Bus/415 Legal Issues Final Research Project Paper

Business Entities and the Impact of E-Business on the Global Legal purlieu Business entities be an nonionised group of people who bugger off together for a gainful or charitable purpose. In todays tune world, there are a number of ways in which to legitimately drum and structure a business line. disquiet unspoiledy choosing and creating the correct legal entity result ultimately have a huge impact on the success and profitability of the business venture. The basic causes of business organizations accept mend possessorship, general partnership, limited partnership, corporation, and [the] limited liability smart set (Cheeseman, 2004, 605). Learning team C will examine and dispute three of these business entities. Various Business Entities and E-Business Examples Sole Proprietorship The most unsophisticated type of business entity, sole proprietorships, are owned and managed by 1 person as his or her personal space and wherefore considered one legal entity. This entity is operated under the persons own plant or registered under an assumed or trade recognize besides known as Doing Business As (DBA) (Cheeseman, 2004, 607). When creating a sole proprietorship there are no formalities and no federal or state approval require from the government. in operation(p) costs are also low and the proprietor preempt run the business from whatsoeverwhere. The only requirement whitethorn be from a local government level to arrive a business license.

Personal liability of sole proprietorship As a sole proprietor, any number of employees heap be hired, with their paid wages and di fferent business expenses deducted on the ow! ners personal tax return. Consequently, the owner is accountable for business clams and losses, which means that should the business fail, creditors can legally go by and by the owners personal assets (Barnes, Dworkin, & Richards, 2006, 450). In addition, the owner of the business cannot apportion shares of the business to gain outside funds. at that place are no specific... If you want to get a full essay, ensnare it on our website: OrderCustomPaper.com

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