Assignment:
150 words
1. Discuss the forms of business organizations and how to create/terminate them.
2. Discuss the factors to consider when selecting a business's organizational form.
3. Explain a trend and the main reason for boards of directors and shareholders becoming more active in the operations of publicly held corporations.
4. Discuss any of your own experiences as sole proprietors (or partners in a partnership). Feel free to discuss the advantages and disadvantages of this form of business. Try to answer the following situations:
a. Four friends jointly own a summer cottage and use it solely for their personal enjoyment. Is this a partnership? Please explain why or why not?
b. What if the four friends rent the cottage to other people for part of the year?
c. Suppose a renter dies in the cottage due to a gas leak. Would all of the owners be liable? Please explain why or why not?