What is an initial public offering

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Assignment:

Answer the following questions:

1. If you were starting a business and were choosing a business association, which of the following would be the most important to you: (1) ease of formation; (2) taxation; (3) external liability; or (4) management and control? Please explain why.

2. What do you think is the biggest downside to being a "sole proprietorship"? Please explain why.

3. If you were starting a business with another person would you rather be a "general partnership" or a "limited liability company"? Please explain why.

4. Name a particular business association that has its profits taxed twice.

5. In the Drake Mfg. v. Polyflow case, why was Drake's case dismissed? Please use the specifics from the case in answering the question.

6. What are the differences between a "publicly held corporation" and a "closely held corporation"?

7. Why is Delaware considered the best state to incorporate a business in? Please explain why.

8. What is an "Initial Public Offering"?

9. What are owners of a limited liability company called?

10. Who manages a corporation?

Reference no: EM133369639

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