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來自 中國最大的資料庫下載 Fundamentals of Business by Yin Feng 來自 中國最大的資料庫下載 Lecture 1 Setting Up a Business 來自 中國最大的資料庫下載 When asked what they want to do in the future, most aspiring students of business would answer, “set up a business and be my own boss.” What, then, are the major forms of business in a market economy? There are four, namely, Sole proprietorship, Partnership, corporation and franchising. 來自 中國最大的資料庫下載 Sole Proprietorship ● Definition A sole proprietorship is a business owned and controlled by one person. 來自 中國最大的資料庫下載 Advantages ★ Simple to Establish ★ Freer in DecisionMaking ★ Easy to Keep Operational and Financial Secrecy ★ Less Tax Burden ★ Exclusive Use of Profits 來自 中國最大的資料庫下載 Disadvantages ☆ Unlimited Liability ☆ Limited Access to Capital ☆ Limited Managerial Expertise 來自 中國最大的資料庫下載 Partnership ● Definition A partnership is an association of two or more persons to carry on as coworkers of a business for profit. (By the US Uniform Partnership Act.) 來自 中國最大的資料庫下載 Advantages ★ Improved Access to Capital and Credit ★ Greater Possibility for Good Management ★ Definite Legal framework ★ Better Prospects for Growth 來自 中國最大的資料庫下載 Disadvantages ☆ Unlimited Liability ☆ Internal Conflicts