Types of Ownership
More information about sole propiertoship
An example of sole proprietorship would be small local businesses.
The most basic type of business organization is sole proprietorship.
2 types of partnerships: Limited partnership and general partnership
Easier to run/manage because because its less strictly regulated
Partners share responsibility and make decisions together
Partners could disagree with each other
Partners have to share the profit
Examples of partnerships
3. Limited Liability Partnership
What is a Limited Liability Partnership?
Advantages of LLC
Some benefits of having a Limited Liability Partnership
An example of a LLC would be caic which is an arts institute in Chicago.
"What Is a Corporation?" YouTube. YouTube, 21 Mar. 2011. Web. 19 Sept. 2014. <http://www.youtube.com/watch?v=wlyu3NU7rrY>.
"What Does It Mean to Have a Limited Liability Partnership, or LLP?"YouTube. YouTube, 9 Jan. 2013. Web. 19 Sept. 2014. <http://www.youtube.com/watch?v=yCIoaNZETPY>.
"General vs. Limited Partnerships." All Business. Dun & Bradstreet, n.d. Web. 19 Sept. 2014. <http://www.allbusiness.com/business-planning-structures/business/1303-1.html>.
"Advantages and Disadvantages of Partnership." Company Formation Guidance and News. N.p., n.d. Web. 19 Sept. 2014. <http://blog.thecompanywarehouse.co.uk/2010/03/01/advantages-and-disadvantages-of-partnership/>.
"Business.tas.gov.au." Sole Proprietorship â Advantages and Disadvantages. N.p., n.d. Web. 19 Sept. 2014. <http://www.business.tas.gov.au/starting-a-business/starting-a-business-from-scratch/choosing-a-business-structure-intro/sole-proprietorship-advantages-and-disadvantages>.