4 Major Types of Business Ownership
By: Trevor Johnson
The major types of business ownership
- Sole Proprietorship
- Limited Liability Partnership (LLP)
Limited Liability Partnership (LLP)
A corporation is a for of business operation that declares the business as a separate, legal entity guided by a group of officers known as the board of directors. A corporate structure is perhaps the most advantageous way to start a business because the corporation exists as a separate entity. In general, a corporation has all the legal rights of an individual, except for the right to vote and certain other limitations.