University of Phoenix BUS/415 Steven Lee August 08, 2010 Restaurant/Bar Scenario Business Entity, Control, Taxation and Liability As per the scenario, Lou and Jose plan to open a sports bar and restaurant, the best business entity choice for this restaurant and sports bar is the partnership firm because Lou, Jose and Miriam are the three persons who want to start the business in return for a percentage of ownership. Lou and Jose will take care of business
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Proprietor | General Partnership | Limited Liability Company (LLC) | Corporation | Number of Owners | One | Two or more | One or more | Multiple | Formation Difficulty | Low | Low | Medium | Medium/High | Liability | Sole proprietor has unlimited liability. | Partners have unlimited liability. | Members aren’t typically liable for the debts of the LLC. | Officers/shareholders are not typically responsible for the debts of the corporation. | Operational Requirements | Relatively few legal requirements
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Forms of Business Erin Epps Law/531 August 1, 2011 Christine Benway Forms of Business There are a number of different types of businesses: sole proprietorship, partnership, limited liability partnership, limited liability company, S corporation, franchise, and corporate firm. Each form of business has benefits which it can provide to its owners. As a person in business it is extremely important to determine which form of business best suits the intended goals and needs. According to
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Deciding on a Business Provided by My Own Business, Content Partner for the SME Toolkit OBJECTIVE: The most common serious mistake made in business is not picking the right business to begin with. This session will provide you with important evaluation techniques to decide which business is right for you. * Characteristics of a Successful Entrepreneur * Step-by-Step Approach * Decide if you really want to be in business * Decide what business and where * Decide whether
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the structure of a sole proprietorship or partnership. However, there could be a group of people who share a business interest who can obtain major investors and retain very little if any liability – they would explore the options of creating a corporation. Business Structures One of the most basic and riskiest business structures is a sole proprietorship, which is where an individual owns a business alone and they are responsible for all liabilities and assets of the company. The advantage with
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Business Entity Matrix Paper Exploring one’s entrepreneurship and starting a new business can be quite exciting. The idea of being your own boss and making all the management decisions is extremely appealing to many. However, there are many considerations and plans to make before actually starting the business. Aside from the obvious of choosing what it is one wants to do, a person must consider how to acquire the funds to start the business, what liabilities the company and owners may be exposed
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Blacks in Business/ Black billionaires The Declaration on the Elimination of Discrimination against Women was adopted by the general assembly in 1967, and was a huge step towards equal rights for women. In the same time period, Martin Luther King was assassinated and the black civil rights movement placed strong roots in the streets of America. When Forbes 400 first came out in 1982, there were only 12 billionaires on the list that year, none of them neither women nor blacks. The most current list
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there is no job openings, and starting a business is the only way to earn a living. Other people simply want to be their own boss. Whether any of these reasons can help a person to decide to start a business. We will discuss the organizational forms of business, advantages and disadvantages of each, and possible tax consequences for each business structure. Some of the more common basic forms of business organizations are a sole proprietorship, partnership and corporation. A sole proprietorship is
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majority of the population. According to him, the theory of justice will only be adapted by society if it “guarantees the right of each person to have the most extensive basic liberty compatible with the liberty
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A. Johnson University of Phoenix October 1, 2012 Christine Benway Legal Forms of Business Starting a business is an exciting event for a business owner; it signifies the beginning of a business venture expected to be successful. Choosing an industry, identifying the target market, and developing a business strategy can be time consuming, however;
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