By Jordan L. Williams
- Sole proprietorship- Owning a business and being held responsible for all its functions. (Ex. Chick-fil-A)
- Partnership- When you split the liability with another person or group. (Ex. Target)
- Corporation- A group of people who work together as one with very limited liability. (Ex. Cadillac)
- Limited Liability- Liability is not mainly your responsibility.
- Unlimited Liability- You are responsible for every function of the business.
- Stock- Signifies ownership in a corporation and represents a claim on part of the corporation's earnings.
- Dividend- Distribution of a company's earnings to a class of its shareholders.
- Board of Directors- The head lead of the business who makes all decisions for a company.