Ownership Smore

Zack Eggers

Sole Proprietorship

A Sole Proprietorshipis a business that is owned and operated by a sigle person. This person manages the companies and gets all of the profits the companies make. Sole Proprietorship has many risks but it is personally liable for all types of debts and court judgements. The business itself is unable to pay a creditor, and the creditor can legally size the owner's house, car, and or other possesions.
SOLE PROPRIETORSHIPS - Advantages and Disadvantages

Partnership

A partnership is a business with two or more owners who share in the decisions, assets liabilities, and profits of the business. There are two different types of partnerships, General Partnership, and Limited Partnership. The general partnership, every partner is involved in the management of the firm. In a Limited Partnership, their liability is limited to only the amount they invested in the company.
Advantages & Disadvantages of Forming an LLC, Partnership, or Corporation -- FL Lawyer Steve Kramer

Limited Liability Partnership (LLP)

A limited liability company is not a partnership or corporation. Owners are called members, not partners or shareholders. Owers have the same liability protection of a corporation. All losses, profits and expenses flow through the company to the individual members avoiding the double taxation.
What are the disadvantages of having a limited liability partnership, or LLP?
What are the advantages of having a limited liability partnership, or LLP?

Cooperation

A corporation is a business that is registered by a state and operates apart from its owners. It issues shares of stock and continues to operate after the owners have sold their intrest and have past away. Corporations can also sue and be sued. An advantage is the limited liability and a disadvantage is double taxation.
Advantages & Disadvantages of Forming an LLC, Partnership, or Corporation -- FL Lawyer Steve Kramer

Citations


Sole Proprietorship Video

-http://www.youtube.com/watch?v=V0Noy8j9ft8


Partnership Video

-http://www.youtube.com/watch?v=5B1GDxeKj2M


Limited Liability Partnership (LLP) Video

-http://www.youtube.com/watch?v=mFv1A_jJuy0

-http://www.youtube.com/watch?v=5YzLM6IdDz0


Cooperation Video

-http://www.youtube.com/watch?v=5B1GDxeKj2M


Text Book

-Glencoe Business Plan Project Workbook; Glencoe: Building th Future of Business; Chapter 10 Page 141-146