Textbook Notes (368,413)
Canada (161,874)
MGTA01H3 (583)
Chapter 4

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Department
Management (MGT)
Course
MGTA01H3
Professor
Chris Bovaird
Semester
Fall

Description
MGTA03Chapter 4Oct 24th 2011Forms of Business OperationCanada is a FREE MARKET economyGenerally Entrepreneurs need NO permission NO fees no special formsJust start3 Main types of Organization1Sole Partnership2Partnership3CorporationSole Proprietorshipowned and operated by 1 personEasiest way to form a businessMost common form of ownershipBusiness owned by 1 person they make all decisions keep all profitsDisadvantages limits to owners skillslimits to owners resourceshard to get loansPerson Liability you are personally responsible to pay any bills settle and lawsuitsUnlimited Liability no
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