Join date: Apr 26, 2022

5 Forms of Business Ownership You Must Know

when you study business management assignment helper, you must learn about different forms of business. If you are writing a dissertation paper, you need to read everything about the business, and that includes ownership. Do My Dissertation is not easy, and you need to include all the details about the business-like ownership, aspects, types, features, objectives, etc.

You cannot develop a paper based on vague ideas, so you need to research and work on the topic before writing.

Here are some forms of business ownership that you must understand and learn by heart.

1. Sole Proprietorship

There are several types of business ownership, and one of them is a sole proprietorship. A sole proprietor owns and operates a business all by himself. Therefore, it is quite easy to set up, operate, and register. Moreover, the business owner gets all the profits from businesses and is also liable for all the liabilities incurred. The biggest downside of a sole proprietorship is that the owner encounters unlimited liability. This indicts that the business's creditors can go after the owner's personal assets if the business fails to pay them.

2. Partnership

The second type of business ownership is a partnership, where two or more persons are involved and join hands to operate a business. Partnerships are of two types – General and limited. A general partnership is similar to sole-proprietorship, but it includes more than one owner where all the owners meet the unlimited liability. In limited partnerships, some or all of the partners are bound to face limited liability.

3. Corporation

A corporation is another type of business that has a separate legal identity from the owners and operators of the business. Ownership is usually defined in the form of shares of the stock.

Business owners enjoy limited liability, but they are not bound to run the business. Instead, the business is run by a group known as the board of directors, who the shareholders elect.

4. Limited Liability Company

A limited liability company is a hybrid type of business that has traits of both a corporation and a partnership. However, a partnership is not integrated and a corporation because all partners or owners enjoy limited liability.

5. Cooperative

The 5th type of business is the cooperative, a private business organization owned and run by people for mutual benefits. These people are called members and benefit from the cooperative's goods and services. All cooperative business members are expected to help operate the business as the main reason for the cooperative is to offer service to all the members rather than a return on investment.

The forms mentioned above of business ownership can help you develop assignments. In addition, you can take homework help free from online services where you can also get proposal essay help.

Source:- 5 Forms of Business Ownership You Must Know

John Luther
More actions