Types of business organization

Question	Answer
Sole trader	A business owned and operated by just one person
Partnership	Business in which two or more people agrees to jointly own a business
Private limited company	Type of company that offers limited liability for its shareholders
Unlimited liability	Means that owners can be held personally accountable for a business's debt
Shareholders	Owners of a limited company. They buy shares which represents part ownership of a company
Public limited company	Type of company whose share may be freely bought and sold to the public
Dividends	Payment made to the shareholder in return for investing in the company through purchases of shares
Joint venture	When two or more business agrees to start a new project together
Franchising	Right granted to an individual/group to market a company's goods or service

Resource summary

	Created by Akari Yamada over 10 years ago