BU111 Lecture Notes - Lecture 6: Limited Liability Company, Canada Business Corporations Act, Sole Proprietorship
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Home state is the original country the business originated in. Host state is the foreign country that you will be expanding your company to. Biggest two determinants when deciding to make a business is tax and liability. Some structures provide limited liability and some have better tax reduction policy. Not liable if your car is set on fire/ not liable if any: limitation clauses: clauses that allow you to limit liability rather than exempt yourself completely from it. Branch: a branch is known to exist in another location other than the main office where the business is conducted, common in the banking industry, branches usually separated into different specialities of the company. Parent company asks foreign branch for customer information but the host state laws confidentiality rules prevent the disclosure of it: at the end, the host state laws usually prevail over the home state laws. General partnership, limited and limited liability partnerships.
