The Case Of The Prospective Decorative Artwork Business Of Tom, Dick, And Harry

Our business is a partnership type of business because it’s owned by two people. Through our partnership, we will increase the level of our business, making decisions and implementation of changes can be fast, and we cover each other for holidays and

When it comes to partnerships Alex, Bill, Carl, and Devon will have two options- a general partnership or a limited partnership. Partnerships are beginning to be a business form of the past. Once upon a time, partnerships were “the default form of business and provided the benefit of pass-through taxation, but lacked the important feature of limited liability” (Chrisman, 2010, p. 465). In a general partnership, each partner associated with the entity will be held liable for their own business decisions as well as

A partnership is the best form of business given Shania’s situation. She has support from all angles that want to help her Christian coffee shop be a success. A limited liability partnership is best suited for Shania because of her possible partnerships with her husband, sister, and neighbor. According to the Limited Partnership (2015) article, this form of business is a “voluntary association where one or more partners contribute capital only, and those partners play no role in management.” Her husband wanted to make a contribution to Shania’s business but not in the lane of management, so by using this partnership he can still contribute his capital and maintain his partnership. The liability is limited to the amount of capital that the partner contributes. As a “silent partner” Marvin can make investments with the company, but not have any voting power or control over day-to-day operations.

For this task I have been asked to describe the legal and financial aspects that will affect start-up of the business

The partnership is a form of business that could be possible in Shania’s scenario due to the other individuals showing interest in the business idea. She can create a partnership with one or more persons and sharing of the profits is divided equally, unless an agreement states otherwise (Kubasek, et al., 2015, p. 423). Some of the benefits of a partnership are the ability to raise more capital and to share ownership responsibilities (Block, et al., 2015, p. 9). With committed partners it is possible to have a successful partnership.

They can also form a partnership, which is a type of business in which co-owners share the costs and work together to attract customers. As general partners, they would manage the business together and share profits, debts, and obligations associated with it. If Helena and Francine form a limited partnership, they could bring in other limited partners who help fund the

The company will be set up as a Limited Liability Corporation. This ownership will protect the personal assets of the partners.

My goal is to inform Alex, Bill, Carl, and Devon of the different business forms, so they can feel educated and informed when making this important decision. I want to thoroughly explain Corporations, Partnerships, and Limited Liability Corporations to them, so they are aware of their options. The siblings’ father passed away after operating a successful sole proprietorship for many years, so there will be a definite change in business forms. A sole proprietorship is no longer an option due to the amount of members. Fleischman and Bryant (2000) explain that this form of business “is an option only for a business with one owner” (p. 2).

‘A partnership should have two or more people who directly own and operate a business. (James 2014, p. 504)

DESCRIBE THE TYPES OF BUSINESSES, PURPOSE AND OWNERSHIP. INCLUDE IN THE DESCRIPTION, THE LIABILITY OF THAT BUSINESS.

Starting a business requires some research on licensing, state laws and regulations and finally getting things started. It also requires looking into the business entities, taking control, taxation, and of course taking liability issues into consideration. It is important for the business to be able to protect itself. In this paper, an extermination business, a restaurant/bar business and a construction scenario will be discussed based on the requirements of stating a successful business.

1/ For starting a small business with Roberto, I strongly believe our business organization will be following to Limited Liability company, LLC, which can be advantageous for providing protection to partners and investors. Both of us have equal rights to manage and have agency to contract for the company. Because of having the first small business together, our business organization do not allow for public offerings and stock sales that we can be easy to control. Also, we have to find one of the best farm for giving the milk, egg, and others organic supplies to make our products which means we need to sign a contract with them for every month.

The second legal form of business is a partnership. This form of business combines the partners financial and skill resources. On the down side, it requires a partnership agreement and the partners may not always agree on important business topics. The partners are still personally liable for all debt and legal actions. This form of business could answer the skill set issues needed to start the firm. It could also allow for a low startup cost do to the partners polling their money. (Holland, 1998, para. 3)

Converting a hobby into a business is something that many people look forward to accomplishing. This paper will discuss the type of business which I would like to pursue as an entrepreneur. In this business I will look to make sure that all activities that will be performed will earn profits as well as being in compliance with all laws and regulations. By abiding by the regulations and laws it will prevent any issues that may cause a problem. This paper will discuss the business and the important things that are needed to be successful.

Adrian and Sweetie both want to open a restaurant in New Zealand, they want to figure out which business structure would be the most suitable to run their restaurant, there are four to chose from: sole proprietorship, partnership, companies and trust. Each structure Impacts a business in different ways (Small business development corporation, 2016). Since Adrian and Sweetie are both planning the restaurant together they would be considered co-owners as they both “contribute money, property or personal labour or skill, with the expectation of sharing in an organization 's business profits and losses.” (Rappa, 2016). Because Adrian and Sweetie are partners, the best business choice would be a partnership.