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1、Forms of Business OwnershipChapter1商务英语入门第一章_外教社修订版 Four short words sum up what has lifted most successful Four short words sum up what has lifted most successful individuals above the crowd: a little bit more. individuals above the crowd: a little bit more. -author -author -date-date精品ppt文档收集于网络，仅
2、供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Forms of Business OwnershipLecture Outlinel Sole Proprietorships 个人企业l Partnerships 合伙制企业l Corporations 公司l Joint Ventures 合资企业l Limited Liability Companies 有限责任公司l Mergers & Acquisitions 企业兼并与收购l Franchises 特许经营精品ppt文档收集于网络，仅供学习交流,如有侵权请联系
3、管理员删除Forms of Business OwnershipChapter1Chapter1Forms of Business OwnershipLead-in activitieslHow many Chinese and foreign companies can you name? lDo you know what forms of business ownership they are?lWhat is your most admired corporation? lWhat company do you wish to work for? Why?精品ppt文档收集于网络，仅供
4、学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Forms of Business OwnershipLead-in activitieslSample:精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Forms of Business OwnershipLead-in activitieslSample:精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business Ownership
5、Chapter1Chapter1Forms of Business OwnershipAdditional activitieslDo you know the symbols of the following companies and their forms of business ownership? 精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Forms of Business OwnershipSole Proprietorship l An organization that
6、is owned, and usually managed, by one person is called a sole proprietorship.l A sole proprietorship is the oldest and most common type of business.l Examples: a virtual assistant working from her/his home, a woodworker selling at craft fairs and a freelance consultant offering his services to local
7、 businesses.精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Forms of Business OwnershipSole Proprietorship l Advantages Owner in direct control (you are your own boss). Keeping the profits from the business The easiest form of business to start No double taxationDOUBLE TAX
8、ATIONThe imposition of two or more taxes on the same income (in the case of income taxes), asset (in the case of capital taxes), or financial transaction (in the case of sales taxes)精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Forms of Business OwnershipSole Proprietors
9、hip l Disadvantages Total (unlimited) personal liability. Limited financial resources (capital). Lack of continuity as a result of disability or death of owner. Owner may have limited managerial expertise. 精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Forms of Business O
10、wnership1 Why is the sole proprietorship one of the most popular forms of business ownership? Why would unlimited liability be considered as one of the biggest drawbacks to sole proprietorshipsSole Proprietorship l Questions for discussion精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipCh
11、apter1Chapter1Forms of Business OwnershipPartnershipsl A partnership is a legal relationship between persons carrying on a profit-motivated businesslEach person contributes money, property, labor or skill, and expects to share in the profits and losses of the business.精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删
12、除Forms of Business OwnershipChapter1Chapter1Forms of Business OwnershipPartnershipsl Three key elements common ownership shared profits and losses the right to participate in managing the operations of business 精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Forms of Busin
13、ess OwnershipPartnershipsl Two types of partnerships General partnership Limited partnership 精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Forms of Business OwnershipPartnerships: General Partnershipl Advantages Simple organization. Additional personal resources (financi
14、al and managerial). The right to select partners. Low start-up (organizational) costs. Limited outside regulation. No double taxation. 精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Forms of Business OwnershipPartnerships: General Partnershipl Disadvantages Unlimited liab
15、ility for partnership obligations. Lack of continuity in event of death or disability of one partner. Sharing of profits. All profits are taxed as personal income. Difficult to raise additional capital. Hard to find suitable partners. Divided authority (limited decision making). 精品ppt文档收集于网络，仅供学习交流,
16、如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Forms of Business OwnershipPartnerships: Limited Partnershipl Advantages General partner maintains control of the business. Limited partner can invest with a limit on personal liability. Easy way to secure capital. Business not taxed directly. 精
17、品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Forms of Business Ownership1Partnerships: Limited Partnershipl Disadvantages More complex to organize. Limited partner has no control over the business. General partner has unlimited personal liability for the obligations of t
18、he business. Lack of continuity in event of death or disability of the general partner. 精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Forms of Business OwnershipPartnerships: Limited Partnershipl Disadvantages More complex to organize. Limited partner has no control over
19、 the business. General partner has unlimited personal liability for the obligations of the business. Lack of continuity in event of death or disability of the general partner. 精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Forms of Business OwnershipPartnershipsl Question
20、s for discussion What are the differences between a limited partner and a general partner? How would you decide whether to team up with someone in a partnership form of business?精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Corporations lIt is empowered with legal rights
21、 which are usually only reserved for individuals, such as to sue and be sued, own property, hire employees or loan and borrow money.lThe corporation is a legal entity, allowed by legislation, which permits a group of people, as shareholders (for-profit companies) or members (non-profit companies), t
22、o create an organization, which can then focus on pursuing set objectives.精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Corporations lTypes of CorporationType Description Private Attempts to earn a satisfactory profit.Public Owned and run by the government.Closed Stock h
23、eld by only a few owners and not actively sold on the stock market.OpenStock held by numerous people and actively sold on the stock market.Municipal Cities and townships that carry out business.Domestic Incorporated in one province or country and doing business within that province or country.精品ppt文
24、档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Corporations lTypes of CorporationType Description Foreign Incorporated in one province or country and doing business in another province or country.Alien Incorporated in one nation and operation in another nation.Nonprofit Service
25、 organization incorporated for limited-liability status.精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Corporations lAdvantagesLimited personal liability: means that the owners of a business are responsible for losses only up to the amount they invest Skilled management t
26、eam: Professional managers are trained and experienced career executives. 精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Corporations lAdvantagesTransfer ownership: Shareholders have the right to sell their shares of a corporations stock to whomever they pleaseGreater cap
27、ital base: The corporate form of business makes it easier for a business to grow and expand. Through the issuance of shares, corporations may be able to access the money they will need for expansion.Stability: A Corporation has an unlimited life.精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business Owne
28、rshipChapter1Chapter1Corporations a sole proprietorship or partnership: if an owner should die, all of his business assets may require probate in order to be passed on to his or her heirs or devisees. corporation or Limited Liability Companies (LLC): shares of stock (or membership interests in the L
29、LC) can be issued to family members or other owners to clearly delineate their ownership interests in the business. Additional InfolTransfer of business interests to succeeding generations:精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Corporations lDisadvantagesDouble ta
30、xation: The corporation has to pay taxes on its profits. The shareholders must also pay income tax on the dividends they receive through ownership.the imposition of two or more taxes on the same income (in the case of income taxes), asset (in the case of capital taxes), or financial transaction (in
31、the case of sales taxes). Additional InfolDouble taxation精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Corporations lDisadvantages Government involvement: Provincial and state Governments have the right by law to exercise certain controls on, and to require corporations
32、to maintain proper corporate records. Lack of secrecy: A corporation must provide each shareholder with an annual report. The reports present data on sales volume, profit, total assets, and other financial matters.精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Corporation
33、s lDisadvantages Lack of personal interest: In most corporations, management and ownership are separate. This separation can result in a lack of personal interest in the success of the corporation. Credit limitations: If a corporation fails, its creditors can look only to the assets of the business
34、to satisfy claims. 精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Corporations lDisadvantages Lack of personal interest: In most corporations, management and ownership are separate. This separation can result in a lack of personal interest in the success of the corporatio
35、n. Credit limitations: If a corporation fails, its creditors can look only to the assets of the business to satisfy claims. 精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Corporations Corporations: have an easier time obtaining financing than a sole proprietorship; have s
36、everal people making management decisions, and the entity continues in the event of illness or the death of one of the partners;can raise money through stock offerings. Additional InfolDifferences With Sole Proprietorships:精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Co
37、rporations Sole proprietorship:a lender is entirely dependent on the business owners ability to repay the loan with his own labor. cant sell stock to raise funds for equipment or expansion. Additional InfolDifferences With Sole Proprietorships:精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business Owners
38、hipChapter1Chapter1Corporations Whats the difference between an open and a closed corporation?Why do most young people prefer to work for a large corporation?lQuestions for Discussion:精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Joint Ventures lA joint venture (JV) is t
39、he pooling of resources and expertise by two or more businesses, typically from different areas or countries to achieve a particular goal. The risks and rewards of the enterprise are also shared. lPartnerships occur when two or more entities decide to work together in a business. 精品ppt文档收集于网络，仅供学习交流
40、,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Joint Ventures business expansion development of new products moving into new markets, particularly overseas.lReasons behind the formation of a joint venture:精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Joint Ventu
41、res access to new markets and distribution networks; increased capacity; the sharing of risks with a partner; access to specialized staff and technology. lAdvantages:精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Joint Ventures If the objectives of the venture are not 100
42、 per cent clear, or not communicated to all the staff involved, problems are likely to arise. There is an imbalance in levels of expertise, investment, or assets brought into the venture by the different partners. lDisadvantages:精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chap
43、ter1Joint Ventures Different cultures and management styles result in poor integration and cooperation between the partners. The parent businesses dont provide sufficient leadership and support in the early stages. lDisadvantages:精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Cha
44、pter1Joint Ventures Additional Info精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Joint Ventures Additional Info精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Joint Ventures Additional Info精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business Owner
45、shipChapter1Chapter1Joint Ventures What ownership is a joint venture similar to? Why?What are the advantages of a joint venture?lQuestions for Discussion:精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Limited Liability Companies lA Limited Liability Company (LLC) is a typ
46、e of business ownership combining several features of corporation and partnership structures.lIt is designed to provide the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership. lIts formation is more complex and formal than that of a gene
47、ral partnership.精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Limited Liability Companies lLike a corporation, the owners (called members) of the LLC are not personally responsible for the debts of the LLC. lLike a partnership, there is no dual taxation and the earnings
48、of the business are taxed directly to the members.精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Limited Liability Companies lAdvantagesLimited liability: Members cannot be held personally liable for debts unless they have signed a personal guarantee. Flexible profit dist
49、ribution: Limited liability companies can select varying forms of distribution of profits. 精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Limited Liability Companies lAdvantagesNo minutes: The LLC business structure requires no corporate minutes or resolutions and is easi
50、er to operate. No double taxation: All your business losses, profits, and expenses flow through the company to the individual members. You avoid the double taxation of paying corporate tax and individual tax. 精品ppt文档收集于网络，仅供学习交流,如有侵权请联系管理员删除Forms of Business OwnershipChapter1Chapter1Limited Liabilit