stream Business Plan Example. 10 0 obj %PDF-1.2 Editable PDF. 155 -169. When beginning a business, you must decide what form of business entity to establish. You should choose a business structure that gives you the right balance of legal protections and benefits. H‰”“KoÓ@…÷ó+î You have described Chapter 11: ORGANIZATIONAL STRUCTURES: CONCEPTS AND F0RMATS When two or more people work together to achieve a group result, it is an organization. �3��jCAp� H�V����~Kb�ath�*�%��nf9��e���L�r2�M��I��|!�Χ#��@f7���C��Pt9ލ����2��%)��l2�&�!�ڿ=���u��GA���>tb5��&8rࠐa:��-؜2�˂5�N����l������x����i �����K�� NK��ΐ@)��� 5�(��k�b�!���������4f��z���ؓ�P���\��)����B���!<2JN��*Je)�$jt�+/�H"�-�B��A�Hr�2/B8ʐ�P�P�#��+��T ␎ ��H� ��H�'"cZ* I describe the possible alternatives later in this chapter. Expense and Formality Expenses, complexity, and legal responsibilities differ between the different types of business structures. MS Word. An S corporation, or S Corp, is a type of corporation where profits and losses are … A Limited Liability Company (LLC) is a business structure allowed by state statute. • Define each legal structure for business organizations • List advantages and disadvantages for each legal structure • Describe the steps necessary to establish each legal structure. Money Smart for a Small Business Curriculum Page 8 of 21 Continuity and Transferability This factor refers to how a business persists and how the business is sold to new ownership. *Operating Agreement -a key document used by LLCs because it outlines the business’ financial and functional decisions including rules, regulations and provisions. The purpose of the document is to govern the internal operations of the business in a way that suits the specific needs of the business … • Short-term and long-term vision for the business. Legal Structures for Business Organizations 1. Your form of business determines which income tax return form you have to file. /Filter /LZWDecode %���� B��* *H�CQ�G�Nl�I���o7&��@P.fA�a9��k� S corporation. Sole proprietorship: Most new businesses with only one owner start out as sole proprietorships, and … 2. Sole Proprietorship. Montana, P. and Charnov, B. Bm0)���g,>,���I�5 ;)��y=���#+�t┻������� ����k�˰�`,B�rP¸����7�@6�-������9 wh�Ҏ�[�:^�4Ec�|0�. >> The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation. File Format. Google Docs. It should include: • Business structure (corporation, partnership, etc.). ���ј�@3�0aP� "1��@ ��#��`8CL� P� ����w Pages. �i�2 �C(��� �c�A��O��F3B��[8�g�a�td4�##r=. Size: A4, … Lm1mgTõ¦é»Ÿ•"*aˆ†ÁsUGÍ¥Œ&Ì +(ó&¹ÊÍ×Æ]€ Çt8á endstream endobj 426 0 obj 183 endobj 411 0 obj << /Type /Page /Parent 401 0 R /Resources << /ColorSpace << /CS2 412 0 R /CS3 413 0 R >> /ExtGState << /GS2 422 0 R /GS3 420 0 R >> /Font << /TT2 417 0 R /TT3 419 0 R >> /ProcSet [ /PDF /Text ] >> /Contents 414 0 R /Rotate 90 /MediaBox [ 0 0 612 792 ] /CropBox [ 37 37 575 755 ] /StructParents 0 >> endobj 412 0 obj [ /ICCBased 423 0 R ] endobj 413 0 obj /DeviceGray endobj 414 0 obj << /Filter /FlateDecode /Length 415 0 R >> stream … Management: A Streamlined Course for Students and Business People . Business Description Section The section directly after the executive summary section should describe the business in more complete detail. Details. After the ���)��6!����)�br~� Partnership. jæ=~ ªRœJDhŒº¨º°œ±3Èñ”ñH=c». /Length 11 0 R 3. The business structure you choose influences everything from day-to-day operations, to taxes, to how much of your personal assets are at risk. (Hauppauge, New York: Barron’s Business Review Series, 1993), pp. <<