New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

exam 1 week 2 notes

by: Alicia Condon

exam 1 week 2 notes Business 198

Alicia Condon
GPA 3.6
Introduction to Business
Jeff Lavake

Almost Ready


These notes were just uploaded, and will be ready to view shortly.

Purchase these notes here, or revisit this page.

Either way, we'll remind you when they're ready :)

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

Introduction to Business
Jeff Lavake
Class Notes
25 ?




Popular in Introduction to Business

Popular in Business

This 2 page Class Notes was uploaded by Alicia Condon on Thursday October 8, 2015. The Class Notes belongs to Business 198 at University of Wisconsin - Oshkosh taught by Jeff Lavake in Summer 2015. Since its upload, it has received 89 views. For similar materials see Introduction to Business in Business at University of Wisconsin - Oshkosh.


Reviews for exam 1 week 2 notes


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 10/08/15
Week 2 Exam 1 notes Business Formation the first important decision entrepreneurs make there is no one form that is better than the other Form of ownership affects costs profit distribution taxation liability The big 3 is becoming the big 4 lsole proprietorship 2 partnership 3 corporation 4LLC 1 Sole Proprietorship Advantages easy to start retention of control pride of ownership retention of profit tax advantages Distadvantages limited financial resources 2 individuals unlimited liability limited ability to attract and maintain talented employees lack of performance 60 percent of sales go through corporations 2 Partnership Advantages combined financial resources shared skills and responsibilities ease of formation partnership agreement tax advantages Disadvantages lack of continuity fully liable for whatever partner does General Partnership every partner invests money and manages limited partnership all partners contribute financially and share in the profits but the limited partners dont make management decisions only general partners do Advantage to being a limited partner not liable unlike the general partners 3 Corporations an artificial reality a corporation is a legal entity separate and distinct from its owners corporations are owned by stockholders The Board of Directors is elected by the stockholders to represent their interests The BOD establishes the mission and objectives Chairman of the board most powerful incentive of the BOD to do a good job Advantages of corporations limited liabilityshareholders not responsible only lose the money invested permanencecorps continue on easy to transfer ownership ability to raise capital specialized management Disadvantages expense complexity of formation and operation double taxtionabout 40 percentfrustrates republicans Paperwork and regulation Articles of Encorporation 10000 dollars in attorneys how to start a corp 4 Limited liability company hybrid formation combo of a corp and a partnership Advantages limited liability taxed like a partnershipno double taxation simplified management and operations exible ownsership Disadvantages more complex than a general partnership state laws differ limited to select industries complicated because of money expenses Mergers and Acquisitions mergers2 companies agree to a combo of equals acquisitions when one firm buys another Purpose of Mergers and Acquisitions growth opportunities operational efficiencies competitive advantages 3 types of mergers and acquisitions l hoizontal buying a competitor 2 verticalbuying a suppliersupply chain 3conglomerate merger when a big company buys other companies that does not relate to it at all Objectives of each horizontal increase size and market power and gain efficiency vertical provide tighter integration and increase controll conglomerate heighten companys diversity Franchises Pros and Cons pros less risk training and support brand recognitions access to funding cons high cost lack of control negative halo effect growth challenges restrictions on sale


Buy Material

Are you sure you want to buy this material for

25 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Steve Martinelli UC Los Angeles

"There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Allison Fischer University of Alabama

"I signed up to be an Elite Notetaker with 2 of my sorority sisters this semester. We just posted our notes weekly and were each making over $600 per month. I LOVE StudySoup!"

Jim McGreen Ohio University

"Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."

Parker Thompson 500 Startups

"It's a great way for students to improve their educational experience and it seemed like a product that everybody wants, so all the people participating are winning."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.