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DESCRIPTION
3 What is Six Percent?TRANSCRIPT
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You’ve gotSole!
Howdy Partner
TheCorporate
Ladder
Buy a Franchise
Other Stuff
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All together, sole proprietorships generate only
about this percent of all United States sales.
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What is Six Percent?
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The biggest disadvantage of sole
proprietorships.
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What is unlimited personal liability? LiabilityLiability is the legally bound obligation to pay debts.
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This is an advantage of a sole proprietorship.
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What is:Ease of start-up?Few regulations?
Sole receiver of profit?Full control?
Easy to discontinue?
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Sole proprietorships have limited access to _________, such as
physical capital. Human capital can also be limited, because no
one knows everything.
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What are resources?
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Sole proprietorships also lack____________. Whenever an owner closes shop due to illness, retirement, or any other reason,
the business ceases to exist.
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What is permanence?
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In this type of partnership, partners share equally in both
responsibility and liability.
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What is a general partnership?
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In this type of partnership, only one partner is required to be a
general partner, or to have unlimited personal liability for
the firm.
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What is a limited partnership?
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This is a newer type of partnership. In this form, all partners are limited partners.
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What is a limited liability partnership?
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This is one of the advantages of a
partnership.
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What is: 1. Ease of Start-Up2. Shared Decision Making and
Specialization3. Larger Pool of Capital4. Taxation
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One of the disadvantages of partnerships
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What is:1. Unless the partnership is a limited liability partnership, at least one partner has unlimited liability.2. General partners are bound by each other’s actions. 3. Partnerships also have the potential for conflict.
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A legal entity, or being, owned by individual
stockholders.
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What is a corporation?
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These represent a stockholder’s portion of
ownership of a corporation.
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What are stocks or shares?
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A corporation which issues stock to a
limited a number of people
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What is a closely held corporation?
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A corporation that buys and sells its stock on the open
market
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What is a public corporation?
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Some advantages of Incorporation
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- Individual investors do not carry responsibility for the corporation’s actions.- Shares of stock are transferable, which means that stockholders can sell their stock to others for money.- Corporations have potential for more growth than other business forms.- Corporations can borrow money by selling bonds. - Corporations can hire the best available labor to create and market the best services or goods possible.- Corporations have long lives.
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A semi-independent business that pays fees to a parent company in return for the exclusive right to
sell a certain product or service in a given area.
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What is a business franchise?
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Advantages of business franchises
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What are:- Management training and support- Standardized quality- National advertising programs- Financial assistance- Centralized buying power
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Disadvantages of franchises
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What is:- High franchising fees and royalties- Strict operating standards- Purchasing restrictions- Limited product line
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A business organization owned and operated by a group of individuals for their shared
benefit
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What are cooperatives?
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Institutions that function like business organizations, but do
not operate for profits
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What are non-profits?
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Two or more firms competing in the same market with the same
good or service.
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What are horizontal mergers?
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Two or more firms involved in different stages of producing the
same good or service.
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What are vertical mergers?
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a business combination merging more than three businesses that
make unrelated products.
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What is a conglomerate?
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large corporations headquartered in one country that have
subsidiaries throughout the world.
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What are multinationals?
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Advantages of Multinationals
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What is:- Multinationals benefit consumers by offering products worldwide. - They also spread new technologies and production methods across the globe.