Purchase Solution

Business Ownership: Corporation, Partnership, Sole Proprietr

Not what you're looking for?

Ask Custom Question

For each of the following small businesses, describe the best form of business ownership: sole proprietor, partnership, or corporation. The small businesses include the following:
Retail electronics
Software developer
Advertising
Justify and explain why it is the best form of ownership for each particular business.
Be sure to include the advantages and disadvantages of the form of ownership in your discussion.

Purchase this Solution

Solution Summary

This solution describes the best form of business ownership for the following small business and why:
Retail electronics
Software developer
Advertising
The solution justifies and explains why it is the best form of ownership for each particular business. The solution includes
the advantages and disadvantages of the form of ownership (sole proprietor, partnership, or corporation). APA references are included.

Solution Preview

Please let me know if you have any questions. Good luck!

Retail electronics would be well served to be set up as a corporation. Unhappy customers might sue a retail electronic firm so this will give protection since a corporation acts as a legal entity. The corporation method would protect shareholder's personal assets, thus giving the owners limited liability. It would also give the company the ability to generate capital for expansion through the sale of stock. The corporation would get corporate tax treatment. A corporation method of ownership might encourage more employees to work for the electronics store and stay employed, since they could enjoy possible ownership through stock options. Corporations have more complex tax reporting and record keeping than other forms of ownership. Also, there may be double taxing in some cases. Corporations are held to ...

Solution provided by:
Education
  • BA, University of Southern California
  • MSS, United States Sports Academy
  • Ed.D, Boise State University
Recent Feedback
  • "Thank you!:)"
  • "thk u"
  • "thk u"
  • "THK U"
  • "Your opinion to the response, sounds great. Hopefully, I can hear back from the other job today. Thanks again!:)"
Purchase this Solution


Free BrainMass Quizzes
SWOT

This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.

Six Sigma for Process Improvement

A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.

Understanding Management

This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.

Lean your Process

This quiz will help you understand the basic concepts of Lean.

Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.