MGM101H5 Lecture Notes - Lecture 4: George Weston, Suncor Energy, Master Limited Partnership
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MGM101H5 Full Course Notes
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Document Summary
Consider issues of cost, risk, control, legal, administration and flexibility. A company that has legally incorporated (separate legal entity ) By creating a separate entity, the company has their own revenues. It can have a single owner or more. Business stands on its on, has a limited liability. Public: shares are traded on one or more stock exchanges. Shareholders invest in a company, and depending in shares can have an influence in the corporation. But they are not involved in the day to day decisions. Non-profit: performs public service, has special tax considerations to encourage formation. Ex: chapman"s ice cream is a private corporation started in 1973 by david and penny chapman. Professional corporations: canadian-controlled private corporation engaged in providing professional services (accountants, architects, lawyers, dentist ) Non-resident corporations: has head office outside of canada. Non-profit corporations: no owners/stockholders (religious institution, hospital, college) Crown corporation - only the federal or provincial government can set up.
