Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download Proprietorship: A business owned and managed
Document related concepts
Control (management) wikipedia , lookup
Resource-based view wikipedia , lookup
Joint venture wikipedia , lookup
Partnership wikipedia , lookup
First-mover advantage wikipedia , lookup
Foreign market entry modes wikipedia , lookup
Theory of the firm wikipedia , lookup
Business ownership within England and Wales wikipedia , lookup
Transcript
Proprietorship: A business owned and managed by a single individual. Example: A local dry cleaning store Advantages: Owner earns all of firm's profits, easy to start-up, relatively few regulations, full control, easy to discontinue Disadvantages: Owner is responsible for all of firm's debt, unlimited personal liability (legally bound obligation to pay debts), and lack of permanence (if the owner dies, the business is over).
