chapter 4 options for organizing business
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6 Terms
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Sole proprietorships
Business owned and operated by one individual
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Types of partnerships
general partnership
Limited partnership
Limited liability partnership
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Corporations
A corporation is a legal entity, created under law either provincially or federally, whose assets and liabilities are separate from those of its owners
It has many of the rights, duties, and powers of a person
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Types of corporations
Private corporation
Public corporation
Crown corporation
Non-profit corporation
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Forms of business
Sole proprietorship
Partnerships
Corporations
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Partnerships
An association of two or more persons who can carry on as co-owners of a business for profit
Note 
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