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Essay / Research Paper Abstract
A 12 page paper that explores the different kinds of business structures. The purpose of this essay is to illustrate the viability of a partnership as a business structure. To do this, the writer describe and discusses each of the different forms of business, e.g., sole proprietorship, general and limited partnerships, different types of corporations, and the LLC company. The discussion includes a list of the advantages and disadvantages of each business structure. Bibliography lists 11 sources.
Page Count:
12 pages (~225 words per page)
File: MM12_PGbusfrm.rtf
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Unformatted sample text from the term paper:
form of the company the entrepreneur decides to use will depend on the kind of product or service offered, the size of the company, and the companys purpose and goals.
Each structure has advantages and disadvantages, thus the owner must consider many different factors when making this decision. The purpose of this essay is to illustrate the viability of a
partnership as a business structure. The illustration will be offered by describing and comparing the different business structures. The discussion includes a list of the advantages and disadvantages of each
business structure. Types of Business Structures There are several different ways a business can be structured. Each structure or model is described herein. Sole Proprietorship: Simply stated,
a sole proprietorship is a business that is owned and operated by an individual (Wall Street Journal Center for Entrepreneurs, nd). This business can have only one owner (Wall
Street Journal Center for Entrepreneurs, nd). This is the easiest type of business to set up because the owner makes all the decisions and because it is the least regulated
of all business structures (McConnon, 2002). Profits are taxed as part of the owners individual income (McConnon, 2002). The owner is responsible for all decisions, all financing, and all
liabilities the business incurs (McConnon, 2002). General Partnership: Businesses using this structure have two or more owners. Any kind of partnership needs to have a detailed contract or agreement between
the partners. This agreement outlines the responsibilities of each partner as well as the rights of each and include information such as: * the amount each partner will invest initially
(Wall Street Journal Center for Entrepreneurs, nd). * what happens if and when the business needs more money (Wall Street Journal Center for Entrepreneurs, nd). * which partners are
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