Ownership

By: Grant Deacon

Sole Proprietorship

A sole proprietorship has many regulations but the biggest one is that the owner has to register the business and claim them self self employed.

General Partnership & Limited Liability Partnership

Business Entities - Partnership

Corporation

What is a corporation?

What sets the corporation apart from all other types of business is that a corporation is an independent legal entity, separate from the people who own, control, and manage it. In other words, corporation and tax laws view the corporation as a legal "person" that can enter into contracts, incur debts, and pay taxes apart from its owners. Other important characteristics also result from the corporation's separate existence: A corporation does not dissolve when its owners (shareholders) change or die, and the owners of a corporation have limited liability that is, they are not personally responsible for the corporation's debts.
What is a Corporation?

Sources

"List of Corporations." SourceWatch. N.p., n.d. Web. 19 Sept. 2014.


"Advantages and Disadvantages of the Corporate Form of Business." Small Business. N.p., n.d. Web. 19 Sept. 2014.


"What Is a Corporation? - Nolo.com." Nolo.com. N.p., n.d. Web. 19 Sept. 2014.


"Examples of Limited Liability Partnership." Small Business. N.p., n.d. Web. 19 Sept. 2014.