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A single person owns and runs a unincorporated business. You manage yourself.

Positive- The sole proprietor has full control and decision making powers. Any profit you make is treated as your own income.

Negative- Owner is liable for all issues including lawsuit and debt. The lack of support effects the income the business makes.

Examples: Tutoring services and a dog walker.

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Has two or more owners. All members must agree on decisions.

Postive- Moral support and can bounce off of one anothers idea. Allows flexibility and more business opportunities.

Negative- Loss of controlling the business by yourself. May cause emotional issues and arguments between the owners.

Example: RedBull & GoPro, Spotify & Uber

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Is an "artificial" person. There must be at least one stockholder. Owners can hire themseleves into the business.

Positive- Protects the owner from liability if something goes wrong and it goes to the company name instead. A corporation attracts more investors.

Negative- It is time consuming and costly. They are highly regulated.

Examples: Target and Apple

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Is the newest form of business organization. It is a private limited company.

Positive- No restrictions on the number of member allowed. Members have felxibility in structuring the company management.

Negative- More expensive. Limited life. Ownership is harder to transfer.

Example: eBay and Nike

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A business that gives the right to a person or business to sell  goods or services using its name.

Positive- May be easier to grow a business. Expansion can be faster and they are responsible for their success.

Negative- There may be multiple goals to conquer. Recruitment can be slower and less efficient.

Example: Subway and Pizza Hut