Forms of Business Ownership and Types of Business

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Forms of Business Ownership and Types of Business

Franchise

a business in which the owner of a company allows other people to sell the company's goods in their name.

Co-operative

a business owned by people who use its' goods and services.

Corporation

a ownership that declares the businesses as different legal organizations but are controlled by a board of directors.

Partnership

a form of ownership in which two or more people own and run a business

Sole Proprietorship

Examples:

a business owned and run by own person

E-Commerce

Commercial trade of goods done electronically through the internet.

Shopify

ebay

Non-Profit

Where the owner and shareholders do not benefit financially from the profit.

Make-A-Wish

The Canadian Red Cross Society

Merchandising

The action of selling tangible goods at retail.

Urban Outfitters

LUSH

Service

An assistance/benefit provided that people are willing to pay for which does not result in a tangible product.

Boston Pizza

Royal Bank of Canada

Manufacturing

Business of producing tangible goods in big quantities.

a Doritos factory

a Mercedes Factory