Business Organizations

Types of Business

  • Sole Proprietorship: Owner has unlimited liability, or full responsibility over the business.

  • Partnership: Where responsibility is split between two or more people.

  • Corporation: Has limited liability, which is having little to no responsibility.


Organization Structure

Stock- Shares of ownership in a corporation

Dividend- A shareholder's share of a corporation's profits

Board of Directors- Body of elected members who oversee the activities of a company/organization