Understanding business 10th chapter 5b how to form a business

• Master Limited Partnership Master LPM - Consists of having a general partner who is responsible for running the partnership, and having individual investors who are limited partners..

• Master Limited Partnership Master (LPM) -

Consists of having a general partner who is responsible for running the partnership, and having individual investors

who are limited partners Looks much like a corporation,

but is taxed like a partnership and thus avoids the

corporate income tax

• Limited Liability Partnership (LLC) - Domestic LLCs

may be managed by one or more managers or one or

more members Members are only responsible for losses,

up to the amount they invest and those they supervise A California LLC generally offers liability protection similar to that of a corporation but is taxed based on the number of members.

OTHERS FORMS OF PARTNERSHIPS

Partnerships

LG2

5-14

HOW OWNERS AFFECT

Board of Directors (hire Officers)

5-21

The BIG BOYS of BUSINESS

About.Com - Retail Industry - 2013

The 10 Largest Private Corporations in the U.S.

COMPANY STATE INDUSTRY

PricewaterhouseCoopers NY Business Services & Supplies

Love’s Travel Stops &

Ernst & Young NY Business Services & Supplies

EVEN the BIG GUYS MAKE MISTAKES

Advantages of

Corporations

LG3

5-25

COMPANY BAD MOVE

Apple Maps Launched in September 2013, was a disaster, giving terrible directions,

missing railway stations, and Dublin Ireland was given a new airport

Atari Amount of Surplus from a bad game was so big, that it had to be buried in a

New Mexican landfill

Coca Cola New Coca only lasted 77 days due to 1500 complaint calls a day

This created a mess for Denny's and Metz Customer backlash was intense, and other franchisees not involved with issue reported sales drop Metz apologized regretting his statement after being spoken with by Denny’s CEO

OLDIES BUT GOODIES

Philadelphia

MAKE WAY for the NEWBE

Top New Franchises

HOME SWEET HOME

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