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    Business Formations & Negotiable Instruments

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    Using the internet locate the following articles specifically related to:
    1) Business formations. Prepare 350 word review of the article
    2) Negotiable instruments. Prepare 350 word review of the article

    Please properly cite and reference the articles and show step by step on how to write an "Article Review" Thank you.

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    https://brainmass.com/business/business-law/business-formations-negotiable-instruments-147916

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    Business Formations & Negotiable Instruments

    Business Formation

    Introduction
    People have the great idea for business, potential customers, resources but lack information about the paperwork i.e. business formation. It is the most common problem faced especially in starting the new business. Successful business demands a great deal of planning, time and effective management.

    Business Formation
    In the formation of business first step is to design the structure of business and it also enlightens the remaining needs of the business. Generally there are three kinds of structures. (Agarwal, 2006)
     Sole Proprietorship
     Partnerships
     Corporations

    Sole Proprietorship
    It is a for-profit business and owned and operated by a single person. He has the complete control and right on the business. The advantage of this structure is the autonomy of power and profits are not shared. But there are also disadvantages of accepting the risk in the venture and face the downfall. The owner is liable for all the obligations and payment of taxes on profits.

    Partnerships (General partnerships, limited partnerships, limited liability partnerships)
    In partnerships business is owned and operated by more than one person. Profits and losses are shared among the partners in amount of their share in the business. An individual cannot take a decision alone; it requires the consent of all the ...

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