Bus210 Week2

Topics: Corporation, Stock, Legal entities Pages: 2 (278 words) Published: August 29, 2013
Business Organization - Week 2
Amanda Ward
BUS210
08/22/2013
Kathy Willis

Business Organization - Week 2
Describe a business scenario, or multiple business scenarios, either real or fictional, that depict(s) each of the following forms of business organization:

Joint –stock company
Limited liability company
Partnership
Sole proprietorship

A joint-stock company sells off stock certificates of ownership to investors in order to raise capital. Triad Financial, now known as Santander, was an example of a joint-stock company. Jim Landy, CEO owned 49% of the company and his investors owned with 51% of the company. A limited liability company it is a legal system that prevents creditors from seizing the personal wealth of a company’s stockholders to pay a company’s debts. Essentially if the company goes bankrupt or gets sued the stockholders are not responsible for those debts. McDonalds is as an example of an LLC.

A partnership is two or more individuals that combine talents and capital to start a business. All profits and losses are shared evenly by all involved. My husband and his friend started a company many years ago called Doghiker.com each contributed financially for the start up of the company and distributed the work and financial responsibility evenly. Eventually my husband sold his portion of the business to his friend and established two other companies of his own.

A sole proprietorship is owned by one person. All legal and tax matters are the owners debt and not the company. My husband’s current business Doodydude.com is an example of a sole proprietorship.

References

Jones, G.R. (2007). Introduction to business: How companies create value for people. New York: McGraw-Hill/Irwin


References: Jones, G.R. (2007). Introduction to business: How companies create value for people.
New York: McGraw-Hill/Irwin
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