1 / 8

Chapter 3 (Unit 1)

Chapter 3 (Unit 1). Types of Owner. Types of legal structures. Sole proprietorship. - The simplest form of structure to set up . A business that falls under this category has my legal existence separate from its owner . All the profits belong to you as the owner of the business .

lynton
Download Presentation

Chapter 3 (Unit 1)

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Chapter 3 (Unit 1) Types of Owner

  2. Types of legal structures

  3. Sole proprietorship • -The simplest form of structure to set up . • A business that falls under this category has my legal existence separate from its owner . • All the profits belong to you as the owner of the business . • Examples : • grocery store , bakeries …..ets .

  4. General partnership -A business owned by tow or more individuals . -Personal liable for all transaction proprietors .

  5. Corporation • Exists separately from the people who created it . • -Run by board directors elected by the shareholders. • Have four characteristic : • 1- Liability limited to the extent of assets . • 2- Continuity of life . • 3- Centralization of management . • 4- Free transferability of ownership assets .

  6. Limited liability company • Limited liability to it owners . • Flexibility in deciding the system of income taxes . • More flexible than a corporation . • It is a form of organization well suited to companies a single owner .

  7. Nonprofit corporation • Provide a service to the community • Cannot be bought or sold like business.

  8. Story from real life ….

More Related