Week 13- 12-Make a the word “business

and interprise” and each word that

attached to this spider web diagram
about word should have it own meaning
and use under any business program.
What are Limited Liability Companies (LLC) used for in business program:

 It prevents its owners from being held personally responsible for the debts of the
company. If company goes bankrupt or is used , the personal assets of its owner-investors
cannot be pursued.
 It allows all profits to be passed directly to those owners to be taxed as personal income.
 That avoid “double taxation” of both the company and its individual ownwers.
How Does Partnership Work in a Business?

 Some partnership include individuals who work in the business , while other partnership
may include partners who have limited liability for the business’s debts and any lawsuits
filed against it.
 A partnership, as opposed to a corporation, is not a separate entity from the individuals
owners.
 A partnership is similar to a sole proprietor or independent contractor business because
with both of those types of businesses , the business isn’t separate from the owners for
liability purposes.
The use of a corporation in a Business

 Is to conduct a lawful , ethical , profitable , and sustainable business in order to create

value over the long-term , which requires consideration of the stakeholders that are
critical to its success (shareholders, employees, customers, suppliers, creditors and
communities), as determined by the corporation and the board of directors using its
business judgment and with regular engagement with shareholders, who are essential
partners in supporting the corporation’s pursuit of this mission.