Business Legal Structures - created from Mind Map

SOLE TRADER minimum 1 owner  keep all the profits  invest their own capital  unlimited liability

RETAIL CO-OPERATIVE group of people  supplies customers with lower prices  lacks loyalty from members

PARTNERSHIP (minimum) 2-20 owners  shared responsibilities  shared profits & hours  1 sleeping partner unlimited liability

PRIVATE LIMITED COMPANY (minimum) 2-50 owners  manufacturer or chain of retailers  high legal standards  capital (investors)  shares shared equally - dividance

PUBLIC LIMITED COMPANY (minimum) 2 owners - unlimited  maufacturer or chain of retailers  original owners may lose control - can be sued  £50,000 minimum share capital  limited liability

WORKERS CO-OPERATIVE self managed by workers  ignores others abilities and skills  open market

Business Legal Structures