopting Public-Private Partnerships (PPPs) models
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boutique or a large corporate business like a popular bank. Having a business structure to your business is what helps determine what type of ownership takes place. There are three main business structures, they are known as; sole proprietorship, partnership, and corporations. These three business structures are important to know when opening a business. This paper will describe the business structures and discussed the advantages and disadvantages that take place in each one. The first business
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Tutorial 3 1. Happening Place Pte Ltd is regulated by Table A of the Fourth Schedule of the Companies Act. Tuf Tan holds 45% of the shares in Happening Place Pte Ltd. Advise Tuf Tan and the directors as to the following: a. The directors appoint Payne Soh as the company’s public relations officer (ie an employee). Payne Soh has a personal conflict with Tuf Tan on one occasion. As a result, at a requisitioned meeting of the members Tuf Tan manages to get a resolution directing the
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The Value and Cost of Adding Domestic Partner Benefits COMM/215 February 3, 2011 Dr. Blue Without a doubt, in a little more than a decade, domestic partner benefits have gone from virtually nonexistent to the predominant plan among the largest U.S. employers. More than 51 percent of Fortune 500 companies offer Domestic Partner Benefits; these employers have found an added greater value for them at minimal cost.Studies reveal employers who offer Domestic Partner Benefits are able to attract
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The Value and Cost of Adding Domestic Partner Benefits COMM/215 February 3, 2011 Without a doubt, in a little more than a decade, domestic partner benefits have gone from virtually nonexistent to the predominant plan among the largest U.S. employers. More than 51 percent of Fortune 500 companies offer Domestic Partner Benefits; these employers have found an added greater value for them at minimal cost.Studies reveal employers who offer Domestic Partner Benefits are able to attract talented
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