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CHARACTERISTICS OF
BUSINESS ORGANIZATION
1
A. LEGAL FORMS OF BUSINESS
ORGANIZATIONS
Sole Proprietorship
Is a one-person business that is perhaps the
easiest and simplest business enterprise to
organize in the Philippines. Legally, a sole
proprietorship is inseparable from its owner as
one and the same.
2
SOLE PROPRIETORSHIP
ADVANTAGES DISADVANTAGAES
Relatively low start-up costs Unlimited liability
4
Limited Partnerships
5
General Partner
7
General Partnership
8
PARTNERSHIP
ADVANTAGES DISADVANTAGES
Ease of formation compared to Unlimited liability
coporations
Relatively low start-up costs Lack of continuity in case a partner
withdraws or dies
Additional sources of investment Dividend authority among partners
capital
Possible tax advantages Difficulty raising additional capital due
to needed consent of all partners
10
CORPORATION
ADVANTAGES DISADVANTAGES
Limited liability Closely regulated and monitored by the
Securities and exchange commission