• Living breathing entity that is not human
• It has unlimited life
• Unlimited ownership
• Double taxation - dividends and stockholders get taxed
• Heavly regulations

• Unlimited liability
• Limited life
• Ownership is 1 person
• 1040 Schedule C

• Unlimited liability
• Limited life
• More than 60% of partnerships die and dissolve
• Multiple owners
• 1040 K1
• Most partnerships fail b/c they usually don't have a pertenrship agreement
• Limited partnerships need their agreement in writing

The common stockholder has 4 rights

1. Right to vote
2. Rights to receive dividends if declared
3. Right to receive assets upon liquidation
4. Pre-emptive right/ or right of first refusal (most common stockholders refuse to buy another 10% of stock because it is usually at a higher price.)

Preferred stock owners can't vote but they have two rights:

1. The right to receive dividends before common stockholders
2. The right to receive assets upon liquidations before common stockholders

1. Cumulative Preferred
2. Convertible Preferred
3. Participating Preferred

A cash distribution of earnings by a corporation to its shareholders

3 important dates

1. Declaration date
2. Record date (who's going to get the dividend)
3. Payment date (usually April 15)

Zero risk, never had a default.

US bonds are the standard by which all other risks of bonds are judges by.

1. Cumulative
2. Redeemable
3. Callable
4. Convertible
5. Serial

A company buys back it's own stock

characteristics:

1. Can't vote
2. Can't receive dividends

1. To make money
2. To give the shared back to the employees as bonuses
3. To sell to their employees
4. To manipulate the market

1. Daclaration date
2. Record date (who's going to get the dividend)
3. Payment date (usually April 15)