Through an accident you discovered that the farm that you own sits on a major oil field.You have decided that you want to tap this resource but know that you don’t have the equipment or the know-how to drill for oil. After studying business, you have determined that you should form either a joint venture or a syndicate. Briefly describe these two forms of business, and explain their differences.
What will be an ideal response?
A joint venture occurs when individuals or businesses join together to accomplish a specific purpose, or to complete a single transaction. The liabilities of the parties to a joint venture are similar to that of a partnership. After the purpose, or transaction, is completed the joint venture is dissolved. A syndicate is very similar to a joint venture, but a syndicate need not be dissolved after the transaction is completed. In fact the members of a syndicate can sell their ownership interests as they choose.
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A. procedure B. software C. data D. hardware E. memory
The SEC concluded in the Jett decision:
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A. focus group studies. B. problem detection research. C. verification research. D. brainstorming. E. general preplanning input.