SAYON, AVEGAIL T.

ABM- 1

BUSINESS ETHICS
WEEK 1&2

Learning Task 1.

SOLE PROPRIETORSHIP – The person who contributes capital, and manages

the business is called as sole proprietor. And it is a form of legal organization in
which the owner maintains sole and complete control over the business and is
personally liable for business debt.
PARTNERSHIP - In a Partnership, two or more people share ownership of a
single business. Like proprietorships, the law does not distinguish between the
business and its owners. The partners should have a legal agreement that sets
forth how decisions will be made, profits will be shared, disputes will be
resolved, how future partners will be admitted to the partnership, how partners
can be bought out or what steps will be taken to dissolve the partnership when
needed.
CORPORATION - A corporation is considered by law to be a unique entity,
separate from those who own it. A corporation can be taxed, sued and enter
into contractual agreements. The corporation has a life of its own and does not
dissolve when ownership changes.
LIMITED LIABILITY COMPANY - A limited liability company or LLC is a
hybrid business structure that provides the limited legal liability of a
corporation and the operational flexibility of a partnership or sole
proprietorship. However, the formation is more complex and formal than that
of a general partnership.
COOPERATIVE – A cooperative is an autonomous association of persons who
voluntarily cooperate for their mutual social, economic, and cultural benefit.
And is a voluntary association of individuals with a common objective and
bond of interest.
LEARNING TASK 2:

Form of Business Name of Business Location

Organization
 Sole Etherbytes Computer Shop Blk 13 lot 17 king
Proprietorship fisher st. Capitol Hills,
Brgy. Lapidario 4109
Trece Martire City

 Partnership Garahe Avenue Food Haus Trece Capitol Hills

Executive Subdivision
4109 Trece Martires

 Corporation Buenavista Financing Mariden Bldg. Trece

Corporation Martirez Ave., Brgy.
since 1989 San Agustin Trece
Martires City Cavite.
  Limited BDO, unibank incorporated Road near cor, El
Liability Paseo Arcade, Indang-
Company Trece, Governor's Dr,
Trece, Martires City,
Cavite

 Cooperative AC Multipurpose Cooperative Indang Rd, Trece

Martires, 4109 Cavite

LEARNING TASK 3:
The most established in our community is Sole Proprietorships because it is
easy to establish and there's no limit to the number of people you can hire. And
Sole proprietorship is a popular business form due to its simplicity, ease of
setup, and nominal cost. A sole proprietor need only register his or her name
and secure local licenses, and the sole proprietor is ready for business.