Forms Of Business Ownership

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Forms Of Business Ownership

Corporation

Granted legal status with rights and privileges

Can be multinational or small

Individuals who buy shares become owners

The more shares a person owns the more power

Board of directors run the corporation

Limited liability to shareholders

Partnership

Operated by 2 or more individual's

All partners have unlimited liability in general partnership

Partners have limited liability in a limited partnership

Working relationship between partners

Co-operatives

Owned by the workers and or members who buy the products

Service not profit

Members only have one vote regardless of number of shares owned

Profit is distributed according to how much each member spends at the co-operative business

Franchise

The franchiser gives the right to the name, design and operation procedure to another business

Franchisee buys the legal license

Hybrid ownership

$450,000 fee needed for the franchise fee

Franchisee pays monthly pay to franchiser

Sole Proprietorship

Your own boss

Funds and investment come from the owner

Has many responsibilities such as accounting, arrange displays and cleaning

Starting a business and easy and less expensive than other forms of business ownership

The owner is responsible for all the losses and profits

Unlimited Liability