1. Business Structures
Sole Proprietorship
The simplest form of
business organization
a firm that is owned and
operated by 1 person
may hire others as workers
75% of Business and most on
human resources (jobs)
Examples:
plumber, hair stylist, lawn
maintenance, tattoo artist
2. Business Structures
Partnership
Two or more people agree
to contribute resources to
business and share profits
General Partnership
Partners share both in
responsibility of running
the business and in any
liability for debts
Limited partnership
One partner runs the
business and bears unlimited
liability; other partners
provide financial capital, but
have limited liability
Examples: physicians, lawyers
3. Business Structures
Corporation
A legal entity with an existence
that is distinct from the people
who organize, own and run it
Private Corporation
Stock ownerships limited to
just a few people sometimes
family members; shares of stock
are not publicly traded
Publicly traded Corporation
Shares of stock owned by many
(shareholders); stock can be
bought or sold by the public in
stock exchange markets
90% goods/services bought
Examples: Ford, Nike,
Starbucks, Google
