Identifies the Impact of Potential Change Factors Including the Role of Technology

BUSN105-1203B-275 Introduction to Business
Assignment Name: Unit 5 Individual Project
Professor : Nichole Anderson Harris
Student:   Luis Rafael Zeledon

Describes the organization’s
As a review of the scenario 1   there are three types of business the sole proprietorship, Business with partnerships   and a bigger organization of business called   the Corporation.
Let's review the brief meaning of these important topics of the known classification of business
Sole Proprietorship:
Is a Business that is going to be run by a person with the Idea   of an inventor Which he thinks the proposed product,his Invention will succeed .But the   problem in this case   is that he or she does not have the   right funding ,the Management Experience,The Investors Knowledge to back up his product.. His economy also does not help his situation and the only way to get started is to start   getting   the right advice   for his   Idea to be Funded and to be supported properly .

Basic Legal Environment of a Business:

“The laws that govern businesses are formulated within state statutes; there are no federal laws regulating the formation of businesses. Typically a business will organize under the laws of the state in which its main office is located. A business can, however, organize under any state of its choice, and must abide by the laws of whatever state they choose to incorporate under. Most laws are fairly uniform from state to state, with minor variations in processing procedures. The Small Business Administration (SBA) has outlined basic protocols for establishing a business that has been incorporated by virtually every state in the union.”

Read more: Legal Aspects of Setting Up a Business |

“A business operates within a legal framework that, for the most part, works. This legal...