Business Types

Destanie Spencer

Sole Propietorship

A single owner who takes all the risks and gets all the profits.


MOST COMMON TYPE OF BUSINESS

Partnership

A business owned by two or more people; the risks and profits are shared among all of the owners

Corporation

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.

Limited Liabilitty

You don't have all the responsibility; you split it with someone else.

Unlimited Liability

You have all the responsibility.

Stock

Shares of ownership in a corporation.

Dividend

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