2. 01 Types of Business Ownership

Styrling Tangusso - 2-17-16 - 3rd period - POBF

Introduction

The three types of ownership are corporation, partnership, and proprietorship. A corporation is a business owned by shareholders and managed by a board of directors. A corporation is businesses like McDonald's and Nike. A partnership is a business owned and controlled by two or more people who have a written agreement. Two famous partnership business is Apple and Google. Apple was founded my Steve Jobs and Steve Wozniak. A sole proprietor is a business ran by one person. Two well-known sole proprietor company is Ebay and Subway. Ebay was founded individually by Pierre Omidyar. A Cooperative is owned by members and serves their needs and is managed in their interest. A franchise is given permission to operate a business to sell products and services in a set way. It begins with a parent company who owns the product or service and sells the right to another business.

Special Types of Ownership