Types of Businesses

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Types of Business - Forms of Ownership

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Types of Businesses

Partnership

Examples: Apple Hawlett Packard (HP)

Definition: A legal business formed by two or more people who share management and profits.

Corporation

Examples: Ford Adidas

Definition: Type of business that is separate and distinct from its owners. Corporates are owned by their stockholders.

Merchandising

Purchase of finished goods to resell them

Calvin Klein

Wal-mart

E-Commerce

Franchise

Examples: KFC Burger King

Definition: A business owner by an entrepreneur or entrepreneurial group, offering a product or service labeled by a corporation.

Manufacturing

Sole Proprietorship

Examples: Green Thumb Landscaping Canada Computers & Electronics

Definition: Type of business entity owned by one person. The owner is in charge.

Non-Profit

tax-exempt organization formed for religious, charitable, literary, artistic, scientific, or educational purposes.

The Red Cross

Co-Operative

Examples: Farmers of North America Auto Club Enterprises

Definition: A firm owned, controlled, and operated by a group of users for their own benefit.

Service

A service done by one or more experts

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