FINA 2244 Lecture Notes - Lecture 12: Trade Dress, Franchising, Franchise Rule
Document Summary
Sole proprietorships- a business organization in which the owner is doing business or himself. Partnerships- an association of two or more persons to carry on a business as co-owners for a profit: forming a partnership- generally established through written agreement of the parties. Dissolution- occurs when an event takes place that precludes the partners from engaging in any new business. Winding up- the completion of any unfinished business as well as the collecting and distributing of the partnership"s assets. Limited partnership-: forming a limited partnership- partners must execute a certificate of limited partnership and file it with the secretary of state. Christina sheppard futrell, esq: limited partners- generally investors who may not participated in management decisions, terminating limited partnerships- limited partnerships terminate in the same manner as general partnerships. Corporations- an artificial person or legal entity, created under state law: creating a corporation- state law establishes the procedures for forming a corporation.
