Business Etc.

Business ideas come from business-minded people.

Basic forms of business ownership

Forms of business ownership vary by jurisdiction[->0], but several common forms exist-

· Sole proprietorship: A sole proprietorship[->1] is owned by one person and operates for their benefit. The owner may operate the business alone or with other people. A sole proprietor has unlimited liability[->2] for all obligations incurred by the business, whether from operating costs[->3] or judgments[->4] against the business. All assets[->5] of the business belong to a sole proprietor, including, for example, computer infrastructure, any inventory[->6], manufacturing[->7] equipment and/or retail[->8] fixtures[->9], as well as any real property[->10] owned by the business.

· Partnership: A partnership[->11] is a business owned by two or more people. In most forms of partnerships, each partner has unlimited liability for the debts incurred by the business. The three most prevalent types of for-profit partnerships are general partnerships[->12], limited partnerships[->13], and limited liability partnerships[->14].

· Corporation: The owners of a corporation[->15] have limited liability[->16] and the business has a separate legal personality[->17] from its owners. Corporations can be either government-owned[->18] or owned by individuals. They can organize either for profit or as not-for-profit[->19] organizations. A non-government for-profit corporation is owned by its shareholders[->20], who elect a board of directors[->21] to direct the corporation and hire its managerial staff. A privately owned, for-profit corporation can be either privately held[->22] by a small group of individuals, or publicly held[->23], with publicly traded shares[->24] listed on a stock exchange[->25].

· Cooperative: Often referred to as a "co-op", a cooperative[->26] is a limited liability business that can organize for-profit or not-for-profit. A cooperative differs from a corporation in that it has members,...