October 13, 2015 Zachariah R.F. Evangelista SER & ASSOCIATES, PLLC 2100 P ONCE DE L EON B LVD., S UITE 1180, C ORAL G ABLES,

Slides:



Advertisements
Similar presentations
Welcome to the 2008 Small Business Development Workshops
Advertisements

By: Brayan & Osvaldo. Sole Proprietorship Individual own business when one person runs/owns its on business Little government regulations Great risk for.
Business Associations (Organizations) OBE –118, Fall 2004 Professor McKinsey A group of two or more people (or even one person) can create a new “person”
Dr. Yousem’s project was funded through an RSNA Educational Grant
Chapter 34 LLC’s and LLP’s
Forming The Start Up Venture Which Structure is Right for You? Gregory W. Gribben, Esq. Woods Oviatt Gilman LLP October 9, 2012.
Chapter 14 Forms of Business Organization
LLC vs CORPORATION Presented by Lonnie Woods, Esq THE WOODS LAW FIRM www. WoodsLawFirmPC.com.
Choosing the Best Business Structure. Choosing the Legal Structure of Your Business Sole Proprietorship Partnership Limited Liability Company Corporation.
© 2004 West Legal Studies in Business A Division of Thomson Learning 1 Chapter 41 Limited Liability Companies and Limited Partnerships Chapter 41 Limited.
FORMS OF BUSINESS ORGANIZATION. Introduction and Understanding of  Three Principal Forms of Business Organization  Essential Attributes and Characteristics.
Choosing the Best Business Structure
The American Private Enterprise System. Part VI Investor- Owned Corporations and Limited Liability Companies.
Farm Business Arrangement Alternatives AAE 320 Based on work of Philip E. Harris Center for Dairy Profitability Dept. of Agricultural and Applied Economics.
Forms of Business Ownership
©2010 Haynes and Boone, LLP Choice of Business Entity by Christina Marshall.
Business Associations (Organizations) OBE –118, Fall 2004 Professor McKinsey A group of two or more people (or even one person) can create a new “person”
California Law March 18 Business Organizations Intellectual Property Paralegal Profession.
Chapter 14 Farm Business Organization and Transfer
Chapter 4 THE FUTURE OF BUSINESS: The Essentials Gitman & McDaniel THE FUTURE OF BUSINESS: The Essentials Gitman & McDaniel Chapter 4 Forms of Business.
Accounting and Tax for the Small Business NOVEMBER 8, 2012.
Forms of Business Organization in the USA
LESSONS ENTREPRENEURSHIP: Ideas in Action© SOUTH-WESTERN PUBLISHING Chapter 2 SELECT A TYPE OF OWNERSHIP An Existing Business A Franchise.
Ch. 5-2 Forms of Ownership.
Chapter 12 Legal Forms of Organization. Copyright © Houghton Mifflin Company12-2 Overview How to make the decision Legal forms of organization –Sole proprietorship.
By Gustavo Lucio.  This type of ownership is for people who want to make all of their business decisions independently.  This type of ownership has.
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 5 SLIDE 1 BUSINESS LAW BUSINESS OWNERSHIP.
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 5 SLIDE Forms of Business Ownership 5 C H A P T E R Economic.
Chapter 14: Business Entities Chapter 14 Business Entities.
Chapter 3: Forms of Ownership1Copyright 1999 Prentice Hall Publishing Company Choosing a Form of Ownership.
“C” Corporation Unlimited owners (shareholders) Unlimited owners (shareholders) No personal liability for shareholders No personal liability for shareholders.
Copyright © 2011 Pearson Education CHAPTER 5.  There is no one “best” form of ownership.  The best form of ownership depends on an entrepreneur’s particular.
Chapter 3 Forms of Ownership Copyright 2006 Prentice Hall Publishing Company 1 Choosing a Form of Ownership.
Unit 18 Forms of Business Organization Ted Feitshans Agricultural & Resource Economics N.C. State University November 2003.
Supplements.  Profit-making enterprises  Sole proprietorship:  Partnership:  Corporation:
Forms of Business Ownership. “C” Corporation Unlimited owners (shareholders) No personal liability for shareholders Taxed on earnings at corporate level.
6 - 1 Copyright © 2016 Pearson Education, Inc. Forms of Business Ownership 6 Section 2: The Entrepreneurial Journey Begins.
By: Diego Miranda.  When an individual owns and operates there own business. There is very little government regulations, but there are great risk for.
Other Organizational Forms for Small Business Chapter 31.
TYPES OF BUSINESS OWNERSHIP 1 Objective Types of Business Ownership 2 Sole Proprietorship Partnership Corporation Cooperative Franchise Which type.
Forms of Business Ownership GOALS UNDERSTAND THE THREE MAJOR FORMS OF BUSINESS OWNERSHIP. DETERMINE WHEN EACH FORM OF BUSINESS OWNERSHIP IS MOST APPROPRIATE.
@ 2012, Cengage Learning Corporations: Organization, Stock Transactions, and Dividends LO 1 – Understanding the Nature of a Corporation.
Forms of Business Organization Business Law Chapters 26 & 27.
MY BORROWER IS A ____________________* WHAT DO I NEED TO KNOW? AND WHO HAS THE AUTHORITY TO SIGN? *CORPORATION, PARTNERSHIP, LLC…OTHER COLORFUL ADJECTIVES.
Forms of Business: –Sole Proprietorship –Partnership –Corporations –Limited Liability Company –S-Corporation –Cooperative.
Chapter 3 Forms of Ownership of Small Businesses University of Bahrain College of Business Administration MGT 239: Small Business MGT239 1.
Entrepreneurship CHAPTER 7 SECTION 2.  Corporation – business that is registered by a state and operates apart from its owners. 1.Ownership or equity.
Forms of Business Ownership 5-2. Goals Understand the three major forms of business ownership. Determine when each form of business ownership is most.
Business Forms Chapter 5. Choosing a Form of Ownership There is no one “best” form of ownership. The best form of ownership depends on an entrepreneur’s.
ENTREPRENEURSHIP Lecture No: 29 BY CH. SHAHZAD ANSAR.
Choice of Business Entity: Governance
Dr. Yousem’s project was funded through an RSNA Educational Grant
Types of Business Structures
Understand the nature of business.
Farm Business Arrangement Alternatives
Chapter 31: Other Organizational Forms for Small Businesses
7.00 Understand marketing and business management.
Chapter 38: Limited Liability Companies and Limited Partnerships
Understand marketing and business management
Forms of Business Ownership
Forms of Business Ownership
Chapter 6 Corporate Forms of Business Ownership
Corporations.
Unit 2 - Understand the Nature of Business
The Dental Practice: Business Foundations
Special Types of Business Ownership
Business Organization
Understand the nature of business.
From Class Econ Notes Mr. Park.
BUSINESS STRUCTURES VIRGINIA ENTITIES - WHICH IS BEST FOR MY BUSINESS?
Presentation transcript:

October 13, 2015 Zachariah R.F. Evangelista SER & ASSOCIATES, PLLC 2100 P ONCE DE L EON B LVD., S UITE 1180, C ORAL G ABLES, FL T: ; F:

Types of Business Entities Sole-Proprietorship Partnership Limited Partnership Limited Liability Partnership Corporation Non-Profit Corporation Social purpose Corporation Benefit Corporation Professional Service Corporation Limited Liability Company Professional Service Limited Liability Company 2

Entities you won’t use Sole-Proprietorship No protection from liability Partnership Exposed to liability caused by a partner 3

Questions -How many people are going to own the business? -Will the owners also manage the business? -Will investors be sought? -If there are multiple owners, how will the profits be distributed? How will the loses be distributed? How will voting rights be partitioned? - Will the business operate locally, statewide, throughout the United States, or globally? - Will you transact business on the internet? If so, you may want to reconsider your answer to the previous question. 4

Questions, continued -If multiple owners, will some of them be ‘silent’ partners? How silent will they really be? -What risk of litigation is the business exposed to? -Will new owners be allowed to join in the future? -Will you retain earnings for business development, or will you distribute all or most of the business’s earnings to the owners? -Will you go through the formalities of separating personal finances, books and records from the business’s finances, books and records? -Did you speak with your accountant? 5

Corporations Creature of state law Legal Person Limited liability of owners Fiduciary duties Required formalities Meetings Minutes Books Ownership represented in stock Double taxation Sub chapter S Ownership separate from management 6

Stakeholders Shareholders Directors Duty of loyalty Duty of care Officers 7

Documents of Corporation Articles of Incorporation By-Laws Minutes Corporate resolutions Shareholder’s agreement Restriction on transfer of stock Succession planning Voting Stock subscriptions 8

Limited Liability Company Creature of state law Legal person Limited liability for owner* Disregarded entity under tax code Owners are members Ownership represented by membership interest Great flexibility in management 9

Stakeholders Members Managers 10

Documents of LLC Articles of Organization Operating Agreement 11

Key Differences Changing Orders Elections Decisions Formalities Tax Treatment Transferability Limits on duties 12

Corporations with special purposes Non-Profit Corporation Social Purpose Corporation Benefit Corporation Professional Service Corporation/LLC 13

QUESTIONS 14

THANK YOU!!!! 15

Feedback: Privacy Policy Feedback
Do Not Sell My Personal Information
About project: SlidePlayer Terms of Service

© 2024 SlidePlayer.com. Inc. All rights reserved.