Successful Female Entrepreneur
Entrepreneurs like Tatum Sherman know a considerable amount about business. Business as a discipline of study can be quite complex. There are many different subjects, including financing, ownership, and law that all substantially influence the livelihood of a business. Ownership of a business alone has four separate classifications. Below the owner classification “corporation” is explained.
A corporation is a group of people or company that acts as a single entity, and is treated like one person by law. A corporation comes in many different forms, but are usually divided by law into two classifications, whether they can issue stock, and whether they are a profit or non-profit organization.
A corporation that has the ability to issue stock is referred to predictably as a “stock corporation”. Owners of these stocks are referred to as “stockholders”. A stock corporation’s ownership is determined solely by stocks. For example, if ten stock holders have 49% of the stock, and one has 51%, the one person with 51% has the overriding decision-making power.
A “non-stock” corporation determines ownership through a membership system. Non-stock corporations typically have a more democratic approach to decision-making, whereas stock corporations rely solely on the tallied number of stocks. Both kinds of corporations have what is called limited liability. That means a corporation member is only responsible for an amount up to their own investment in the company.
Tatum Sherman has educated herself about business and the laws surrounding it. Her education in the discipline has been necessary in order to grow Resource Referral into the successful business it is today.