PRINCIPLES,TOOLS, AND TECH

NIQUES
Lesson 3.1
 Business Organization

Sole Proprietorship
Partnership
Corporation
Cooperative
 Sole Proprietorship
 It's owned by a single individual.
 He/she exclusive control and decision-making
 Earned all profit
 Shoulders all losses and has unlimited liability
 Partnership
 Agreement in which two or more persons com
bine their resources in a business.
 The general partnership
 The limited partnership
 Corporation
 Legal entity that is separate from its owners, th
e shareholders.
 Normally exists life of 50 years and renewable f
or another 50 years.
 Limited liabilities
 Burdened by heavy taxes
 Cooperative
 It's an entity organized by people with similar
needs to provide themselves with goods or ser
vices or to jointly use resources to improve thei
r income.
 Members have an equal say in decision-making
with one vote per member regardless of numbe
r of shares
Small, Medium, and Large Scale Busin
ess