Business Structures Overview -- There are a number of different business structures that are available to the new business owner, or someone purchasing a business. Each different structure has its own set of rules, with each having different tax and legal implications. The choice of which to use is thus based on the type of business, its overall legal liability (e.g. A rafting company vs. A resume service), the number

BUSINESS COMPANIES Business Companies: Business Entity Implications for ContractsSole ProprietorshipA sole proprietorship is defined as a business owned by one person. The advantages include whole ownership entitled only to the proprietor himself, low taxes, and rarer complications for launching (Treece, 2018). However, there are also pitfalls, such as less protection when under threat of legal cases, profit and losses are the only income, and seeking new businesses would be an

However, liability is limited to the corporation and offers owners' limited personal liability, which is something that is not found in a sole proprietorship or partnership (Corporation: Definition, Formation, Maintenance, 2012). Furthermore, a corporation is also considered to be a stand-alone entity that has separate tax liabilities; as such, the corporation is responsible for paying corporate taxes on any of the profits the company makes, however, each employee is

Business Entities There are four different types of business entities that you can choose for your company. Some of the factors to take into consideration are liability, taxation and ownership structure. The different major business structures will each have their advantages and disadvantages, depending on the needs of your business. Understanding the differences between the different business structures is essential to aligning the structure with your business needs. The most basic form

As part of the research triangle, Raleigh has a significant portion of its population that fits the target market. For the Farmery to succeed, it only needs to capture a small portion of the market share. This is especially true because the store has a small footprint, and has the flexibility to set up on vacant lots without the costs of either renting or developing fixed real estate. The

Whereas I try to respect the requirements of formal rules and procedures, I would prefer to violate those rules where their application would lead to an unintended result or undermine the effort to achieve the greatest benefit. In this respect, I would violate the requirements of rule utilitarianism where isolated violations provide a benefit without necessarily resulting in any diminution of the greatest possible good. For example, our office building