Jacquiline O.

Alas

Grade 11- S1

WHAT ARE THE OTHER FORMS OF BUSINESS OWNERSHIP?

Business ownership

- Individual or entity who owns a business in an attempt to profit from the successful operations of the
company. Generally has decision making abilities and first right to profit.

FORMS OF BUSINESS OWNERSHIP:

Sole Proprietorships

- The vast majority of small business start out as sole proprietorships. These firms are owned by one
person, usually the individual who has say-to-day responsibility for running the business.

Partnership

- Two or more people share ownerships, the law does not distinguish between the business and its
owners.

Corporation

- Charactered by the state in which it is headquartered, is considered by law to be unique entity,

separate and apart from those who own it. A corporation can be taxed

Co-opeartive

- is owned and controlled by an association of members. It can be set up as a for-profit or as a not-for-

profit organization.