About This Chapter
Business Structures & Barriers to Entry - Chapter Summary
If you're looking to gain greater insight into business structures and barriers to entry, this chapter can help! Lessons provide an in-depth exploration of topics that include sole proprietorship, types of corporations and the private limited company. Review one, two or any number of lessons in any sequence that suits your current and desired knowledge of these topics. Upon completion of this chapter, you will be ready to:
- List the forms of ownership for different organizational structures
- Define and discuss the advantages and disadvantages of sole proprietorship
- Discuss the basics of partnerships and LLCs
- Identify the types, advantages and disadvantages of corporations
- Describe double taxation and limited liability as they relate to corporations
- Share the advantages and disadvantages of the wholly owned subsidiary and private limited company
- Explain the basics of mergers and acquisitions in corporate expansion
- Detail the opportunities and challenges of franchises
- Showcase your knowledge of types of barriers to entry in economics
1. Organizational Structure & Ownership of a Business
There are four ways a business can be organized: sole proprietorship, partnership, limited liability, and corporation. Each form of ownership takes on a different structure with regards to tax liabilities, income, and risks.
2. What is a Sole Proprietorship? - Definition, Advantages, Disadvantages & Examples
Many businesses start out as sole proprietorships. In this lesson, you'll learn what a sole proprietorship is and its advantages and disadvantages. You'll also have a chance to reinforce your knowledge with a short quiz.
3. The Basics of Partnerships: Types & Examples
Partnerships are a common way to organize a business in the United States. In this lesson, you'll learn about different types of business partnerships and their respective advantages and disadvantages. A short quiz follows the lesson.
4. The Basics of LLCs: Limited Liability Companies
The limited liability company is one of the most popular business organizational forms for small and medium-sized businesses. In this lesson, you'll learn about the key characteristics of a limited liability company. A short quiz follows.
5. Corporations: Types, Advantages, Disadvantages & Examples
Corporations are a popular form of business organization for large and small businesses. In this lesson, you'll learn about the advantages and disadvantages of a corporation. You'll also learn about S-corporations and C-corporations.
6. Tax Structure and Liability of Corporations
A corporation is a complex business structure with unique characteristics pertaining to taxation and liability. The advantages of a corporation are subject to certain rules. This lesson explains double taxation, limited liability and piercing the corporate veil.
7. Wholly Owned Subsidiary: Definition, Advantages & Disadvantages
It's not unusual for one company to own another company. In this lesson, you'll learn about wholly owned subsidiaries, including their advantages and disadvantages. You'll also have a chance to take a short quiz after the lesson.
8. What Is a Private Limited Company? - Definition, Advantages & Disadvantages
A private limited company is one type of business structure. In this lesson, you will learn what a private limited company is and explore some of its advantages and disadvantages.
9. Corporate Expansion: Mergers and Acquisitions
Corporations can grow in two different ways: through expansion of their current business or through mergers and acquisitions. In this lesson, you'll learn about mergers and acquisitions. A short quiz follows.
10. Franchises: Opportunities and Challenges
Franchises offer a way for a person to start a proven business. In this lesson, you'll learn about franchises, including their advantages and disadvantages. You'll also learn about diversity and global challenges in franchising.
11. Barriers to Entry in Economics: Definition, Types & Examples
Economic barriers to entry are part of the reason some companies thrive and others fail. Learn what barriers to entry are and why they are so important to understand before entering a specific business or market. Read about some current-day examples.
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Other chapters within the Economics 101: Principles of Microeconomics course
- Introduction to Microeconomics
- Supply and Demand in Microeconomics
- Consumer Behavior & Microeconomics
- Producers in Microeconomics
- Accounting & Economic Costs
- Market Structures in Economics
- Scarce Economic Resource Markets
- Business Technology, Research & Development
- Government Issues in Microeconomics
- Studying for Economics 101