Business ownership

Enterprise Strategic Cross-Business Ownership Market Strategic... 

Birch Bayh, Democratic senator from Indiana from 1963 to 1981. With Republican senator Robert Dole, he cosponsored the Bayh-Dole Act of 1980 or the University and Small Business Patent Procedures Act, which gave universities and small businesses ownership of patents resulting from projects funded by the federal government. The major drug companies benefited as well They can license new drugs from the universities and small businesses that discovered them. 

Improved value management this process is not about writing business cases but about ensuring that the promised value is actually delivered. Business ownership and business change management also need to be improved. 

Small Business Association (SBA). 2003b. Forms of Business Ownership. Available at www.sba.gov/starting business/legal/fo rms.html. 

About 10 percent of the work force in the United States are self-employed. People choose to own and operate their own businesses for a variety of reasons to advance professionally by becoming a business owner, to earn more money, or to gain status. If you start your own business, you should be well prepared. Talk to business owners about their experiences and read books about business ownership. The United States Small Business Administration reports that over half of all new businesses fail within the first five years, and you do not want to be among them. 

Business ownership opens up a wide range of opportunities that you would not have as an employee. You can form business relationships that can lead to new opportunities, including partnerships. When you meet with others, either natural foods store owners or just people who own their own businesses, you might find you have something that will satisfy someone else s need and they might have something for you. 

Finally, the last question you raised is whether your client or contractor has any requirements under the recordkeeping standard to provide the new contractor the current OSHA 300 Logs for that facility covering those employees who now work for that contractor. Since there was no change of your client s business ownership, he or she needs only to retain the records as per 1904.33 and provide access under 1904.35 and 1904.40. 

The practical, hands-on character of small business ownership, together with the strong involvement of close and extended family will define the perceptions of hazard and risk exposure. For operators of risk-exposed family businesses, safety will be a matter of responsibility to close and extended family. 

Businesses such as consulting firms, manufacturing companies, and constructors, usually use, from a legal perspective, one of three basic forms of business ownership. 

While the introduction presented here will certainly not prepare you for either of the stated applications, it could form the foundation on which you can gradually, by study and observation, build a superstructure of understanding how businesses are organized from a legal perspective. Recognize that variations exist on the three basic forms of form of business ownership. The following descriptions of the sole proprietorship, partnership, and corporation are based, in part, on Clough et al (2005), Halpin (2006), and Walesh (2000). 

From a legal perspective, businesses such as consulting firms, manufacturing companies, and constructors use one of three basic forms of business ownership the sole proprietorship, the partnership, and the corporation. As you move through your career in the private sector, when you are an employee, you may work for all three types of organizations. If you decide to start you own business, various business ownership avenues and scenarios are available. For example, you may begin as a sole proprietorship, then join with others in a partnership, and finally convert to a corporation. 

This exercise will help you, or you and others if a team exercise, think more deeply about the three forms of business ownership described in this chapter. Suggested tasks are ... 

A. Review the scenario described in Chapter 10, Exercise 10.2, Task A. Exercise 14.1 builds on that income statement exercise, the Chapter 10 finance exercise (Exercise 10.3), and the Chapter 11 legal form of business ownership exercise (Exercise 11.6) as part of the overall effort to develop a business plan for your new consulting business. The business plan will now be completed by preparing the marketing element. 

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