Business Models

Sole Proprietorship: enterprise that is owned and controlled by one person and where there
is no legal distinction between the proprietor and the enterprise.

General Partnership: A partnership is fashioned when two or more individuals consents to

carry on an enterprise jointly.

Limited Partnership: a partnership formed by two or more persons and having as members
one or more general partners and one or more limited partners

C-Corporation: As a rule most clear trait of the corporation is that it is officially regarded as
a private unit, disconnected from its proprietors, who are own the shares of the company.

S-Corporation: A special form of corporation that that has the benefits of limited liability but
the profits and losses go right to the shareholders.

Limited Liability Company: type of company, authorized only in some states, whose owners
and managers receive the limited liability and (usually) tax benefits of an S Corporation
without having to conform to the S corporation restrictions.