Three Types of Buisness
By: Saige Roberts
Proprietorship and Partnership:
- Owned and run by single person
- Owner has full pride and profit
- Unlimited Liability and limited financial capital
- Owned and operated by two people who have legally designated responsibilities
- Pride of owning part of a business, raise more financial capital, more talents and abilities
- Unlimited Liability, complex legal structure
For Visual Learners
Anyone who owns their own lawn care business or babysits has participated in a proprietorship.
Alice and her husband Ron are partners in this vintage clothing business. The SHARE roles in the business.
Owned by any number of people including Mr. Williams.