AD212 American Business and Management

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"Partnerships and Business, Generally"

Based on your experience with family or friends, what do you think is the biggest advantage to a sole proprietorship? What are the biggest disadvantages?

The hand-out, "Partnerships and Business, Generally," suggests that "a partnership should usually be your last choice" as a way to organize your business." Do you agree? Explain.

Assuming you decide to establish your company as a partnership, how would you choose partners -- that is, what abilities, personal qualities, etc., would you look for in potential partners?

The text says (p.139), "In theory, the stockholders are able to control the activities of the entire corporation through its directors." Why only "in theory" -- aren't the stockholders the owners? Aren't the owners in control?

What are the potential advantages and disadvantages to both parties in a merger/acquisition? Look at two cases: where a large firm acquires a small one, and where two comparably sized firms merge.