ENT-1.05-Business Ownership

ENT-1.05-Business Ownership

by Jennifer Barnett

​Sole Proprietorship

• ​The owner assumes all the profits and all the risks

• Unlimited liability

• 70% of the businesses in the US

• Typically employ less than 50 people​

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​Partnership

• ​Owned by 2 or more people

• ​Share the risks and the profits

• ​Limited liability

​Corporation

• ​Many owners

• ​Functions independently of its owners

• ​Owners are only liable for the amount they invest in the company

​S Corporation-100 or few shareholders

​C Corporation-sells millions of shares of stock