BMGT 110 Chapter Notes - Chapter 5: Franchising, Leveraged Buyout, List Of Company Registers

• School: University of Maryland
• Department: Business and Management
• Course: BMGT 110
• Professor: All

Document Summary

Corporaion=legal enity w/ authority to act + have liability separate from owners. Make up 20% of businesses, but earn 81% of business receipts. Ease of staring+ ending business simply need equip. and possibly license. Retenion of company proits keep proits and beneit from increased value. Limited inancial resources limited by what owner can gather. Management diiculies need qualiied employees to run the business. Limited growth expansion slow b/c rely only on owner. Limited life span dies w/ owner unless taken over by heirs. General partnership=all owners share in operaion+ assume liability. Limited partnership=1+ general partners & 1+ limited partners. Limited partner=invests money, but no management or liability. Limited liability= limited partner debts is limited to amount they put into comp. Master limited partnership (mlp) = looks& acts like corporaion, taxed like partnership. Limited liability partnership (llp) =limits risk of personal assets to outcomes of only their acions. Uniform partnership act (upa) =deine 3 key elements of partnership.