Randy has to get a loan to keep the company running. Randy should specify which portion of the organization the loan belongs to in his business plan.
What is corporation?
- Legally speaking, a company is a distinct entity from its owners. Many of the legal rights and duties that apply to people also apply to businesses.
- Constrained duty, which implies that the company's owners are not truly responsible for its obligations, is a crucial component of a corporation.
- An individual or group of people with a common goal might start a business. That excludes consistently reaping an advantage.
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