A single owner who takes all the risks and gets all the profits.
MOST COMMON TYPE OF BUSINESS
A business owned by two or more people; the risks and profits are shared among all of the owners
A corporation allows people to buy stocks in their business and own small parts of that business, and the stock owners get the profit or loses.
Uncle Bill's Pancakes in St. Louis, MO is a sole propietorship
Law Offices of Brimberry, Kaplan, and Brimberry in Albany, GA is an example of a partnership.
Nike is an example of a corporation
You don't have all the responsibility; you split it with someone else.
You have all the responsibility.
Shares of ownership in a corporation.
A shareholder's share of a corporation's profits; the amount the shareholder gets of the corporation's profits.
Board of Directors
People who are elected by shareholders to run a corporation