Forms of Business Ownership

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Sample Mind Map

af Janet stratis

Types and Forms of Businesses

af Kelly Tran - Rick Hansen SS (2542)

Globilzation Mind Map!

af Gayatri Chandrakumar - Rick Hansen SS (2542)

NBA

af Saund Prabhcharan

Forms of Business Ownership

Franchise

-Follow all rules exactly -Less control

-Many connections and advertisement -Fast growth

Partnerships

-Potential separation -Disagreements in ideas

-Shared responsibility -More protection

Cooperatives

-Lots of competition -Coruption

-contribution and shared responsibility -Further marketing reach

Corporations

-Double taxation -Lots of protocols to follow

-security and continuity -Liability protection -More perspectives

Sole proprietors

disadvantages

-Risk of wrong decisions -Unlimited liability -Not as much advertisement -Less management

advantages

-Simplified ownership -Fewer registration fees -More freedom and control -Keep the profits