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    The document discusses different types of business ownership including sole proprietorships, partnerships, corporations, and franchises. For each type of ownership, it lists key advantages and disadvantages. Sole proprietorships offer complete control but unlimited liability, while partnerships combine skills but require distribution of profits. Corporations provide democratic control but lack individual motivation. Franchises have name recognition but less freedom to experiment.

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    The document discusses different types of business ownership including sole proprietorships, partnerships, corporations, and franchises. For each type of ownership, it lists key advantages and disadvantages. Sole proprietorships offer complete control but unlimited liability, while partnerships combine skills but require distribution of profits. Corporations provide democratic control but lack individual motivation. Franchises have name recognition but less freedom to experiment.

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    38 views5 pages

    Types of Business Ownership

    Uploaded by

    api-448618308
    The document discusses different types of business ownership including sole proprietorships, partnerships, corporations, and franchises. For each type of ownership, it lists key advantages and disadvantages. Sole proprietorships offer complete control but unlimited liability, while partnerships combine skills but require distribution of profits. Corporations provide democratic control but lack individual motivation. Franchises have name recognition but less freedom to experiment.

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    of 5

    Types Of Business

    Ownership
    By Aryana Gobbi
    Advantages Disadvantages
     Owner maintains 100% of  Unlimited liability
    control and ownership of the
    business  Limited resources

     Easier to set up than other  Owner's death=business death


    Sole Proprietor types of business
    ship  Tax Breaks
    Advantages Disadvantages

     Combined knowledge and  Distribution of profits


    skills
     Limited sources of funds
     Ease of starting
     Unlimited Liability
    Partnerships  Tax Breaks
    Advantages Disadvantages
     Democratic control  Long decision-making
     Members work together and process
    are united because they have  Lack of motivation because
    the same goals there is no incentive
    Corporation  Less tax  Corruption
    Advantages Disadvantages
     Recognition of a name-brand  Less freedom to experiment
     Formal training programs  High initiation costs
     Conflict of interest
    Franchises

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