Businesses that sell directly to consumers. Example: Amazon or Netflix

Businesses that sell directly to the government.

Exchange (goods or services) for other goods or services without using money

Traditional businesses with actual stores in which trade or retail occurs.

Organization framework legally recognized for conducting commercial activities

Garage Sales, Ebay, Facebook Marketplace, and Etsy sell directly to the consumers. This is known as:

A legal business entity that offers limited liability to all of its owners who are called stockholders.

Advantages of this business type include unlimited life, limited liability, ease of raising capital, and best for international business

Disadvantages of this business structure is separation of ownership and management, double taxation, and difficult to set up.

Social media process of employing users to participate in product design or product redesign.

Buying and selling of products and services through an electronic means.

Entrepreneur who develops environmentally-friendly products.

A business or a company

Alternative to starting a business from scratch; buying or purchasing a business already in place.

Pros to this way of entering business: proven ability to draw customers and make a profit and networks are already established.

Cons to this way of entering business include seller's personality may be reason for success; usually expensive, major improvements may be needed

Company that two or more members of the same family own and operate together; may be owned by more than one family.

Privilege granted to make or market a good or service under a patented process or trademark name.

Advantages to this way of entering business include proven product, easy to start, rely on good name and reputation, good training

Disadvantages to entering this type of business include: not free to design new products, negative at one location may hurt your business, share profits

Person who purchases a franchise

Founding company that allows an individual to run a location of their business

Regular, ongoing payment to a franchisor based on a percentage of sales (weekly, monthly, or quarterly payment)

One-time fee paid to the franchisor prior to the opening of a new outlet.

Enterprise activities that avoid harm to the environment or help to protect it in some way.

A business that maintains its primary facility in the residence of its owner