Business/Ownership Types

Descripción

3 Business types and 4 ownership types with examples in parentheses
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provides a needed service for a fee (dog walking) Service Business
buys finished products and resells them to individuals or other business (department stores) Merchandising Business
buys raw materials, uses labor and machinery to transform them into finished products, sells them to individuals or other businesses (Factories) Manufacturing Business
business owned by one person (small, privately owned business) Sole Proprietorship (ownership)
business owned by two or more people who agree to operate a business (Google; started by Larry Page and Sergey Brin) Partnership (ownership)
business recognized by law to have a life of its own (Coca-Cola) Corporation
where the owners are not personally liable for the company's debts or liabilities. A combination of a corporation and sole proprietorship or partnership (Amazon) Limited Liability Corporation
Person who forms ideas for products or services into real-world businesses; may be a small business owner ( Bill Gates; co-founder of Microsoft) Entrepreneur
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