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LEGAL STRUCTURE, (Shareholders own an enterprise, but the control over it…
LEGAL STRUCTURE
Business continuity is a business's level of readiness to maintain critical functions after an emergency or disruption.
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Limited liability : means that the business owner or owners are only responsible for business debts up to the value of their financial investment in the business
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A separate legal entity
- is when you and anyone involved in your company are separate from your business for legal purposes.*
if someone takes legal action against your business, your personal finances are separate and safe from the legal suit.
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unincorporated company describes a business that has not been legally registered as a business with the relevant state authorities
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Incorporation is the broad term to describe a business registered with a state to become a separate legal entity.
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In an unlimited liability company, the business owners are personally liable for any loss the business makes
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Shareholders own an enterprise, but the control over it belongs to directors and managers.
Divorce between ownership and control typically occurs by large companies with numerous shareholders such as Apple and Amazon.
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