When Entrepreneurs Want to Start a Business

Sunburst Mission: To create, develop, and maintain progressive

solar energy technologies and services with a diverse and

customer driven approach to energy production.

Sunburst Mission: To create, develop, and maintain progressive solar energy technologies and services with a diverse and customer driven approach to energy production.

When entrepreneurs want to start a business, they have six choices to choose from, first A sole proprietorship, that is when a single person maintains ownership. They will have unlimited liability for all debts of the business, and the income or loss from the business mb, will be reported on his or her personal income tax return along with all other income and expense he or she normally reports. The second is a General Partnership where two or more partners will have unlimited liability for the debts of the business. The income and expense are reported on a separately for tax purposes and each report their share of the profit or loss from the business on their personal tax return. Third is a Limited Partnership. Each of the general partners has unlimited liability for the debts of the partnership, but the exposure to debt is based on how much is contributed by the partner. Fourth is a Corporation where there is limited liability for the investors. None of the shareholders in a corporation are obligatd for the debts of the corporation; creditors can look only to the corporation's assets for payment. The corporation files its own tax return and pays taxes on its income. If the corporation distributes some of its earnings in the form of dividends. Fifth is a Limited Liability Company. A limited liability company provides limited liability for its members, but can be treated as a typical partnership for tax purposes It can be managed by all of the members or can have centralized management in one or more of the members. 

The sunburst organization is a Limited liabity coprations (LLC). The LLC is a form of business organization that incorporates elements of corporations and partnerships. it provides the advantages of limited liability, favorable taxation, flexible ownership structure and reduced legal formalities. Unlike partnerships or sole proprietors, owners of shares are liable for the debts of the LLC only up to the amount that they contributed to it.

Potential investors to Sunburst can contribute large or small investments, the personal assets of members cannot be reached by the LLC's creditors. There is no maximum number of members. Members will be a part of a board, but the practical members will be comprised of the founders and the members who contribute the most investments. But its possible that some members could be elected to the positions.

The CEO will also be the Chairman of the board. His powers as CEO are to ensure the mission is carried out and to guide and communicate effectively to the board.  As chief executive officer the highest-ranking executive in a company, their primary responsibilities include making desions, managing the overall operations and resources of a company, and act as the main point of communication between the board of directors and corporate operations

The Chief Technical Officer will have dual roles. But his/her subordination to the CEO as CTO will remain. The CTO is the highest technology executive position within a company and leads the technology or engineering department. The CTO is responsible for the management of an organization's research and development, and other technological needs. They will implement the short and long-term needs of the organization and use capital to help the organization reach its objectives. They also develop policies, procedures, and uses technology to enhance products and services that focus on external customers.