https://padlet.com/04earce/hqusi63xu0afc6wn By: Emely Arce en-us 2021-05-18 14:47:41 UTC 2023-07-26 05:06:43 UTC hello@padlet.com 04earce https://padlet.com/04earce/hqusi63xu0afc6wn/wish/1535929282 It is a business with only one owner who pays personal income tax on profits earned. 
Positives: they're easy to form & operate and it's more affordable since no legal documents need to be filed in most cases 
Negatives: uncertain business life and you have unlimited liability for debts.
Examples: a local grocery store and baker or chef ]]> 2021-05-18 14:49:21 UTC https://padlet.com/04earce/hqusi63xu0afc6wn/wish/1535929282 04earce https://padlet.com/04earce/hqusi63xu0afc6wn/wish/1537770566 It is a business consisting of two or more parties that operate it and share it's profits. 
Positives: you have less financial burden with a partner and you benefit from additional knowledge
Negatives: Disagreements might arise and there's more liabilities
Examples: law firms, uber & spotify]]> 2021-05-18 23:19:04 UTC https://padlet.com/04earce/hqusi63xu0afc6wn/wish/1537770566 04earce https://padlet.com/04earce/hqusi63xu0afc6wn/wish/1537793428 It is a legal entity that is separate and distinct from its owners, Investors purchase shares of stock as evidence of ownership 
Positives: limited liability and easier access to capital 
Negatives: double taxation and time-consuming 
Examples: coca-cola company and microsoft corporation ]]> 2021-05-18 23:32:53 UTC https://padlet.com/04earce/hqusi63xu0afc6wn/wish/1537793428 04earce https://padlet.com/04earce/hqusi63xu0afc6wn/wish/1537987460 It is a hybrid entity that combines aspects of the corporation and partnership. 
Positives: no ownership restrictions and fewer corporate formalities 
Negatives: fewer fringe benefits and more expensive to operate
Examples: Pepsi-cola and Nike  ]]> 2021-05-19 01:30:20 UTC https://padlet.com/04earce/hqusi63xu0afc6wn/wish/1537987460 04earce https://padlet.com/04earce/hqusi63xu0afc6wn/wish/1538024645 A franchise is an authority that is given by an organization to someone, allowing them to sell its goods or services.
Positives: less risky than independent business and you have business support
Negative: limited creativity and decreased profit 
Examples: McDonalds and Subway ]]> 2021-05-19 01:52:31 UTC https://padlet.com/04earce/hqusi63xu0afc6wn/wish/1538024645 04earce https://padlet.com/04earce/hqusi63xu0afc6wn/wish/1538079129 2021-05-19 02:26:39 UTC https://padlet.com/04earce/hqusi63xu0afc6wn/wish/1538079129 04earce https://padlet.com/04earce/hqusi63xu0afc6wn/wish/1538080033 2021-05-19 02:27:16 UTC https://padlet.com/04earce/hqusi63xu0afc6wn/wish/1538080033