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☆ Problem of Continuity 來自 中國最大的資料庫下載 Corporation ● General Introduction If your business keeps growing and needs huge sums of capital, you may have to choose a different form. To form a corporation, at least three incorporators are needed. All the incorporators are limited liabilities. A corporation is a legal person. 來自 中國最大的資料庫下載 incorporators elect directorate (Board Chairman, CEO) elect president 來自 中國最大的資料庫下載 Advantages ★ Limited Liability ★ Easy to Expand ★ Separated Ownership and Management ★ Continuous Life 來自 中國最大的資料庫下載 Disadvantages ☆ Double Taxation ☆ High Organizing Costs ☆ Lack of Secrecy 來自 中國最大的資料庫下載 A Special Form: Franchising ● Definition Franchising is a licensing agreement, under which the franchisor grants the franchisee the right to sell or use the former’s products, service or method in return for a royalty from the latter. The franchisor also assists 來自 中國最大的資料庫下載 the franchisee in financing, selecting, business site, anizing, training, purchasing, advertising and other management activities. is an agreement/arrangement, whereby a business owner called franchisor, allowed other franchisees to use its trade mark, trade names, or copy rights under specific conditions. 來自 中國最大的資料庫下載 Advantag