Business Structure - Research Article from Macmillan Science Library: Genetics

This encyclopedia article consists of approximately 5 pages of information about Business Structure.
This section contains 1,313 words
(approx. 5 pages at 300 words per page)
Buy the Business Structure Encyclopedia Article

When forming a new company, one of the first critical decisions is the formal structure that business will take. Issues such as liability, ownership, operating strategy, and taxation are all impacted by the formal structure of the business. Four different business structures are discussed below: partnership, corporation, Subchapter S, and limited liability corporation (LLC).

Partnerships

A partnership is a business association where two or more individuals (or partners) share equally in profits and losses. As is the case with a sole proprietorship, partners have full legal responsibility for the business (including debts against the business). Persons entering into this type of business need a partnership agreement detailing how much each partner owns of the business, how much capital each person will contribute, and the percentage of profits to which they are entitled; how company decisions will be made; if the company is open to new/additional...

(read more)

This section contains 1,313 words
(approx. 5 pages at 300 words per page)
Buy the Business Structure Encyclopedia Article
Copyrights
Macmillan
Business Structure from Macmillan. Copyright © 2001-2006 by Macmillan Reference USA, an imprint of the Gale Group. All rights reserved.
Follow Us on Facebook