notes -probably will use a question from discussion -content of democracy -what is rule of law (may be specific or simple) -know some of constitutional law CML 2117 November 20‚ 2013 Corporate Law Forms of ownership 1. Sole proprietorship: provincial form of ownership‚ since you have to register your business name every 5 years this gets them money Why is this the most popular form of ownership? Economic purposes Everyone has assets‚ so for example the prof owns his home
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when it is in demand and not 4. Identify the problems being encountered and factors affecting the sales 5. Prepare plan of action Questionnaire I. Profile Variables Name of Business: ___________________ Type of Business: _______ sole proprietorship _______ corporation _______ partnership _______ others Area of Business: _______ along the public market _______ other commercial area _______ residential area _______ others Number of workers:_______ 1 _______ 2 _______
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property. Corporations can enter into contracts and may sue and be sued. For jurisdictional purposes‚ the corporation is a citizen of its state of incorporation. (It cannot vote‚ however.). Starting a corporation is more complicated than starting a proprietorship or partnership.” (Ross‚ et al‚ 2004 p. 13). Definitions of Wealth Maximization John Lin‚ founder and CEO of Shang-wa Electronics at age 68‚ John looks forward to spending less time on business and more time with his grandchildren while they
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Differentiate between entrepreneurs and businessmen. All entrepreneurs are businessmen but not all businessmen are entrepreneur. Time A businessman only spends his time on buying and selling products. However‚ an entrepreneur spends unlimited time in studying how to satisfy client’s needs and wants. Natural of job A businessman faces competition as ordinary challenge which makes him rigid in adapting to changes. An entrepreneur is always flexible in changing and refining his products. Decision
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business‚ defining roles and responsibilities and having a clear vision and mission for your business. Chris and Erica need to decide on the type of business structure for their business. Will they form a corporation‚ a partnership or a sole proprietorship? This will be an important part of laying a good foundation. They need to understand what type of foundation they are building upon. The next thing that Chris and Erica need to do is to define each of their roles and responsibilities. They
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Business Organization Research Notes Sole proprietors must also pay self-employment (SE) tax‚ a Social Security & Medicaire tax primarily for individuals who work for themselves. SE tax is figured using Schedule SE (Form 1040). Social Security & Medicaire taxes of most wage earners are figured by their employers. The SE tax rate is currently 15.3%. The rate currently consists of two (2) parts: 12.4% for Social Security (old-age survivors and disability insurance) and 2.9% for Medicaire
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Acme Fireworks Margaret E. Bridges Brian Lahargoue BUS 311 Business Law 1 Growing Acme Fireworks There is much to consider when expanding a business. How will you make‚ market‚ and distribute your product. Are you willing to take full liability for your product and understanding the legalities of what happens if your product is defective? Once that has been established‚ it’s important to make sure that your business dealings are in order. The strength of the contract and
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ORGANIZATIONAL STRUCTURES AND FORMS OF ORGANIZATION What is Management? According to Henri Fayol‚ "to manage is to forecast and to plan‚ to organise‚ to command‚ to co-ordinate and to control." Fredmund Malik defines it as "the transformation of resources into utility." Management in businesses and organizations is the function that coordinates the efforts of people to accomplish goals and objectives by using available resources efficiently and effectively. Natures of Management ◦
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are designed and handcrafted in Cupertino‚ California. CCC is privately owned (Legal Form): • Cupertino Custom Cabinetry (CCC) is a privately owned and operated cabinet shop manufacturing quality custom cabinetry. • The owner elected a sole proprietorship considering it to be the fastest and easiest form of business as customers started to line up in the early months of 2010.
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of business created in Chapter 1 is: a. Nonprofit. b. Repair and maintenance. c. Retail shop or online commerce. d. Sales-independent contractor. Ans: c 6. The business created in Chapter 1 will operate as a: a. Sole proprietorship. b. Corporation. c. LLP. d. LLC Ans: b 7. The first month of the year for the business created in Chapter 1 is: a. January. b. June. c. September. d. October. Ans: a 8. The new business created in Chapter
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