Types and Forms of Business Ownership
Partnership
The legal ownership of a business split between 2 or more individuals that have control both management and profits.
some famous examples of partnerships are Warner Brothers, Microsoft, Apple,Google, Twitter.
Sole Proprietorship
Sole Proprietorship is a business owned by a single person.
Most tutoring services,computer repair and financial planners are all examples of a sole proprietor business.
franchise
A franchise is a business that sells the rights to their business logo, name, and model to third party retailers.
Mcdonalds, Subway, UPS, Hilton Hotel and Resort, and Taco Bell are big franchises nearly everyone has been to.
Co-operative
A business that is owned by its members ownership is based on how much each member has contributed in a sense there like a non profit democracy.
Alvarado Street Bakery
Black Star Co-op Pub and Brewery
Corporation
A corporation is separated legal entity from its owner making the owner carry limited liability.
Fedex, Bank of America, 7-eleven, best buy
Service
Service is a business that sells their skills and intangible products.
Oil changes, salon/barber, and schools are some examples of services.
Merchandising
Merchandising is a business that buys and then resells products.
Walmart, Canadian Tire, any clothes, jewelry, or shoe store are all examples of a merchandising business.
Manufacturing
A manufacturing business makes products out of raw materials/components, then sell those products.
Any food, furniture, or toy business like McDonald's or Wendy's.
E-Commerce
E-Commerce is business that does transaction over the internet.
Examples of E-Commerce are Amazon, eBay, Etsy, Alibab, Fiverr, and Upwork.
Non-Profit
A non-profit business is a tax-exempt organization for purposes like religious, artistic, educational, etc. and do not financially benefit.
Examples of non-profit businesses are American Heart Association American, Red Cross, United Way, Salvation Army