5. Business Organization – Business Structures

Questions for Discussion

  1. What are the costs and benefits involved in starting a sole proprietorship?
  2. What does “unlimited personal liability” mean in practice?
  3. Why is it necessary—or at least useful—to have tests to determine whether a partnership exists?
  4. What is the “fiduciary duty,” and why is it imposed on some partners’ actions with the partnership?
  5. What are some advantages of a corporation business structure? What are some disadvantages?

License

Icon for the Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License

Business Law and Ethics Canadian Edition Copyright © 2023 by Craig Ervine is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.

Share This Book