Business Organization Essay
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In 2005 my aunt left me an inheritance. It was a large sum of money. There was a stipulation to receiving this gift. I needed to invest in a company of my choice. My last employer was a cleaning company and I approached my old employer with a proposition. I and another business partner that I convinced in investing with me would organize a joint-stock company. This was to be a private partnership, as well as a limited partnership. So I approached him with this idea and he agreed.
So after several negotiations the other investor and I devoted the majority of shares to this company. We received a registrar of completion certificate for this joint company venture and we expected our common seal to come next.
We also had to increase the liability insurance before registering with state authorities as a Limited Liability company (LLC). With this Partnership all investing parties agreed that there would be a semi-annual information report to look at income deductions and any gains or losses that the company might occur.
This is to insure mutual interests and success.
The semiannual meetings would also indemnify any problems or debatable issues. It is now 2010 and the company has developed into a four person joint stock company, opening three more cleaning offices and we are in the process of franchising. In 2000 I had a dream and that was to open a gym called Anytime Fitness. Well, this dream was put on hold when I invested in other enterprises. So, I talked to my wife and she agreed to help me open up this fitness facility and she would have sole proprietorship and I would be a silent partner. I give thanks in my prayer to my aunt who gave me this opportunity.