LAW 122 Lecture Notes - Lecture 5: Golf Cart, Fiduciary, Canada Revenue Agency
22 Oct 2017
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Types: fringe (just so you know, sole proprietorships, partnerships general partnerships limited partnerships limited liability. Consequences: liability and benefits of entrepreneurs and other stakeholders differ depending on type of business entity used. Entity: sole proprietorship, partnership, corporation, fusions, state enterprises, State enterprises: soe (state operated enterprises, non-democratic context, family pact context, transparency issues, funding and control issues, e. g. China, korea: crown corporations, statute creates and empowers, ministerial input, faa: deals with government & businesses, airport authorities, government owns the land but it"s privately operated, statutory, transparent. Government agencies: subsect of crown corporations, more flexibility than a crown department/ministry but not as much as a stand alone cc, e. g. Can only raise money by personal borrowing. As business grows, these problems continue to grow. General partnership two or more parties carrying on a business with a view to a profit: there are no formal requirements for creating a partnership.
