Suppose a partnership is set up and operated without a formal partnership agreement. What problems might arise? Explain.
Answer to relevant QuestionsHow do advisory boards differ from boards of directors? Which of the two would you recommend to a small company owner? Why?What may account for the failure of most small companies to use boards of directors as more than rubber stamps? What impact is this likely to have on the business?Is the hometown of the business owner likely to be a good location? Is it logical for an owner to allow personal preferences to influence a decision about business location? Explain your answers.1. How important was the location decision to these two entrepreneurs? Why?2. What types of permits and zoning ordinances did Stengard and Piel need to consider before deciding to relocate?3. How could Stengard and Piel use ...Why aren’t a firm’s cash flows equal to its profits?
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