Five types of businesses
Franchises
Uber
Tim Hortons
-One business licences the rights to its name, operating procedure, designs, and business expertise to another business
Partnerships
Hewlett packcard
Warner brothers
-It is usually operated by two or more individual. -they share the cost of responsibilities of a running business.
Co-operatives
Home Hardware
Canadian Press
-It is a business owned by the worker or by members who buy the products or use the services that the business offers . -The profits are distributed according to how much each member spends at the co-operative.
Corporations
Coca Cola Company
7-eleven
-A business granted legal status with rights, privileges, and liabilities that are distinct from those of the people who work for the business. -Can be as small as one person or something large such as Multinational. -Most are owned entirely by individuals, families, and small groups.
Proprietorships
Examples:
Mesh
Foreign Professionals of Canada
-A business by one person. -Owner owns all equipment and many own the building. -Uses their own money to run their business.
