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![Page 1: Types of Business Ownership 1 Entrepreneurs need to understand the advantages and disadvantages of various forms of business ownership so they can choose.](https://reader036.fdocuments.net/reader036/viewer/2022062322/56649edc5503460f94bec1b0/html5/thumbnails/1.jpg)
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Entrepreneurs need to understand the advantages and disadvantages of various forms of business ownership so they can choose the most appropriate form for their business.
Section 7.1 Sole Proprietorships and Partnerships
7.1
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Types of Business Ownership Types of Business Ownership
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Sole Proprietorship
Section 7.1 Sole Proprietorships and Partnerships
Group 1
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Types of Business Ownership Types of Business Ownership
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Sole Proprietorship
Section 7.1 Sole Proprietorships and Partnerships
Group 2
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Types of Business Ownership Types of Business Ownership
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Sole Proprietorship
Section 7.1 Sole Proprietorships and Partnerships
Group 3
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Types of Business Ownership Types of Business Ownership
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Sole Proprietorship
Section 7.1 Sole Proprietorships and Partnerships
Group 4
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Partnerships
Section 7.1 Sole Proprietorships and Partnerships
Group 5
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Partnerships
Section 7.1 Sole Proprietorships and Partnerships
Group 6
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Partnerships
Section 7.1 Sole Proprietorships and Partnerships
Group 7
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Partnerships
Section 7.1 Sole Proprietorships and Partnerships
Group 8
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In a corporation, the owners of the business are protected from liability for the actions of the company.
Section 7.2 Corporations
7.2
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Corporations
Section 7.2 Corporations
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Corporations
Section 7.2 Corporations
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Corporations
Section 7.2 Corporations
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Subchapter S Corporation
Section 7.2 Corporations
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Nonprofit Corporation
Section 7.2 Corporations
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Limited Liability Company
Section 7.2 Corporations
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Making the Decision Before deciding on a legal form, ask yourself key questions about:
Section 7.2 Corporations
your skills
capital
expenses
willingness to assume liability
level of control wanted
length of time you expect to own the business