Bus/415 Legal Issues Final Research Project Paper

Business Entities and the Impact of E-Business on the Global Legal Environment

Business entities be an nonionised group of people who come together for a gainful or charitable purpose. In todays business world, there are a number of ways in which to legitimately drum and structure a business. Care unspoiledy choosing and creating the correct legal entity result ultimately have a huge impact on the success and profitability of the business venture. The basic causes of business organizations accept mend proprietorship, general partnership, limited partnership, corporation, and [the] limited liability smart set (Cheeseman, 2004, 605). Learning Team C will examine and dispute three of these business entities.

Various Business Entities and E-Business Examples

Sole Proprietorship

The most straightforward type of business entity, sole proprietorships, are owned and managed by 1 person as his or her personal property and wherefore considered one legal entity. This entity is operated under the persons own name or registered under an assumed or trade name besides known as Doing Business As (DBA) (Cheeseman, 2004, 607). When creating a sole proprietorship there are no formalities and no federal or state approval needed from the government. in operation(p) costs are also low and the proprietor preempt run the business from whatsoeverwhere. The only requirement may be from a local government level to obtain a business license.

Personal liability of sole proprietorship

As a sole proprietor, any number of employees can be hired, with their paid wages and different business expenses deducted on the owners personal tax return. Consequently, the owner is accountable for business profits and losses, which means that should the business fail, creditors can legally go after the owners personal assets (Barnes, Dworkin, & Richards, 2006, 450). In addition, the owner of the business cannot sell shares of the business to gain outside funds. at that place are no specific...

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