A form of business organization that is commonly created to offer affordable goods and services to its members.

It is the simplest form of business organization.

Owners of the business is commonly called as stakeholders or shareholders

A unique form of business organization whose main goal is not profit.

It is owned by a single individual who gets all the profit but also shoulders all the costs of the business.

It does not entail complicated legal procedures to start this business organization.

It has a setup of having a separate legal identity from its owner.

Each owner of the business must form an agreement regarding the structure of the business and the roles of each owner.

A profit from this business organization is called dividends.