ADM 1300 Lecture Notes - Lecture 5: Double Taxation, Decision-Making, Franchising

• School: University of Ottawa
• Department: Administration
• Course: ADM 1300
• Professor: Matthew Archibald

Document Summary

Chapter 5; entrepreneurship, and option for business ownership: recognize and seize an opportunity, many characteristics. Screening (adds value, competitive advantage, marketable, low exit costs: development. Financial success; it may not lead to financial success 50% fail within first year. Equity financing- allow people to invest for ownership/business: venture capitalists, angel investors, and crowd funding. When management and ownership of a business are one and the same. The oldest form of legal ownership in canada: for example, house cleaning. All profits of the business go to the sole owner. Pays only person income tax = federal and provincial more incomes, more tax. Difficulty in raising monies (plural form of money ) When two or more people combine their financial, managerial, and technical abilities to operate a business. Types of partnerships: general: all partner have unlimited liability (responsible for all the debt in the business, limited: one partner must have unlimited liability, joint venture: established for a specific project.