McCain Foods Limited

closed corporation there are countless advantages. ii. There is separate legal identity meaning the corporation can sue in it’s own name or buy, own and use it’s own real/personal property. iii. There is asset protection meaning the company has limited liability and whoever does business with the corporation must satisfy any obligations owed to them. iv. There is perpetual existence meaning if the owner of the sole proprietorship dies the business will not cease to exist. Once the corporation…

classified into three types firstly manufacturing raw materials, secondly producing finished goods and thirdly providing business services such as British Airways.BA which was a state undertaking previously, which was later converted to a company with limited liability(whose shares are listed in the share market) after privatisation in…

Noor Rizwan Sole proprietorship . A sole proprietorship is a form of business where there is only one owner, and there is no legal distinction between the business and the owner. Let's look at what operating as a sole proprietor means for Beth. Advantages of Sole Proprietorship Operating as a sole proprietor offers some distinct advantages for Beth. It's a pretty simple and easy type of business organization to manage. As we mentioned earlier, there is no legal distinction between her and…

Our first #AskVic question is, can a member of a LLC receive a salary for their services? A Limited Liability Company (LLC) is an entity type that is formed at the State level. If the LLC only has one member, then it is called a single member LLC (SMLLC), which is a "disregarded enity," meaning that the Internal Revenue Service (IRS) does not recognize it as a separate entity, and the member would need to file a Schedule C on their personal tax return to report the income and expense activity…

1. The name cannot be the same as an existing LLC in your state.1 2. The name must specify that your organization is an LLC (ex: "LLC" or Limited Company").1 3. The name cannot contain words prohibited by your state (ex: "bank" or "insurance").1 B. What state licenses & permits are needed & which state agencies do you need to register with? 1. File Articles of Organization with the South Carolina Secretary of State’s Office.2 2. Register with the South Carolina Department of Revenue (SCDOR) for…

partnerships, limited partnerships, and limited liability partnerships. (Kluwer) A general partnership is when two or more people are in a business for profit. Limited partnership also known as a "silent partner" is two or more people in a business, but one is only financially involved. Finally in a limited liability partnership out of the partners, one of the partners is not responsible for any actions taken by other partners. (staff) If Jim from the first story would have been part of a…

2.1 DEFINITION Coyle (2000) defined Mergers and Acquisition (M&A) occur when two or more companies joint together all or part of their operations. The differences between mergers and acquisition relate mainly to the relative size, management control and ownership of the combined business. Mergers is defined as two separate companies pooling their resources into a single entity and become common shareholders. The shareholders of pre-merger companies have a shared in the ownership of the merged…

promotion or advertisement for the product itself is very important because a new invention will require spotlight to make it shine in the market. For example, KFC is a well-known fast-food brand in the 21st century. They have used the procedure of price and promotion in order to gain their reputation within the fast-food industry. However, they didn’t follow their product rules well enough in order to maintain in the market. As a result, their business is falling into an area where they are…

The business form the best fits Shania’s situation is a limited liability company. According to sba.gov, “a limited liability company is a hybrid type of legal structure that provides the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership” (para. 1). The funding for Shania’s business venture is provided by her…

BCS/CD-700 Michigan Limited Liability Company Form Form BCS/CD-700 Michigan Limited Liability Company carries articles necessary for the formation of Limited Liability Company in the Michigan State. The form has 5 articles governing various features. Filing duly completed form with the Bureau of Commercial Services is necessary for its execution. However, it attracts filing fees of $50. Expedited review and filing facilities are available at higher filing fees. The document is stored…