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Ch. 3: Other Organizational Forms For Small Business - No. 7
Clarkson et al.’s Business Law: Commercial Law for Accountants (1E)
Ch. 3: Other Organizational Forms For Small Business - No. 8
Clarkson et al.’s Business Law: Commercial Law for Accountants (1E)
OTHER SPECIAL BUSINESS FORMS
Syndicate: A group of persons or entities who jointly finance
a particular project (e.g., an offshore production platform).
agreement, setting forth the interests of the beneficiaries and
the obligations and powers of the trustees, in which the
trustees retain legal ownership and management of the trust
property with profits distributed to the beneficiaries per the
terms of the agreement.
its members (or shareholders).
Ch. 3: Other Organizational Forms For Small Business - No. 9
Clarkson et al.’s Business Law: Commercial Law for Accountants (1E)
GENERAL CONSIDERATIONS FOR SMALL
BUSINESS
Limitations on Liability: Will the business form chosen
limit the owner’s personal liability for business debts and
obligations?
Tax Considerations: Which is the best business form for
corporate income tax?
Requirements for All Business Forms: All businesses must
meet a variety of legal requirements, which typically relate to
the following:
(1) Business name registration
Ch. 3: Other Organizational Forms For Small Business - No. 10
Clarkson et al.’s Business Law: Commercial Law for Accountants (1E)
Converting an LLC into a Corporation: Incorporation
allows the larger business to attract more outside capital with
Clarkson et al.’s Business Law: Commercial Law for Accountants (1E)
FINANCIAL CAPITAL
Loans: A small business may find it beneficial to obtain a
bank loan because raising capital in this way allows the
network and pool funds and other resources to assist a cause
or invest in a venture.
Ch. 3: Other Organizational Forms For Small Business - No. 8
Clarkson et al.’s Business Law: Commercial Law for Accountants (1E)
OTHER SPECIAL BUSINESS FORMS
Syndicate: A group of persons or entities who jointly finance
a particular project (e.g., an offshore production platform).
agreement, setting forth the interests of the beneficiaries and
the obligations and powers of the trustees, in which the
trustees retain legal ownership and management of the trust
property with profits distributed to the beneficiaries per the
terms of the agreement.
its members (or shareholders).
Ch. 3: Other Organizational Forms For Small Business - No. 9
Clarkson et al.’s Business Law: Commercial Law for Accountants (1E)
GENERAL CONSIDERATIONS FOR SMALL
BUSINESS
Limitations on Liability: Will the business form chosen
limit the owner’s personal liability for business debts and
obligations?
Tax Considerations: Which is the best business form for
corporate income tax?
Requirements for All Business Forms: All businesses must
meet a variety of legal requirements, which typically relate to
the following:
(1) Business name registration
Ch. 3: Other Organizational Forms For Small Business - No. 10
Clarkson et al.’s Business Law: Commercial Law for Accountants (1E)
Converting an LLC into a Corporation: Incorporation
allows the larger business to attract more outside capital with
Clarkson et al.’s Business Law: Commercial Law for Accountants (1E)
FINANCIAL CAPITAL
Loans: A small business may find it beneficial to obtain a
bank loan because raising capital in this way allows the
network and pool funds and other resources to assist a cause
or invest in a venture.
