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