Types of Business Ownership

Jacob Tant

Corporation

How many owners?- 2+ Owners

Who manages?- The CEO

How is the business started?- File certain documents

2 Advantages- More Money, Expansion

2 Disadvantages- Risk, Requires more time and money

Limited Liability

Insurance

The owner

Partnership

How many owners?- 2+

Kinds of partners?- Business

Who manages?- Founder

How is the business started?- Through the small business adminstration

2 Advantages- You know the higher up people, Don't have to worry about the government.

2 Disadvantages- Split profit, share everything.

Unlimited liability

One of the partners quit

Stock Market

Proprietorship

One person

The one person

Loans and Grants

You get all the money, you make all the decisions

Risk, Could lose everything

Unlimited liability

House and car

You quit

Stock market