Business Administration in the United States

Overview by Globlatrade.net:

Setting Up a Company

Legal Business Entities

Types of Companies and Capital (Max/Min) Number of Partners/Shareholders and Liability Registration Fees
A sole proprietorship
 
 
No minimum legal capital.
1 person
 
 
The owner is liable for the company's debt
Company name and statutes registration: USD 275; Publication certificate: USD 50.
A General Partnership
 
 
No minimum legal capital.
At least 2 partners.
 
 
The General Partner is personally liable, with no limitation, for the company's debts and obligations.
Company name and statutes registration: USD 275; Publication certificate: USD 50.
Limited Partnership
 
 
No minimum legal capital
In addition of general partners there is one or more limited partners
 
 
The General Partner is personally liable, with no limitation, for the company's debts and obligations
Company name and statutes registration: USD 275; Publication certificate: USD 50.
Limited Liability Partnership
 
 
No minimum legal capita
At least 2 partners
 
 
All partners have a form of limited liability
Company name and statutes registration: USD 275; Publication certificate: USD 50.
A Public Limited Company (PLC)
 
 
No minimum legal capital.
At least 2 partners.
 
 
At least 1 of the partners is liable for the company's debt and obligations. The other partners' liability is limited to the value of the capital contributed.
Company name and statutes registration: USD 275; Publication certificate: USD 50.
A Private Limited Company
 
 
No minimum legal capital.
At least 2 partners.
 
 
Liability is limited to the value of the capital contributed.
Company name and statutes registration: USD 275; Publication certificate: USD 50.
A Corporation half way between a joint stock company and a Private Limited Company
 
 
No minimum legal capital.
No minimum.
 
 
Liability is limited to the value of the capital contributed.
Company name and statutes registration: USD 275; Publication certificate: USD 50.
 
Business Setup Procedures
The status are composed of a Certificate of Incorporation and of (by-laws). The corporate name must be registered, by checking that it is not being used in the State or in the state(s) where the company intends to do business.
The Competent Organization
The U.S. Securities and Exchange Commission. The certificate of incorporation, also called Doing Business AS (DBA) must be registered with the Trade Register of the State where the company is located. Only General Partnerships do not need to be registered.
Search a Company or a Financial Report
USPTO, United States Patent and Trademark Office

Return to top

Working Conditions

Legal Weekly Duration
40 hours.
Retirement Age
65 years.
Working Contracts
The contract determines if the employee is part of the regular or non-regular staff. Full time employees form the regular staff. Among the non-regular staff, there are different types of contract: part-time workers, temporary workers, Interns.

Return to top

Cost of Labor

Minimum Wage
The federal minimum wage for covered nonexempt employees is USD5.85 per hour effective. Many states also have minimum wage laws. In cases where an employee is subject to both the state and federal minimum wage laws, the employee is entitled to the higher of the two minimum wages.
Average Wage
Weekly average wage in USA is USD 818.
Social contributions
Social Security Contributions Paid By Employers: 7,65% (medicare + social security), 6.2% Unemployment
Social Security Contributions Paid By Employees: 7,65% (medicare + social security)

Return to top

Social Partners

Social Dialogue and Involvement of Social Partners
Today most labor unions in the United States are members of one of two larger umbrella organizations: the American Federation of Labor-Congress of Industrial Organizations (AFL-CIO) or the Change to Win Federation, which split from the AFL-CIO in 2005.
Unions
Unions
Unionization Rate
Union Membership had been steadily declining in the US since 1983. In 2007, the labor department reported the first increase in Union memberships in 25 years and the largest increase since 1979. Most of the recent gains in union membership have been in the service sector while the number of unionized employees in the manufacturing sector has declined. Most of the gains in the service sector have come in West Coast states like California where union membership is now at 16.7% compared with a national average of about 12.1%
Labor Regulation Bodies
Department of Labor
U.S. Bureau of Labor Statistics

Return to top

Any Comments About This Content? Report It to Us.

 
 
Find more on GlobalTrade.net about Operating a Business in the United States.
 
Read more See less
Experts Views (19)
Hot Tips (5) Go Top
Latest News (1) Go Top
Post your content

WANT TO APPEAR ON THIS PAGE?

Post content about Business Administration in the United States and you will be listed here to receive requests for offers.

Contact our expert contributors