Different Business Ownerships by Loren Suomela https://padlet.com/04lsuomela/duh5czdcim9d en-us 2019-03-11 17:25:03 UTC 2025-09-26 17:09:29 UTC hello@padlet.com Sole proprietorship 04lsuomela https://padlet.com/04lsuomela/duh5czdcim9d/wish/340080174 Definition:  One person owning and running their own company.
Positives:  Less government control and easy dissolution (easy to shut down).
Negatives:  Personal liability and uncertain business life
Examples:  Art studios and local grocery]]> 2019-03-11 17:29:01 UTC https://padlet.com/04lsuomela/duh5czdcim9d/wish/340080174 Partnership 04lsuomela https://padlet.com/04lsuomela/duh5czdcim9d/wish/340080337 Definition:  Two people running one company.
Positives:  It is a reduced financial burden and less paperwork.
Negatives:  Divided profits and potential conflict.
Examples:  Apple and GoPro

]]> 2019-03-11 17:29:20 UTC https://padlet.com/04lsuomela/duh5czdcim9d/wish/340080337 Corporation 04lsuomela https://padlet.com/04lsuomela/duh5czdcim9d/wish/340080487 Definition:  A group of people to acting as a single entity.
Positives: Owners are not entirely responsible for liability and employees can buy stock at a fixed-in price.
Negatives:  Time consuming and very expensive
Examples:  Bank of America and Microsoft

]]> 2019-03-11 17:29:40 UTC https://padlet.com/04lsuomela/duh5czdcim9d/wish/340080487 Limited Liability Company 04lsuomela https://padlet.com/04lsuomela/duh5czdcim9d/wish/340080585 Definition:  When the members of the company are not personally liable for the debts of the company.
Positives: Members are protected from the liability and members can receive revenues.
Negatives: High renewal fees and investors are more likely to put their money in making it harder to raise financial capital.
Examples:  Chrysler and Toys 'R' Us

]]> 2019-03-11 17:29:50 UTC https://padlet.com/04lsuomela/duh5czdcim9d/wish/340080585 04lsuomela https://padlet.com/04lsuomela/duh5czdcim9d/wish/340096758 2019-03-11 17:58:13 UTC https://padlet.com/04lsuomela/duh5czdcim9d/wish/340096758 04lsuomela https://padlet.com/04lsuomela/duh5czdcim9d/wish/340097706 2019-03-11 17:59:58 UTC https://padlet.com/04lsuomela/duh5czdcim9d/wish/340097706 04lsuomela https://padlet.com/04lsuomela/duh5czdcim9d/wish/340098192 2019-03-11 18:00:56 UTC https://padlet.com/04lsuomela/duh5czdcim9d/wish/340098192