Types of business entity Essays & Research Papers

Best Types of business entity Essays

  • Types of business entity - 1463 Words
    What is the most effective type of business entity? Introduction: There exists a range of types of business entities, some of which could be more successful than others. It is definite that different legal structures of business operate and make decisions in various ways. This text suggests patterns for organizing the entrepreneurial examples in order to see what type of business is the most effective. It could be included three common types of business entities——sole proprietor, partnership...
    1,463 Words | 4 Pages
  • Business Entities - 1213 Words
     Business Entities, Laws & Regulation Paper BUS/415 February 4, 2011 Business Entities, Laws & Regulations When starting your own business, you have to do research on licensing, state laws and regulation. A person has to also research other requirement as well like, business entities, taking control taxation and taking liability issues into consideration. With all this done and in motion this will help the business to protect itself from anything....
    1,213 Words | 4 Pages
  • Types of Business - 671 Words
    Sole Proprietorship When entrepreneurs set out to start a business venture, many of them start with a sole proprietorship. A sole proprietorship usually involves a single person who runs a business on his or her own. Sole proprietorships are small businesses that often take off to form larger business entities when the owner desires to do so or when the right opportunities are presented. Some of the disadvantages of having a sole proprietorship are the simplicity of operating the business,...
    671 Words | 2 Pages
  • Types of Legal Entities/Companies
    COMPANIES Starting a business in India requires one to choose a type of business entity. In India one can choose from five different types of legal entities to conduct business. These include Sole Proprietorship, Partnership Firm, Limited Liability Partnership, Private Limited Company and Public Limited Company. The choice of the business entity is dependent on various factors such as taxation, owner liability, compliance burden, investment and funding and exit strategy. Lets look at each of...
    1,032 Words | 4 Pages
  • All Types of business entity Essays

  • Business Entity Paper - 436 Words
    Business Entity Paper There are different forms of businesses and they al have their own purpose. Some are for individuals and others are for partners but they both have different forms. Depending on the size and type of business the owners decide how they are going to start it. Also the liability behind them and the type of ownership also depends on how they decide to go. A corporation is a juridical entity established under the corporation code and register with the Securities and Exchange...
    436 Words | 2 Pages
  • Business Entities Paper - 1119 Words
     Business Entities Paper Trameka M. Alpough BUS/415 January 31, 2011 Richard Simon When starting a business it is important to choose the correct type of entity that will allow it to be successful. Upon choosing the best entity for the business there are different rules and regulations that need to be followed including issues from liability to taxation. Starting a business requires some research on licensing, state laws, and regulations. Opening a business requires choosing an...
    1,119 Words | 4 Pages
  • Business Entity Matrix Paper
    Business Entity Matrix Selecting the type of business entity is an important decision for any business that determines the liability of owners and structure of the business. The business is looking to sell pet treadmills domestically and eventually internationally. Using market research on the potential demand as a determining factor, the business will look to assess the sales capabilities of the company. Every company must evaluate all the advantages and disadvantages of each type of business...
    985 Words | 3 Pages
  • Business Entities and Liabilities Repaired
     BUS 670 Legal Environment of Business Business Entities & Liabilities Instructor Leah Westerman May 19, 2014 Businesses Entities and Liabilities “A business entity is an organization established as a separate existence for the purposes of taxes (BusinessDictionary.com, n.d.).” Some of the most common known business entities are; sole proprietorships, general partnerships, limited partnerships, corporations, and limited liability companies. Each business entity has its advantages and...
    1,508 Words | 5 Pages
  • Business Entities, Laws, and Regulations
    Restaurant/Bar “Lou and Jose plan to open a sports bar and restaurant but they do not have much money. Miriam is a wealthy investor who does not have time to work the business; however, she wants to provide funds for the start-up of the business. In return, Miriam wants a percentage of ownership” (University of Phoenix, 2010). Business Entity A limited liability partnership is the best choice of business entity for Lou, Jose, and Miriam. Jose and Lou will control and manage the business...
    1,556 Words | 5 Pages
  • Business entity summary - 1269 Words
    COMPARISON OF THE FORMS OF BUSINESS ORGANISATIONS Definition Sole-Proprietorship A business owned by one person Partnership An association of two or more persons carrying on business in common with a view to profit Limited Partnership (LP) A partnership consisting of two or more persons, with at least one general partner and one limited partner Limited Liability Partnership (LLP) A partnership where the individual partner’s own liability is generally limited Company...
    1,269 Words | 13 Pages
  • Business Entity Case Study
    Business Entities Cases BUS 415 July 9, 2012 Restaurant/ Bar Case Lou, Jose and Miriam can go into business in the form of a corporation, or partnership, or LLC where Miriam provides monetary capital, while Lou and Jose provide manpower. An operating agreement or purchase-option agreement should be established under which Lou and Jose could each buy a predetermined portion of the business at a predetermined cost. If they choose to...
    1,072 Words | 3 Pages
  • Business Entities Laws and Regulations
     Business Entities, Laws and Regulations Alicia Adams, Cory Froyum, Frankie Baca, Kimberly Freeman, Maria Davis ETH/321 4/6/2015 Professor Somerville Business Entities, Laws and Regulations Introduction goes here Business Entities, Laws, and Regulations Once Lou and Jose open a sports bar and restaurant with the help of Miriam they would qualify for an LLP. Though Miriam doesn’t have time to participate in the business he still has a percentage of ownership due to his funding the...
    270 Words | 1 Page
  • Choosing the Right Business Entity
    Choosing the Right Business Entity By Rosa Martinez Professor Smith English 315 February 24, 2012 TRANSMITTAL TO: Small Business Owners FROM: Rosa Martinez DATE: February 24, 2012 ------------------------------------------------- SUBJECT: Choosing the Right Business Entity ------------------------------------------------- Enclosed is the Justification Report covering information related to different types of entities that could be chosen to establish a business....
    1,142 Words | 5 Pages
  • Types and Forms of Business Organization
    Types and Forms of Business Organization There are millions of successful businesses around the world. One common trait all these businesses is that they have some sort of organization. But “What is Organization?” – it is the first topic I would like to speak. Then I will tell you about “Structure of an Organization”. After that we consider the “Types and Forms of Business Organization” and the variety of “The Names of Companies” (plc, Ltd, etc.) and, finally, I will tell some words about...
    1,072 Words | 3 Pages
  • Types of Business Ownership - 1058 Words
    1. Sole Proprietorship Single proprietorship is the simplest form of organization in most of the countries in the world. Unlike other forms of entity, it is usually not governed by special laws. A proprietorship is a type of business entity which legally has no separate existence from its owner. Hence, the limitations of liability enjoyed by a corporation and limited liability partnerships do not apply to sole proprietors. All debts of the business are debts of the owner. The single proprietor...
    1,058 Words | 4 Pages
  • Types of Business Forms - 1796 Words
    How to choose the right type of Business form LAW/531 How to choose the right type of Business form Today’s business world has many choices for the new entrepreneur to decide from when forming a business. The choices are sole proprietorship, partnership, limited liability partnership, a limited liability company, a S corporation, a franchise, and a corporate form. Development of scenarios portraying each of these forms of business will aid the entrepreneur with deciding which form...
    1,796 Words | 5 Pages
  • Types and Forms of Business Organization
    TYPES AND FORMS OF BUSINESS ORGANIZATION A business organization is frequently referred to as a business entity. A business entity is any business organization that exists as an economic unit. Business entities can be grouped according to the type of business activity they perform. 1. Service companies perform services for a fee. This group includes companies such as accounting firms, law firms, repair shops, and many others. 2. Merchandising companies purchase goods that are ready...
    390 Words | 2 Pages
  • Business Entities, Laws, and Regulations Paper
     Business Entities, Laws, and Regulations Paper Greg Celentano BUS/415 – Business Law Teresa Anderson June 13, 2011 Business Entities, Laws, and Regulations Paper This paper will examine two business scenarios and determine which business entity is the best choice for each business after taking in to consideration control, taxation, and liability issues. In addition laws and regulations each business must consider in starting the business will be identified along with the...
    1,407 Words | 5 Pages
  • Business Entities, Laws, and Regulations Paper
    Running Head: Business Entities, Laws, and Regulations Paper Business Entities, Laws, and Regulations Paper Abstract The following paper includes the consideration of control, taxation, and liability issues for two hypothetical businesses as well as legal, regulatory, and risk issues each of the two businesses may face. Also included in this paper is a hypothetical hiring manager scenario in which the hiring manager must choose from numerous applicants who possess various levels of...
    1,730 Words | 5 Pages
  • Business Entities, Laws, and Regulations Paper
    Business Entities, Laws, and Regulations Paper Tia London-White BUS 415 May 23, 2011 Pamela Weddell Business Entities, Laws, and Regulations Paper Extermination Business: The best business entity for Frank would be a franchise. A franchise is established when a franchisor, Frank, licenses another party to use their trade name, trademarks, commercial symbols, patents, copyrights, and other property while supplying and selling their goods and services (Cheeseman, 2011). Frank should...
    867 Words | 3 Pages
  • Business Entities, Laws, and Regulations Paper
    Business Entities, Laws, and Regulations Paper BUS/415 March 5, 2012 Beth Shankle-Anderson There are different scenarios with three different forms of entities that require taking control, taxation, and possible liability issues into account. These considerations will not only serve to ensure compliance is met but also so that each establishment is protected. In the first scenario Lou and Jose plan to open a restaurant/sports bar, the issue is that they have not accumulated of the money,...
    1,476 Words | 4 Pages
  • Business Entities, Laws and Regulations Paper
     Business Entities, Laws and Regulations Paper 415 October 31, 2011 Business Entities, Laws and Regulations Paper In this assignment, the first section I will be discussing what type of business entity the business model of Lou and Jose should have with their restaurant/bar and the other business model as an extermination business by Frank. I will also discuss each models characteristics and factors in starting those businesses with relation to laws and regulations. For the...
    1,444 Words | 4 Pages
  • Business: Types of Companies and Sole Proprietorship
    BB003 Chapter 05 Choosing a Form of Business Ownership True / False Questions 1. The corporation is the most common form of business ownership. True False 2. The three major forms of business ownership in the U.S. are sole proprietorships, partnerships, and corporations. True False 3. Few people today start their own business. True False 4. Once a business is established, it's almost impossible to change from one form of business ownership to another. ...
    3,760 Words | 14 Pages
  • What It Is About Government and Not-for-Profit Entities That Mean They Are Unable to Meaningfully Apply the Same Set of Standards as Do Business Entities
    Introduction The Australian Accounting Standards Board (2013) makes the Australian Accounting Standards, including Interpretations. The neutral Standards was adopted when AASB merged with Public Sector Accounting Standards Board and it is now to be applied to all types of entities that are required to prepare financial reports by the Corporations Act 2011, the General Government Sector (GGS) and entities in the for-profit or not-for-profit private or public sectors that are reporting entities....
    1,284 Words | 4 Pages
  • Partnership and Its Types - 1631 Words
    Partnership and Its Types Sir Saleem Abbas 10/10/2012 Islamia university of bahawalpur Partnership A partnership arises whenever two or more people co-own a business, and share in the profits and losses of the business. Each person contributes something to the business -- such as ideas, money, or property -- though management rights and personal liability will vary. In Pakistan the partnership firms are registered...
    1,631 Words | 5 Pages
  • Business Law Business Plan
    Business Law I January 31, 2013 Corporate Structure Assessments Part A: A sole proprietorship is a type of business entity that is owned and run by one individual and in which there is no legal distinction between the owner and the business. The owner receives all profits (subject to taxation specific to the business) and has unlimited responsibility for all losses and debts. The IRS does not consider the sole proprietorship as a separate business entity. The owner reports...
    404 Words | 2 Pages
  • Variable Interest Entity Analysis
    August 16, 2010 NDS 2010-19 New Developments Summary Variable interest entity analysis ASC 810, Consolidation, as amended by ASU 2009-17 Introduction A reporting entity must assess whether its involvement with another legal entity requires the reporting entity to consolidate that legal entity and / or provide disclosures in accordance with guidance for variable interest entities. This bulletin outlines a reporting entity’s step-by-step approach to the assessment of its involvement with...
    19,643 Words | 87 Pages
  • Separate Legal Entity - 342 Words
    Question Advice the directors of Finance Pty Ltd that their chances of success in successfully claiming the tax deduction for the bad debt arising from the failed business project undertaken by Iron Ore Ltd. The Finance Pty Ltd comes within the definition of “subsidiary” in s 46 of the Corporations Act 2001. Firstly, Iron Ore Ltd, as the parent company, controls the composition of the first body’s board: the five directors of the Finance Pty Ltd are come from the Board of the Iron Ore Ltd;...
    342 Words | 1 Page
  • Company as a Separate Legal Entity
    COMPANY AS A SEPARATE LEGAL ENTITY Definition: A legal entity, typically a business, that is defined as detached from another business or individual with respect to accountability. A separate legal entity may be set up in the case of a corporation or a limited liability company, to separate the actions of the entity from those of the individual or other company. Meaning: If a business is a separate legal entity, it means it has some of the same rights in law as a person. It is, for...
    1,286 Words | 4 Pages
  • Legal Entities and Sole Proprietorship
    Sole Proprietorship: Sole Proprietorship is a very common form of small business organization. Benefits include having complete and total control as to how the business is run, marketing, hours, as well as the immediate dissolution of the business. Disadvantages range from personal liability for the business. A sole proprietor is also held responsible for all taxes for the business as personal income. Liability: A sole proprietor is held personally liable for any errors or damages caused by...
    1,245 Words | 4 Pages
  • Aggregate vs. Entity Approach
    Lesson 1. Aggregate vs. Entity Approach 1. Aggregate approach: the partnership as a separate entity is disregarded and each partner is viewed as directly owning an undivided interest in the partnership's assets operations. If the tax law used only aggregate concepts, the partnerships and their partners would be treated: - Each partner would be taxed on share of partnership income and would be viewed as owning a direct interest in each partnership asset. - Contributions and distributions...
    1,158 Words | 4 Pages
  • Business Organization - 659 Words
     Business Organization Gerald Johnson BUS 311 Business Law I Leah Westerman January 19, 2015 Opening a business has many different parts form type, to formation and taxation. If I were to start a business it would be a sole proprietorship. My main reason behind this choice is because I would want full control of my own creation or business. The business would be my personal income, so any amount I make would be claimed on a personal income tax so the profits or losses would be...
    659 Words | 3 Pages
  • Business Structures - 595 Words
    Business Structures Fin/571 June 15, 2013 Business Structures If someone wants to start a business, that person would have to decide which structure he or she would want to use. To know what kind of structure he or she has to know what kind of business he or she is trying to run and who will run it with him or her. Structures range from sole proprietorships and partnerships to corporations. When companies first start up, they consider sole proprietorships or partnerships, but as...
    595 Words | 2 Pages
  • Business Plan - 8477 Words
    I. EXECUTIVE SUMMARY A. Type of Business Green Heart Nutraceuticals is a company engaged in manufacturing natural herbal food supplements. It was established through the continuous efforts of the partners to develop and innovate products to improve the health and wellness of the people in the community without having them to spend a large amount of money. By the name itself, Green Heart Nutraceuticals is a company having a big heart to the health of the people, as well as the environment...
    8,477 Words | 27 Pages
  • Business in Russia - 735 Words
    ------------------------------------------------- International Business In Russia Introduction There are a number of misconceptions about Russia as a business destination. Some people believe that conducting business in Russia is an all too easy process and that all it takes are some good connections or simply meeting with the right people. On the other hand, others believe that in Russia, it is almost impossible to do business and that companies are not governed by the basic principles of...
    735 Words | 3 Pages
  • Business Structures - 528 Words
     Business Structures Hazel Figueroa Fraticelli University of Phoenix FIN/571 February 25, 2015 Prof. Erick Ramos Business Structures Paper For this work, I will be describing the different business structures offered by the website of UOP. After watching the videos offered on this website, one has noticed that there are different types of business structures. Although each of them differs from each other giving options to people...
    528 Words | 2 Pages
  • Business Law - 12202 Words
    Business Law, 7e (Cheeseman) Chapter 23 Transferability and Holder in Due Course 61) How does the definition of value for purposes of holder in due course differ from the definition of consideration? Why do you think there is a difference? Should there be a difference? Answer: An unfulfilled promise qualifies as consideration, but is not considered value given under Article 3 of the UCC. This is because a holder has not actually performed the promise, and thus has lost nothing yet, and...
    12,202 Words | 35 Pages
  • Business Ethics - 252 Words
    * Is the action illegal? Does the action violate any laws? Ethical issues that were raised by the Hewlett-Packard (HP) are Board of Directors member’s usage of pretexting during an investigation of information leaks. Pretexting is a deceptive practice by which one individual pretends to be someone else in order to gain anonymous access to information or an individual. Hewlett-Packard was facing multiple problems during the year 2000-2006. One of these problems was that at least one board...
    252 Words | 1 Page
  • Business Forms - 1782 Words
    Forms of Business When beginning a business venture, the first and most important decision made by the owner is to review the forms of business options and determine which one would be suitable for the organization of their company. There are seven forms of business that will be discussed and different scenarios that will be developed in which each of these forms of business would be the preferred form. The seven forms of business are sole proprietorship, partnership, limited liability...
    1,782 Words | 5 Pages
  • Introduction to Business - 1427 Words
    Course Syllabus Introduction to Business Course Code BUS 1020Faculty Member Catherine KennedyPrerequisite -Telephone042189106Co requisite-e-mail catherine.kennedy@emirates.comCredit hours 3Room 14 Accommodation BlockClass TimeTuesday 08.00-09.30 10.00 11.30 Wednesday 08.00-09.30 12.00 13.30Office HoursBBA Sunday 11.00 -12.00 EK BBA Monday 14.00 15.00 Classroom Regulations The use of mobile phones in the classroom is not permitted. Mobiles...
    1,427 Words | 5 Pages
  • Business Structure - 623 Words
    When beginning a business, it is extremely important that the owners of the business decide the organizational form that will be beneficial to maximize the value of the firm. The owners must consider the size of the business, the taxation of the business, the liability of the owners and the ability to raise capital to finance the business (Parrino, Kidwell & Bates, 2012). The owners will then choose one of the 3 different forms: sole proprietorship, partnership or corporation. Sole...
    623 Words | 3 Pages
  • Business Structures - 677 Words
     University of Phoenix FIN 571 Aljenette Brown Professor Elliott November 9, 2014 Business Structure A business is the fruit of a seed that a sole person or a group of people bears. The decision of what type of business to open will greatly affect the company in the long run. Many options exist for the person(s) such as opening a sole proprietorship, corporation, Limited Liability Corporations, partnerships, etc. Limited Liability Corporations and partnerships are very similar...
    677 Words | 3 Pages
  • Business Regulations - 1081 Words
    Business Entities, Laws, and Regulations Paper Dorian Rowe BUS/415 Shaun Koenig November 14, 2011 Businesses in every industry have to deal with entities, laws, and regulations. Management teams have to take into account items such as consideration of control, taxation, and liability issues among others. The purpose of this paper is to discuss the restaurant/bar, professional practice, and construction scenarios. For each scenario the business entity that represents the best choice for...
    1,081 Words | 4 Pages
  • Business Organizations - 1778 Words
    The Differences of Business Organizations Michael Lilly Western Governors University Sole Proprietorship: This type of business organization is owned by one person. This person is the manager and makes all decisions regarding day to day operations. Any money earned is considered income of the sole proprietor. Any debt incurred by the business also falls on the shoulders of the proprietor. Some advantages of a sole proprietorship are that the formation of this type of company fairly easy...
    1,778 Words | 6 Pages
  • Business Law - 2813 Words
    Question 1 A contract is an arrangement of a deal made between two or more person, which the law will enact. In formation of a contract, consent is one of the important, crucial and essential elements. It stated in Section 13 of the Contracts Act 1950 saying that “two persons are said to consent when they agree upon the same thing in the same sense.” Any agreement arranged is become contract if they are made by the free consent of parties. However, there are several occurrences or situations...
    2,813 Words | 8 Pages
  • Business Law - 2518 Words
    Business 100 Test 2 Review Q5-1. The __________________ is usually the easiest form of business to start and end. A) sole proprietorship B) limited partnership C) corporation D) cooperative Ans: A p. 143 Q5-2. Mara plans to open a shop specializing in foods and cultural items from the Middle East. She wants to be the firm's only general partner, but she is trying to get several friends to participate as limited partners. Apparently Mara wants to:...
    2,518 Words | 10 Pages
  • Business Structure - 4093 Words
    Sole Proprietorship A business with one owner who is responsible for all features of the business. Everything that happens in the company from the daily operation to the legal obligations are controlled by one individual. Sole Proprietorship Advantages: • Convenience - Usually the least costly to begin. Sole proprietorships are easy to start up. They entail acquiring the proper licenses and permits. Regulations very from industry, state, and county. There is no administrative...
    4,093 Words | 12 Pages
  • business plan - 4869 Words
    Elements of a Business Plan 1. Cover sheet 2. Executive summary (statement of the business purpose) 3. Table of contents 4. Body of the document A. Business 1. Description of business 2. Marketing 3. Competition 4. Operating procedures 5. Personnel 6. Business insurance B. Financial data 1. Loan applications 2. Capital equipment and supply list 3. Balance sheet 4. Breakeven analysis 5. Profit and loss statements 6. Three-year summary 7. Detail by month, first year 8. Detail...
    4,869 Words | 15 Pages
  • Business Association - 44651 Words
    BUSINESS ASSOCIATIONS OUTLINE I. Overview A. Major Course Themes i. Authority – what is corporation legally empowered to do and at what point is a corporation overstepping its bounds? ii. Responsibility – once authority has been established, what are the limitations of that authority – what is the duty of care? iii. Liability – what actions should directors take to insulate themselves and when can they be held liable for breaching duty...
    44,651 Words | 130 Pages
  • Seperate Legal Entity Salamon Case
    Question 1 A corporation is a separate legal entity from its owners. The principle of separate legal entity is a fundamental of company law, and is demonstrated by SS119 and 124 of the Corporations Act. In other words, if a corporation, in the course of doing business, is involved in any legal action, then the corporation, for legal purposes, is its own person. The corporation is liable for its debts, not the members; members do not have the proprietary interest in the company assets. This is...
    327 Words | 1 Page
  • Doctrine of Piercing the Veil of Corporate Entity
    Doctrine of Piercing the Veil of Corporate Entity Requires the court to see through the protective shroud which exempts its stockholders from liabilities that they ordinarily would be subject to, or distinguishes a corporation from a seemingly separate one, were it not for the existing corporate fiction (Lim vs CA, 323 SCRA 102) Extent: The application of the doctrine to a particular case does not deny the corporation of legal personality for any and all purposes, but only for the particular...
    452 Words | 2 Pages
  • Corporation and Business - 1550 Words
    CHAPTER 4 1. Is a limited partnership treated as a separate entity for all purposes? If not, give an example of an instance in which a limited partnership is treated as an aggregate of its partners. No, they are not always considered separate entities when dealing with substantive liabilities and duties of the partners, the limited partnership is considered an aggregate of the individual partners. 2. Why is the fiduciary duty between the general partner and limited partners even...
    1,550 Words | 6 Pages
  • Business Opportunity - 3904 Words
    Makeup of a business opportunity A business opportunity consists of four integrated elements all of which are to be present within the same timeframe (window of opportunity) and most often within the same domain or geographical location, before it can be claimed as a business opportunity. These four elements are: • A need • The means to fulfil the need • A method to apply the means to fulfil the need and; • A method to benefit With any one of the elements missing, a business...
    3,904 Words | 14 Pages
  • Business Structure - 791 Words
    Business Business structures There are three types of business structures; sole proprietorship, partnership, and corporation. The business structure that a firm chooses is evaluated on liability, tax implications, and what type of business will be operated. In this paper I will discuss the advantages and disadvantages of the three business structures. Sole proprietorship is the most common and simplest form of business, majority of sole proprietors are small business owners. An...
    791 Words | 3 Pages
  • Business Law - 2670 Words
    BUSINESS LAW ASSIGNMENT MANAGEMENT AND DEVELOPMENT INSTITUTE OF SINGAPORE UNIVERSITY OF BRADFORD DIPLOMA IN BUSINESS MANAGEMENT DBMD21176B BUSINESS LAW ASSIGNMENT GROUP MEMBERS NO NAME FIN NUMBER PM 1. SHIVRAJ PATEL G1099448P 2. DINESH JAGWANI G1096070W 3. ANDREY SAPUTROSUGO G1100087N DATE: ANALYSIS /40 RESEARCH /30 ORGANIZATION /15 PRESENTATION /15 NAME OF LECTURER: Mr. DANIEL THEYAGU BUSINESS LAW ASSIGNMENT CONTRIBUTION TO THE CLASS ASSIGNMENT MADE BY...
    2,670 Words | 9 Pages
  • Business in Singapore - 30748 Words
    Doing Business in Singapore DOING BUSINESS IN SINGAPORE 1 CONTENTS 3 4 11 FOREWORD INTRODUCTION - Getting to know Singapore OVERVIEW OF LEGAL ENVIRONMENT - Legal Framework - Handling Civil Disputes - Employment - Immigration - Competition Act - Singapore's Free Trade Agreement (FTAs) STARTING A BUSINESS BANKING RELATIONSHIP IN SINGAPORE - Introduction to the Financial Landscape in Singapore - Banking in Singapore - Business Credit Facilities - Business Protection TYPES OF BUSINESS...
    30,748 Words | 104 Pages
  • Kinds of Business - 624 Words
    De Gula, Shiela Mae BSBA-HRDM 1-6D 3 kinds of business 1 Sole Proprietorship A sole proprietorship places all liabilities for finances and operations on the owner. The owner's personal property is tied to the business, so he assumes a risk against his personal assets should the business experience financial hardship. Annual income tax returns are filed on a Form 1040, and the owner must also file self-employment taxes. The profits and losses of the business are reported through the...
    624 Words | 3 Pages
  • Business 100 - 648 Words
    Accountants are in a position to provide advice to business owners to determine which organization structure is best for their particular business venture. Imagine that you were approached by a friend or relative interested in starting a specialty business to design men and women clothing. Discuss the advantages and disadvantages of at least two (2) forms of business structures. Make a recommendation regarding the structure your friend or relative should use based on this particular venture....
    648 Words | 2 Pages
  • Business Law - 3089 Words
    a) A director is an individual elected the shareholders of a corporation, who carries out certain tasks established in the charter, according to www.thefreedictionary.com. The duties are a series of common law, statutory, and equitable obligations. The duties are analogous to duties owed by trustees to beneficiaries, and by agents to principals. Directors owe duties to the corporation, and not to individual shareholders, employees or creditors outside exceptional circumstances. The duties of a...
    3,089 Words | 9 Pages
  • Business Forms - 1346 Words
    Legal Forms of Business Charlotte Strawhacker LAW 531 Feb 4, 2013 Legal forms of Business There are many ways to organize a business including sole proprietorship, partnership, corporation, S Corporation, Limited Liability Company, franchise and joint venture. Each form has its advantages and disadvantages and each has its own requirements and may be taxed differently. When starting a business the entrepreneur needs to look at all options to decide which would fit their business plan...
    1,346 Words | 4 Pages
  • Business Law Final Exam. Kellogg Business School
    Law and Corporate Managers – Prof. Larry Franklin Question Two A. (i) For refusal In order to honor the LC, the Seller has to comply exactly with the terms of the letter of credit. There are numerous typo errors in the LC and misspellings of the destination port and the Seller name, hence only a waiver of the discrepancies from JFTC will enable Bank of China to pay the Seller. As long as the waiver is not received, the BOC cannot make any payments. BOC has to state why it is not going to...
    1,914 Words | 6 Pages
  • starting your own business
     Phase 4 Individual Project Business Plan Proposal MFMT235-1501A-02 By: Stefanie Habermehl Date: 02/01/2015 Barrels of Plenty Proposal Plan The business I am proposing is named Barrels of Plenty. The prime purpose of this business is to create unique furniture pieces out of repurposed and reclaimed authentic Kentucky bourbon Barrels. Each barrel is made from white oak and charred to perfect taste of the bourbon. The barrels are only used once in compliance with the law....
    4,797 Words | 14 Pages
  • Legal Structure Of Business Organisations
    Legal Structure of Business Organisations Sole Traders General Partnerships Limited Patnerships Limited Liability Partnerships Companies Key Legislation General Law of Contract Partnership Act 1980 Limited Partnerships Act 1907 Limited Liabity Partnerships Act 2000 Companies Act 2006 Liability Unlimited Liability Each Partner jointly and severally liable Limiteed Liabiliy for limited partners and unlimted liability for general partner Limited to the amount tas they have agreed...
    574 Words | 3 Pages
  • Business Sample Questions - 1643 Words
    ESSAY Questions Bus 250 Ch 21-30 Fall 2012 1. What is a limited liability company? Explain the advantages and disadvantages of this type of business ownership? 2. Compare and contrast the following forms of business organization: sole proprietorship, general partnership, limited partnership, limited liability company, and corporation as to ease of formation, liability of owners, management, and tax implications. 3. Andy wants to start his own business. He has decided to rent space in...
    1,643 Words | 6 Pages
  • Business Forms and Attributes - 3347 Words
    1 Forms of Business Organizations and Their Attributes 2 Forms of Business Organizations And Their Attributes Sole Proprietorship A sole proprietorship is the easiest business organization to form because ownership consist of a single individual. The sole proprietor has ultimate control over the focus and direction of the entire business. This feature sets the sole proprietorship apart from all other business organizations. The advantages of a sole proprietorship are that the only...
    3,347 Words | 11 Pages
  • Mulitmedia Activity - Business Organization
     Multimedia Activity: Business Organization Business Law I March 4, 2013 Outside of a sole proprietorship, where a single owner owns and operates the business there are three basic types of business organizations: partnership, corporation and LLC, also known as limited liability company. (Rodgers, S. 2010. Chapter 13) The general requirements for each entity are the following; a partnership is defined as an association of two or more competent persons to carry on a...
    791 Words | 3 Pages
  • Legal Issues - Business Law
    Legal Issue A paper submitted in the course of Business Law BUS/415 University of Phoenix March 16, 2008 Introduction Agency Law in a Business Environment A principal is the party who employs another person to act on his or her behalf; an agent is a party who agrees to act on behalf of another. In order for the agent to successfully fulfill their tasks for their principal’s they have duties that they are expected to fulfill. The duty to obey instructions, to act with skill, loyalty,...
    2,688 Words | 8 Pages
  • Choosing a Legal Form of Business
    CHOOSING A LEGAL FORM OF BUSINESS Choosing a Legal Form of Business Dannie L Holmes CHOOSING A LEGAL FORM OF BUSINESS Abstract Many of us probably have the thought of becoming an entrepreneur. With this thought comes many questions and you must have a plan. Let us say that you have an idea for a new kind of home appliance. You are convinced that this new technology idea would be applicable in a wide range of other products. With this idea in mind you have a...
    703 Words | 3 Pages
  • The Invention and Business Organization Forms
    The Invention and Business Organization Forms Lorraine Smalls and Editorial Broad, 2011 American InterContinental University ABSTRACT Lorraine said that invention has been the growth of technology over the years. The simplest ideas she believes have made life easier for people all over the world. Lorraine stated that many inventions have started within a person home just messing around with a thought of something he or she would love to have patent. Lorraine’s invention thought pertains...
    924 Words | 3 Pages
  • Legal Aspect of Business - 1330 Words
    Legal Aspects of a Business Subjecc: Princples of Business Introduction When starting up a new business it is very important to look at the legal aspects which will influence the company in the future. In this part of the information file there will be the most important legal aspects for running a student company. First there is the selection of business form, in which there will be a compairison between the different possible forms. Afterwards a...
    1,330 Words | 5 Pages
  • Preferred Business Forms - 1383 Words
    Introduction The purpose of this paper is to analyze each of the following forms of business: sole proprietorship, general partnership, Limited Liability Partnership (LLP), Limited Liability Company (LLC), S-Corporation, franchise, and C-Corporation and develop a justifiable scenario of the preferred form of business. Business Forms The sole proprietorship is the simplest form of business. The owner of the business is called the sole proprietor and is the business. The sole proprietorship,...
    1,383 Words | 4 Pages
  • Doing Business in Canada 2012
    Doing Business in Canada 2012 Finding Opportunities and Avoiding Pitfalls Cover photo: Panoramic view of the City of Vancouver in British Columbia, Canada Doing Business in Canada 2012 Finding Opportunities and Avoiding Pitfalls mccarthy.ca Managing Editor Robert W. F. Stephenson IN MEMORIAM This annual publication, like the ones before it, was edited by Robert Stephenson, a partner in our Business Law Group in Toronto, who passed away on February 12, 2012. Robert’s law...
    38,098 Words | 128 Pages
  • Different Business Forms - 911 Words
    Each traditional business form, sole proprietorships, corporations, and partnerships, all have their own advantages and disadvantages. Before you enter any of these types of business forms, you should always weigh out the advantages and disadvantages of what you are getting yourself into to see if it is worth it. A sole proprietorship is the simplest form of business organization where the owner is the business. There are many advantages to a sole proprietorship. One major advantage is that...
    911 Words | 3 Pages
  • Business Association Outline - 14781 Words
    I. Agency (Chapter 1) A. Who is an Agent i. Agency Definition Agency is a fiduciary relationship which results from the manifestation of consent by one person to another that the other shall act on his behalf and subject to his control and consent by the other to so act. 1. Contractual relationship is not necessary, nor do either need to receive compensation 2. Agent - the one to act 3. Principal - the one for whom action is taken 4. Agency means more than mere passive permission; it...
    14,781 Words | 43 Pages
  • Legal Business Studyguide - 2311 Words
    Legal 2 Test 2 Studyguide Sole Proprietorships the simplest form of business organization. Sole proprietorships are the most common form of business organization in the US. Major advantages: * Forming a sole proprietorship is easy and does not cost a lot. * The owner has the right to make all management decisions concerning the business, including those involving hiring and firing employees. * The sole proprietor owns all of the business and has the right to receive all of...
    2,311 Words | 7 Pages
  • Importance of business law - 448 Words
    Importance of Business Law 1. To define Basic Setup of a business. Business law defines different types of business for setup, such as - Partnership, Proprietorship, Corporation (Private and Public), etc. Such definitions of types of business help clarify ownership of the business entities. 2. To define Regulations for Business Operations. There needs to be certain rules and regulations to carry on various timely operations in any business regardless of the type of business. For...
    448 Words | 2 Pages
  • Small Business Management - 2135 Words
    Small Business Structure Starting a small business is a wonderful way to share your ideas, services or inventions with the community around you. There are so many benefits to owning and operating a small business but you first must know the correct steps to take. One of first step in creating a successful business would be to create a well written and thought out business plan. The US Small Business Association also known as the SBA stated “Your business plan is a essential roadmap to your...
    2,135 Words | 6 Pages
  • Business Partnership Disadvantages. - 2028 Words
    Business Partnership Disadvantages • Business partners are jointly and individually liable for the actions of the other partners. • Profits must be shared with others. You have to decide on how you value each other’s time and skills. What happens if one partner can put in less time due to personal circumstances? • Since decisions are shared, disagreements can occur. A partnership is for the long term, and expectations and situations can change, which can lead to dramatic and traumatic split...
    2,028 Words | 6 Pages
  • Establishing Your Storytelling Business
    Chapter 7 - Establishing Your Storytelling Business “Now here's a story I heard tell...” In this chapter… • Building a Support Network • Establishing Your Identity • Your Trade Name • Trademarking Your Name • Types of Businesses • Small Business Assistance • Setting Up a Checking Account • Business License • Business Plan • General Liability Insurance • Insuring Your Equipment and Merchandise • Keeping Track of Your Income...
    3,683 Words | 15 Pages
  • Summary of Introduction to Business - 2893 Words
    Chapter 1: Motives and Functions of a Business 1. The goal of a business: * Businesses are established to serve the need of customers. A business can provide products or services. * The goal of a business is to make profits. a. Where the profits come from? * Revenue is generated when selling products or services. * Expenses are incurred when paying employees and purchasing machinery or facilities. * The difference between the revenue and expenses is the profit:...
    2,893 Words | 12 Pages
  • Family Business Plan - 1069 Words
    Information About The Business Ming Yi Feeds Sdn Bhd was established and started its feeds operation in Malaysia in 2004 by the founder Seah Yeok Chee. The establishment of the company is to support the founder’s family business in chicken farming. Ming Yi produces and market animal nutrition product and provides consulting services to customer across the poultry value chains. They are specialized in producing chicken feeds and selling the raw material especially corn and soya bean. Besides...
    1,069 Words | 5 Pages
  • Business Structure Gap Analysis
    GAP Analysis Business Structure Every organization needs a structure to operate and develop. It is the configuration of authority positions and relationships within the business. The Business Structure is vital for a company’s performance and efficiency. It must be correctly designed and adjusted to the environment of the business. In order for the company to achieve its purposes and respond to the constant changes in trends and demands, a more flexible structure is more suitable. *...
    1,003 Words | 4 Pages
  • Small Business Idea Paper
    Ryan Feemster University Of Phoenix Ms. Kessel Acct 561 Small Business Idea Paper Week 2 12/24/2012 Small Business Idea Paper A business can create large sums of income for an entrepreneur or entrepreneurs. Most future business owners have an idea of what type of service or product to offer. Deciding the type of business organization to become can be a tough decision. Whether the it be a sole proprietorship, partnership, C- Corporation, S- Corporation, or a Limited Liability...
    2,571 Words | 9 Pages
  • business law and ethics project
     Legal organization of business A corporation is a business or organization formed by a group of people, who are known as shareholders, with the sole purpose of making profits. A corporation is its own legal entity, meaning that it has its own juridical personality. It has many of the some rights and obligations that and individual would have, such as the competency to buy and sell property; enter into leases and contracts; and can sue or be sued, essentially, it can be prosecuted and...
    1,693 Words | 6 Pages
  • FORMS OF BUSINESS ORGANIZATION - 1955 Words
     PAMANTASAN NG LUNGSOD NG MAYNILA (University of the City of Manila) Intramuros, Manila GRADUATE SCHOOL OF MANAGEMENT BUSINESS POLICY (FORMS OF BUSINESS ORGANIZATION) Submitted by: MORESCO, MICAH RUTH S. Submitted to: DR. HONORATA PAGADUAN A business is an organization that uses economic resources or input to provide goods or services to customers in exchange for money or other goods and services. After deciding to start a business, one of the most important issues is...
    1,955 Words | 7 Pages
  • Business Research Paper - 2184 Words
    What’s Your Form of Business? Shannon E. Thomas Everest University Composition II What’s Your Form of Business? When opening a business, establishing new products or bursting into new markets, you will have choices to make. The choices you decide upon are all determined by the information you collect. The more familiar you are about the options you have, the better your choices will be when you venture into the business market. One of the best investments you can make before jumping into...
    2,184 Words | 6 Pages
  • APPENDIX CFORMS OF BUSINESS ORGANIZATIONSBelow Are
    APPENDIX C FORMS OF BUSINESS ORGANIZATIONS Below are brief descriptions of each problem. These descriptions are accompanied by the estimated time (in minutes) required for completion and by a difficulty rating. The time estimates assume use of the partially filled-in working papers. Problems C.1 E-Z Manufacturing Company LO C-3, Students are required to calculate partners’ share of net income, determine C-10 the effects of income taxes for partners, and prepare a statement of partners’ equity....
    4,453 Words | 49 Pages
  • Nature of Business Topic Notes
    iThe Nature Of Business: TOPIC 1 Business | The organized effort of individuals to produce and sell goods for a profit that satisfies individuals needs and wants | Product | Is a good or service that can be bought or sold | Goods | Are items that can be seen and touched. | Services | Are things done for you by others | Finished product | Is something that is ready for customers to buy and use | Production | Are activities that are undertaken by the business. They combine resorsed to...
    2,745 Words | 11 Pages
  • Company Law in Malaysia - Separate Legal Entity
    Introduction In a modern capitalist market economy, companies are a familiar part of everyday life. Companies own supermarkets, supply water, gas, electricity and petroleum products we are depending on. They publish the newspapers and provide our Internet services. We deal with companies so often as purchasers and users of their products and services that the image ‘company’ brings to mind is usually of an organisation concerned with marketing and collecting payment for products which the...
    5,368 Words | 13 Pages
  • Form of Business. Feasibility - 1120 Words
    CHAPTER V MANAGEMENT STUDY The management study is concerns in the organizational set-up of the business. This includes the organizational chart and the qualifications of the people involved. It also determines the type of business ownership. It’s implies a clear and precise identification of duties and responsibilities, flow of authority and manpower level requirement. It must be set up for optimum effectiveness. Form of Business Partnership is the company’s form of business. It is a type...
    1,120 Words | 6 Pages
  • Legal Forms of Business - 905 Words
    Legal Forms of Business Law/531 2013 2013 Abstract This paper will consider each of the following legal entities: sole proprietorship, partnership, limited partnership, Limited Liability Company and corporation. In addition, it will explain why sole proprietorship would be the legal entity chosen to set it up a business. Legal forms of business Sole Proprietorship: A sole proprietorship is the simplest and most common structure chosen to start a business. It is an unincorporated...
    905 Words | 3 Pages
  • Business Plan for a Gym - 4672 Words
    DESCRIPTION OF OUR BUSINESS The name of our business is “Get a life fitness center: A family concerned gym.” From the very name, it is evident that ours is a service providing one. Our main action is to provide our members the best fitness facilities within affordable range. For this, we have decided to use high quality equipments. As far as the form of business is concerned, it is a B2C partnership business consisting of five general partners whose names, backgrounds and area of...
    4,672 Words | 23 Pages
  • Legal Enviroment for Business - 4261 Words
    Legal Environment of Business Assignment 5/17/2012 Student: Cojocaru Natalia Teacher: Rácz Margit A.) Define very briefly and reference your answers in Harvard style: 1.) Regulation pag 29 1st book According to Andrasi and Madarassy (2004) a Regulation is a system of legal rules created by the State, in which are regulated the form or type, the initiation process and all other details. In formation of legal person (legal personality) this rules must be strictly respected. The...
    4,261 Words | 13 Pages
  • Forms of Business Organizations - 2809 Words
    Answer: • Sole proprietorship: A sole proprietorship is a business owned by one person. The owner may operate on his or her own or may employ others. The owner of the business has total and unlimited personal liability of the debts incurred by the business. • Partnership: A partnership is a form of business in which two or more people operate for the common goal of making profit. Each partner has total and unlimited personal liability of the debts incurred by the partnership. There...
    2,809 Words | 11 Pages
  • Legal Form of Business - 1202 Words
    Legal Forms of Business Mike Martin LAW/531 January 9, 2012 Carmina Perez-Fowler Legal Forms of Business Legal forms of business include sole proprietorship, partnership, limited liability limited partnership, limited liability company, S corporation, franchise, and corporation. Each of these legal forms offers distinct benefits to business owners and investors. The decision to incorporate one legal form as opposed to another is often determined by circumstance and underlying factors....
    1,202 Words | 4 Pages
  • Starting and Naming a Business - 1470 Words
    BUSI 561, Legal Issues in Business Liberty University Starting & Naming a Business Betty Wilson’s venture of opening a Christian Coffee House in Belmont, NC, presents her with abundant opportunities in selecting a business form. She is considering the following types of entities: 1) franchise, 2) sole proprietorship, 3) partnership of some sort, 4) corporation of some sort, 5) LLC, or 6) even as a joint venture. We will briefly explore each business option and give Betty concise...
    1,470 Words | 5 Pages
  • Doing Business in Belgium - 935 Words
    knowledge partner of private companies Belgium > Bulgaria > Czech Republic > Germany > Hungary > Luxembourg > Poland > Slovak Republic > Belgium Essentials of Doing Business in Belgium accountancy > audit > tax > legal > corporate finance > family office > environment > accountancy > audit > tax > legal VGD is a member of www.vgd.eu - 1 - VGD, knowledge partner of private companies TABLE OF CONTENTS Preface VGD as your knowledge partner for doing business in Belgium VGD as a member of...
    935 Words | 7 Pages
  • Business Law Paper - 1419 Words
    Business Law Paper Riley T. Yates BUS/415 April 2, 2012 Daniel Marinberg Business Law Paper In setting up a new business the first step is setting up the best business structure for the need of the business. There are many different things that need to be looked at in order to determine the correct entity that will be used. Will there be partners is a big question in this determination, another questions which is the most correct for the business legally. Another consideration needs to...
    1,419 Words | 4 Pages
  • Business Accounting Assignment - 735 Words
    Business is an organisation involves in trading activities of goods or services or both. Business can be a profit organisation or a non profit organisation. There are three types of profit organisation in business. First type is Merchandising Business which involves purchasing and selling the products that they purchase. They do not manufacture the products. Example of this business is Parkson, who purchase clothings, toys and other products from various manufacturers and then sell in their...
    735 Words | 3 Pages
  • Assignment 'Introduction to Business" - 1334 Words
    Assignment Content | Chapter 1 | First Question | Chapter 2 | Second Question | Chapter 2.1 | Characteristics of “Partnership” | Chapter 3 | Third Question | Chapter 3.1 | Characteristics of “Business Environment” | Chapter 3.2 | Characteristics of “Porter’s Five Forces” | ADIL ZHAXYLYKOV TP029709 UCFF1207(G2-T2) BM004-4-0 ITB 1. What would be the aims and objectives of the business Luke is planning to implement after graduation? The main aim of the Luke’s business idea is...
    1,334 Words | 6 Pages

All Types of business entity Essays