Saturday, June 19, 2010

meaning of business

A commercial activity engaged in as a means of livelihood or profit, or an entity which engages in such activities.

A business (company, enterprise or firm) is a legally recognized organization designed to provide goods or services, or both, to consumers, businesses and governmental entities.[1] Businesses are predominant in capitalist economies. Most businesses are privately owned. A business is typically formed to earn profit that will increase the wealth of its owners and grow the business itself. The owners and operators of a business have as one of their main objectives the receipt or generation of a financial return in exchange for work and acceptance of risk. Notable exceptions include cooperative enterprises and state-owned enterprises. Businesses can also be formed not-for-profit or be state-owned.

The etymology of "business" relates to the state of being busy either as an individual or society as a whole, doing commercially viable and profitable work. The term "business" has at least three usages, depending on the scope — the singular usage (above) to mean a particular company or corporation, the generalized usage to refer to a particular market sector, such as "the music business" and compound forms such as agribusiness, or the broadest meaning to include all activity by the community of suppliers of goods and services. However, the exact definition of business, like much else in the philosophy of business, is a matter of debate and complexity of meanings.

a business entity that consists of General and Limited Partners. The General Partner manages the business and assumes unlimited liability for the organization's legal debts and obligations. Meanwhile, the Limited Partner has no management authority or participation in the business' day-to-day operations, and his or her liability is limited to the amount of investment.

In the past, Limited Partnerships (LPs) were organized primarily for real estate ventures and businesses involved in the oil and gas industry. However, their use has now spread into a host of other business lines, including equipment leasing and movie & theater productions. Since 1974, over $100 billion has been invested in LPs.


Public Limited Partnership:
If a Limited Partnership has registered with the Securities and Exchange Commission (SEC) and trades on an exchange, then it is considered to be "publicly traded."

Unlisted, Non Exchange Traded Limited Partnership:
If a Limited Partnership has filed a registration statement with the Securities and Exchange Commission, currently files periodic reports (such as the 10k, 10q reports), but does not trade on an exchange, then the security is a "Public Reporting" company, rather than a "Publicly Traded" one.

Private Company:
A privately held Limited Partnership is not subject to public disclosure and is not traded on a public market.

If you run a small business, you've got a lot to think
about: Cash flow, competition, customer loyalty...the list goes on and on. And, if you're like most small-business owners, you work a lot longer than a "forty-hour" week. So, you may not have had the time to think about setting up a retirement plan for yourself and any employees you may have. But you should make the time - because a comfortable retirement is worth planning for.

Fortunately, it's a great time for small-business owners to choose a good, cost-efficient retirement plan. In recent years, new tax laws have made it easier for you to pick a plan that can help you save for retirement and, if necessary, attract and retain quality employees

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