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Businesses And The Business Type They Fall Into

Businesses and the Business Type They Fall Into

Introduction:
Businesses come in all shapes and sizes, from the largest of the larges, to as small as one person working from a home computer. In order to keep up with the ever changing times and technologies businesses need to stay sharp and play true to the type of business they are and what their strengths are. In this particular paper I will discuss 6 different businesses and what type of category they fall into. These businesses are; Riordan Manufacturing, Huffman Trucking, Kudler Fine Foods, McBride Financial Services, The Elias Group, and Smith Systems Consulting. When researching these groups I found it a little difficult to classify each one, as many had similar qualities. However, I did some up with a grouping for each one and will discuss them below.
Riordan Manufacturing Inc.
Riordan was the first company I examined and right away based on the information I had read I was able to distinguish it as a corporation. The first clue was the Incorporated at the end of the name; all corporations list that as part of their legal name. Secondly Riordan was owned by a separate corporation named Riordan Industries. It is a very large company compared to the rest with large profits, and it has a lot of available information. While the ideas behind it were started by the same man that it is named for, it is not a sole proprietorship based on this description from www.alcoinc.com: This is the simplest and the most widely used structure for business. It is the least regulated type of the various business structures. For tax and legal purposes the business is the owner. The unlimited liability factor is probably the greatest disadvantage. The liabilities of the business are personal to the owner and the business ceases to exist when the owner dies. (Alco, 1995-2007)
Huffman Trucking
To me Huffman clearly is a sole proprietorship. It has the name of the owner right in it, there are no other...