Tanisha Revae Miller Business Office Administration UEI College, Gardena. Mod 130 Business Basic, Task 5 Frank Ezenekwe, MBA
Forms of Business Ownership
Sole Proprietorships Sole Proprietorships, is the simplest, oldest, and most common form of business ownership in which only one individual acquires all the benefits and risks of running an enterprise. In a soleproprietorship there is no legal distinction between the assets and liabilities of a business and those of its owner. It is by far the most popular business structure for startups because of its ease of formation, least record keeping, minimal regulatory controls, and avoidance of double taxation
Partnerships type of business organization in which two or more individuals pool money, skills, and other resources, and share profit and loss in accordance with terms of the partnership agreement. In absence of such agreement, a partnership is assumed to exit where the participants in an enterprise agree to share the associated risks and rewards proportionately .
Corporations Firm that meets certain legal requirements to be recognized as having a legal existence, as an entity separate and distinct from its owners. Corporations are owned by their stockholders (shareholders) who share in profits and losses generated through the firm's operations, and have three distinct characteristics (1) Legal existence: a firm can (like a person) buy, sell, own, enter into a contract, and sue other persons and firms, and be sued by them. It can do good and be rewarded, and can commit offence and be punished. (2) Limited liability: a firm and its owners are limited in their liability to the creditors and other obligors only up to the resources of the firm, unless the owners give personal-guaranties. (3)
Continuity of existence: a firm can live beyond the life spans and capacity of its owners, because its ownership can be transferred through a sale or gift of shares.
E- BUSINESS
Netflix is a streaming service that allows our customers to watch a wide variety of awardwinning TV shows, movies, documentaries, and more on thousands of internet-connected devices. With Netflix, you can enjoy unlimited viewing of our content without having to watch a single commercial. Netflix, Inc. is an American over-thetop media service provider. Headquartered in Los Gatos, California. Founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California
And, for the first time in two years, Netflix is raising prices again. The standard plan will go from $9.99 to $10.99 per month and the premium plan will jump from $11.99 to $13.99 per month. The good news is that the basic plan will remain at $7.99, which only offers standard definition video on one screen.
Log in to Netflix.com • Subscribe and choose a plan. • Create an account and fill in the profile information using your email & making a password. • Give your credit card information to keep on file.
The last and final step is to kick back with the family and enjoy a night of movies or one of there top tv series that Netflix has to offer. Better known as
NETFIX & CHILL
A location-based app that makes hiring an on-demand private driver...easy. For riders - Uber is a convenient, inexpensive and safe taxi service. Hire a private driver to pick you up & take you to your destination with the tap of a button on any smartphone device.
Since its launch in 2012, Uber has become the most recognized alternative to traditional taxi cabs. As of September 2018, Uber is available in 633 cities around the world. Whether you're traveling to Seattle, Dubai, Tokyo, London, Paris, Montreal, or Chicago, you can expect Uber rides to be available in those cities and other major metro centers. Uber's success has spawned other, similar services such as Lyft, but Uber remains the most popular.
• First you log on to the website, download the app and subscribe to uber.com • Create your Uber account with your email and making a password then give your credit card information to establish your account .
SQUARE CASH That’s the premise of Square Cash, launching today for all debit card users in the US, using any email service. To use Square Cash, all you do is compose an email to a friend, type the amount you way to pay in the subject title, and cc cash@square.com. If it’s your first time using the service, you’re directed to Square’s website where you type in your debit card number — and you’re done. There are no accounts to create, apps to download, friends to add, surcharges to pay, or bank account numbers to look up.
This is how Square cash work
Square CASH / Bitcoin
This month, the mercantile credit card service Square, Inc. began testing support for bitcoin transactions on its Cash App, available in the iTunes and Android app stores respectively. It appears that only select users have access to the limited release of the service, which enables them to buy, sell, and hold bitcoin. Those granted access to the bitcoin service can visit the "Cash Card" screen on the app and swipe their mobile devices right to see a 24-hour, monthly, or annual chart tracking the bitcoin market price. Balances can be viewed in both BTC and USD, and users are able to generate wallet addresses. Some users have reported that their wallet addresses show balances that are inconsistent with their actual holdings, which indicates Square may be utilizing a pooled wallet to manage user assets. Cash App has yet to integrate features that would allow users to make payments to friends with bitcoin.
Forms of Business Ownership
HOW TO FORM A SOLE PROPRIETORSHIP
Choose a business name
In California a company may use any name that is not the same as or too similar to one another Registered business.
File a Fictitious Business Name Statement with the county recorder
If you use a business name that is different from your legal name, California requires you to file a fictitious Business Name Statement in the county recorder’s office were the business is located .
Obtain licenses, permits and zoning clearance
Your business may need to obtain a variety of licenses and permits depending on it’s business activites.
HOW TO FORM A LIMITED LIABILITY COMPANY AND CORPORATION 1. First name your LLC , be sure to choose a name that complies with state naming requirements and is easily searchable 2. Next choose an Agent of Service of Process 3. Then file the Articles of Organization 4. Initial Statement of Information 5. After that create an Operating Agreement 6. Finally obtain an EIN
HOW TO FORM A CORPORATION 1. Choose an available business name that complies with your states corporation rules. 2. Appoint the initial directors of your corporation . 3. File the formal paperwork, usually called “articles of incorporation”, and pay a filing fee that ranges from $ 100 to $800, depending on the state where you incorporate . 4. Create corporate “by laws”, which lay out the operating rules for your corporation. 5. Hold the first meeting of the board of directors. 6. Issue a stock certificates to the initial owners (shareholders) of the corporation . 7. Obtain any licenses and permits that are required for your business.