MGMT 2100 Lecture Notes - Lecture 11: Jon Bon Jovi, Legal Personality, Limited Liability Company
13 Feb 2018
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People who plan are more persistent, work smarter (plans direct the focus of your activities/deciding what you will/won"t do) Map out your future, but do it in pencil -jon bon jovi. Do it in pencil so you can change it, because good plans change, they don"t stay the same from the time you create them. Investors give you funds in exchange for a share of ownership in the company (ex. Never have to pay them back, if you go bankrupt, you owe them nothing. Borrow money, get a loan from bank (creditor) or individual creditor. Have to pay back loan plus interest, but don"t have to give up ownership of the company. People who are generous enough to just give it to you expecting nothing in return. Proprietorship:one person who says i"m going to start a business. Personally liable for all of your business debts. Partnership:two or more people that come together to start a business.
