Business Structures Review

-Owned by a single owner
-No separation between owner and business
-Unlimited personal liability

• Corporation
• Limited Liability Company
• Partnership
• Sole Proprietorship

-Publicly traded company
-Governed by Board of Directors
-CEO, COO, CFO
-Stocks sold to raise capital

• Corporation
• Limited Liability Company
• Partnership
• Cooperative

-One or more owners
-Limited personal liability
-Must be legally dissolved/reformed when ownership changes

• Partnership
• Limited Partnership
• Corporation
• Limited Liability Company

-Two or more owners
-Unlimited Personal Liability
-No separation between owners and business

• Limited Partnership
• Corporation
• Cooperative
• Partnership

-Organization made up of many smaller firms
-Operated democratically (all firms get one vote)
-Provided subsidies/lower tax rates by the Government

• Corporation
• Cooperative
• Limited Liability Company
• Limited Partnership

-General Partner provides business skill/talent
-Silent Partner provides capital
-Silent Partner enjoys limited personal liability

• Partnership
• Limited Liability Company
• Limited Partnership
• Joint Venture

-Subject to high start-up and royalty fees
-Must adhere to corporate standards
-Privately owned locations but associated with a larger, more recognizable brand

• Franchise
• Limited Partnership
• Corporation
• Joint Venture

-Comprised of two preexisting companies
-Resources and talent pooled to achieve business objectives
-Business relationship is temporary; profits shared

• Partnership
• Limited Partnership
• Franchise
• Joint Venture

In a Limited Partnership, the limited partner is also known as the:

• Financier 
• Monopolist
• Venture Capitalist
• Silent Partner

"A company's financial debt or obligations that arise during the course of its operation..." 
This definition best describes...

• Profit
• Revenue
• Liability
• Lateral Alignment