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The most common form of business organization

Ran by a single individual

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Easy to Start

The owner keeps all profits and does not have to share

The owner makes all decisions on their own

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Unlimited Liability

Difficult to attract qualified employees

Limited Life

Limited access to funding

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Earns the greatest percentage of business profits in the U.S.

Owned by shareholders

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Access to large amounts of financial capital (money) for expanding

Unlimited life (business continues to exist even when ownership changes)

Limited liability

Easy to transfer ownership

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Double taxation (taxed on profits and dividends)

Owners have little control over the day-to-day operations of the businessOwners have little control over the day-to-day operations of the business

Greater government oversight/regulation

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The least common form of business organization

Owned by two or more people

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Easy to Start

More access to start-up money than sole proprietorships

Can benefit from specialization based on owners’ areas of expertise

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Potential for conflict

Profits have to be shared between co-owners

Limited life (death of owner(s) ends the business)

Unlimited liability