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Avery Parsons Man 1030-Week 3 Professor Nathan Riggs Nov. 4,2012 Please define each of these foursome forms of air self-will and then respond to the following questions (1) Sole Proprietorship- A line of merchandise that is owned and usu wholey managed by one person it is the virtually common form. (2) Partnership- A legal form of business with two or more owners. (3) Corporation- Is a legal entity with authority to take a shit liability go to pieces from its owners. 4) Franchisors-Owns the overall rights and trademarks of the company and allows its franchises to use these rights and trademarks to do business. The entity or person owning the rights or license of the business. Do you think that transonic would reserve grown as large as it did today if had remained a Sole Proprietorship? why or Why not ? In my opinion , I would ordinate no due to the fact that it would have caused the dis reinforcement of limit growth, restrain reasons and unlimited liability.In terms of part nership it would bring about conflicts with a partner, department of profits, difficulty termination and unlimited liability. As a corporation , they would have encountered limited liability, the ability to raise more money investments, ease of ownership change and the ease of separating of owner from management. What were the advantages and disadvantages to Sonic each form of business Ownership?The advantages are they have the ability to have as numerous Sonic Restaurants all over the world, personal ownership, lower failure judge and management marking assistance compared to someone who begin a business from scratch. The disadvantages are that they have large start-up costs, shared profits, management regulations and coattail effect. Another advantage would be having a unified voice to protect their investments. Sonic has survived and continues to be successful, not only by maintaining a strong fast victuals presence throughout the years as drive in.While other custody have g one under one by one. There have been lots of drive in and fast nourishment restaurants over time. In your opinion what makes Sonic and other major successful than others? The quality food they serve. The nostalgia of this old time tradition or the novelty of it, depending upon the age of the customers it provides an resistless attraction to a wide variety of clientele, making sonic potentially a very profitable franchise option. In closing ,Sonic restaurants free are no. through various changes and innovations made rather recently, Sonic Drive in has been able to expand its number of store locations within the past decade. Today there are nearly 3,000 Store locations all across the nation ,and the company boasts market capitalization that exceeds 1. 5 billion. References nurture activities 1 and 2 Learning video Sonic is Booming taste Business McGraw & Hill Chapter 1 pgs. 8-11 Chapter 5 How to form a business-pgs. 114-145