Forms Of Business

Definition

A business that legally has no separate existence from its owner. Income and losses are taxed on the individuals personal income tax return

Some Examples

Small Bakery

Definition: A partnership is a formal agreement by 2 or more people or companies to to run a business and share their profits

Examples

RedBull And Gopro

Spotify and Uber

Definition:

A corporation is a legal entity that is separate and distinct from its owners. Corporations enjoy most of the rights and responsibilities that individuals possess: they can enter contracts, loan and borrow money, sue and be sued, hire employees, own assets, and pay taxes. Some refer to it as a "legal person."

Examples

Sony

Google

Definition: An authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities, e.g., providing a broadcasting service or acting as an agent for a company's products.

Some Examples

MdDonalds

Subway

Definition:A cooperative business, also known as a co-op, is a type of organization that is both owned and controlled by its members, who also happen to use the services and products of the cooperative

Some Examples

Organic Valley

Food First

A service that is offered to people and you usually pay monthly or yearly or any time period.

examples: phone plans (rogers, telus) you pay monthly fees and get services of you choice

example:Hairdresser: you get a haircut then you pay after you have received that service.

A merchandiser is a business that purchases inventory and resells it to customers for a profit.

Example: sport check: they get shoes from Nike and Adidas for cheaper then re sell them for profit

Example: Walmart: they sell goods for and all type of merchandise to meet demands

Manufacturing is the making of goods by hand or by machine that upon completion the business sells to a customer.

Example:
Automotive companies, such as Ford and GM, are classic examples of manufacturing businesses

example: tissue companies, (Kleenex, Charmin)

E- Commerce is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet

Example: Amazon

Example: Ebay

Non- Profit organizations that don't profit from any kind of donations from people

Example: Red Cross

Example: UNICEF

Example: Gates Foundation