商务英语入门第一章_外教社修订版

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Forms of Business Ownership
Partnerships: Limited Partnership

Advantages — General partner maintains control of the business. — Limited partner can invest with a limit on personal liability. — Easy way to secure capital. — Business not taxed directly.
DOUBLE TAXATION The imposition of two or more taxes on the same income (in the case of income taxes), asset (in the case of capital taxes), or financial transaction (in the case of sales taxes)
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Forms of Business Ownership
Chapter 1
Forms of Business Ownership
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Chapter
Forms of Business Ownership
Lecture Outline

Sole Proprietorships 个人企业

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Chapter
Forms of Business Ownership
PartneLeabharlann Baiduships

Three key elements — common ownership — shared profits and losses — the right to participate in managing the operations of business
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Forms of Business Ownership
Corporations

The corporation is a legal entity, allowed by legislation, which permits a group of people, as shareholders (for-profit companies) or members (non-profit companies), to create an organization, which can then focus on pursuing set objectives.

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Chapter
Forms of Business Ownership
Sole Proprietorship

Advantages
— Owner in direct control (you are your own boss). — Keeping the profits from the business — The easiest form of business to start — No double taxation

It is empowered with legal rights which are usually only reserved for individuals, such as to sue and be sued, own property, hire employees or loan and borrow money.
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Partnerships 合伙制企业 Corporations 公司 Joint Ventures 合资企业 Limited Liability Companies 有限责任公司 Mergers & Acquisitions 企业兼并与收购 Franchises 特许经营
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Additional activities

Do you know the symbols of the following companies and their forms of business ownership?
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Chapter
Forms of Business Ownership
Sole Proprietorship
Forms of Business Ownership
Lead-in activities
How many Chinese and foreign companies can you name? Do you know what forms of business ownership they are? What is your most admired corporation? What company do you wish to work for? Why?
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Chapter
Forms of Business Ownership
Partnerships
A partnership is a legal relationship between persons carrying on a profit-motivated business Each person contributes money, property, labor or skill, and expects to share in the profits and losses of the business.

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Forms of Business Ownership
Lead-in activities

Sample:
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Forms of Business Ownership
Lead-in activities

Sample:
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Chapter
Forms of Business Ownership
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Chapter
Forms of Business Ownership
Partnerships

Questions for discussion — What are the differences between a limited partner and a general partner? — How would you decide whether to team up with someone in a partnership form of business?
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Chapter
Forms of Business Ownership
Sole Proprietorship

Questions for discussion
— Why is the sole proprietorship one of the most popular forms of business ownership? — Why would unlimited liability be considered as one of the biggest drawbacks to sole proprietorships
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Chapter
Forms of Business Ownership
Partnerships: General Partnership

Disadvantages — Unlimited liability for partnership obligations. — Lack of continuity in event of death or disability of one partner. — Sharing of profits. — All profits are taxed as personal income. — Difficult to raise additional capital. — Hard to find suitable partners. — Divided authority (limited decision making).
Partnerships: General Partnership

Advantages — Simple organization. — Additional personal resources (financial and managerial). — The right to select partners. — Low start-up (organizational) costs. — Limited outside regulation. — No double taxation.
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Chapter
Forms of Business Ownership
Partnerships

Two types of partnerships — General partnership — Limited partnership
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Chapter
Forms of Business Ownership
An organization that is owned, and usually managed, by one person is called a sole proprietorship. A sole proprietorship is the oldest and most common type of business. Examples: a virtual assistant working from her/his home, a woodworker selling at craft fairs and a freelance consultant offering his services to local businesses.
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Chapter
Forms of Business Ownership
Partnerships: Limited Partnership

Disadvantages — More complex to organize. — Limited partner has no control over the business. — General partner has unlimited personal liability for the obligations of the business. — Lack of continuity in event of death or disability of the general partner.
1
Chapter
Forms of Business Ownership
Partnerships: Limited Partnership

Disadvantages — More complex to organize. — Limited partner has no control over the business. — General partner has unlimited personal liability for the obligations of the business. — Lack of continuity in event of death or disability of the general partner.
1
Chapter
Forms of Business Ownership
Sole Proprietorship

Disadvantages — Total (unlimited) personal liability. — Limited financial resources (capital). — Lack of continuity as a result of disability or death of owner. — Owner may have limited managerial expertise.