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Chris Develops His Company Plan Alone

question 66

Essay

Chris develops his company plan alone.He is now ready to launch and is looking for a founding team.Since his business is in petrochemicals,he assumes that the best team will be from his former university classmates who studied the subject with him.Discuss the pros and cons of Chris's assumptions.


Definitions:

Franchise Taxes

Taxes levied on businesses for the privilege of operating as a corporation or LLC within a particular state.

Registered Agent

A person or company designated to receive official legal and tax documents on behalf of a business entity.

Surviving Corporation

The corporation that remains after a merger, having absorbed another corporation and retained its rights, privileges, and liabilities.

Total Assets

The sum of all current and non-current assets owned by an individual or company, reflecting the total resources or value that the entity controls.

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