FUHRMS: Forms of Businesses I

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Risk of conflict between owners.

Have the expertise of only the owner to call on.

Shared profits between owners and ownership shares NOT easily transferred.

Easy transfer of ownership.

Higher Taxes and start up costs.

A legal entity owned by individual stockholders.

A business organization owned by two or more persons who agree on a specific division of responsibilities and profits.

The business has the promise of only one owner to use to try to secure money from investors or lenders.