Law BB30 4.02

2. Tolerance: The degree of variability in investment returns that an individual is willing to withstand in their business ventures.
3. The power to make decisions regarding the operation and direction of a business.
4. Funds: The initial capital needed to launch a new business.
5. Expenses: Ongoing costs for running a business, such as rent, utilities, and salaries.
7. Influence: The impact that the specific industry has on the operations and regulations of a business.
8. Implications: The effects that business ownership structure has on tax responsibilities and obligations.
10. of Formation: The simplicity or complexity involved in legally establishing a business entity.
11. Liability: A legal structure where an owner's financial responsibility for business debts is limited to their investment in the company.
13. Liability: A situation where the owner is personally responsible for all debts and obligations of the business.

1. Vision: A clear, long-term goal that describes what a business aims to achieve in the future.
2. Sharing: The practice of collaborating with other businesses or entities to utilize resources more efficiently.
6. Rules or laws established by authorities that govern how businesses operate within an industry.
9. Requirements: The total amount of money needed to start and maintain a business.
11. The legal responsibility for debts and obligations incurred by a business.
12. Strategy: A plan for how an owner intends to exit or leave the business, usually involving selling or transferring ownership.