5 Types & Forms of Business Ownership

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Types of Business forms and businesses

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ARTICLE SUMMARY INDIVIDUAL ASSIGNMENT HPT30303 L3T2

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Forms and Types of Businesses

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5 Types & Forms of Business Ownership

Co-operative

Subtopic

Housing

Involving mutual assistance in working towards a goal

Franchise

KFC

Taco Bell

Authorization granted by the government or a company to an individual allowing them to carry out specific activities.

Corporation

Domino's

Apple

An organization, authorized to act as a single entity.

Sole Proprietorship

Art Studio

Catering Company

Type of enterprise owned by and run by one person and no legal distinction between the owner and business.

Partnership

Spotify

A formal arrangement by two or more parties to manage and operate and share its profits.

Non-Profit

Habitat For Humanity

The Red Cross

Not conducted to primarily make a profit.

E-Commerce

Amazon

eBay

Transactions conducted electronically on the internet.

Manufacturing

Ford

General Motors

The making of items on a large scale using machinery.

Merchandising

Wal-Mart

Marshall's

Activity of promoting the sale of goods, especially by the presentation in retail outlets.

Services

Doctors

Dentists

A transaction where no physical goods are transferred from buyer to seller.