Forms of business by luis santibanez https://padlet.com/santibanezlu/n69nhcfcc3on 5 different types of ownership en-us 2017-05-22 12:04:50 UTC 2025-10-22 11:45:27 UTC hello@padlet.com Sole Proprietorship santibanezlu https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173120535 Business owned by 1 person. Easiest to start Example: Small shops that runs it themself, or ]]> 2017-05-22 12:05:34 UTC https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173120535 Advantages(Sole Proprietorship) santibanezlu https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173469268 They are taxed once and they make all final decisions. Lastly they make all profits]]> 2017-05-23 18:27:40 UTC https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173469268 Disadvantages(Partnership) santibanezlu https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173469599 They take all debt. It is harder to do work by yourself. It is riskier to start a business on your own.]]> 2017-05-23 18:29:01 UTC https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173469599 Advantages(Partnership) santibanezlu https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173470070 The debt is split in half. Easier and less expensive. Work is also split]]> 2017-05-23 18:31:11 UTC https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173470070 Partnership santibanezlu https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173470520 When two people or more join in agreement Example: Steve jobs and Steve wozniak]]> 2017-05-23 18:33:11 UTC https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173470520 Disadvantages(Sole Proprietorship) santibanezlu https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173472424 When the is a disagreement and splitting the profits]]> 2017-05-23 18:40:12 UTC https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173472424 Advantages(Corporation) santibanezlu https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173472754 Very big, makes lots of money]]> 2017-05-23 18:41:31 UTC https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173472754 DisAdvantages(Corporation) santibanezlu https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173473972 Taxed twice and BOD must approve for access of profit]]> 2017-05-23 18:46:39 UTC https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173473972 Corporation santibanezlu https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173475640 A Corporation is more complex and generally larger an established company with multiple employee]]> 2017-05-23 18:54:11 UTC https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173475640 Franchise santibanezlu https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173476096 A franchise is a business where the owner sells the rights and logo/name Ex: McDonald Burger King Wendys]]> 2017-05-23 18:56:19 UTC https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173476096 Co-Operative santibanezlu https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173476177 Big company with lots of employees owned and operated for benefiting those who use its service.Ex: dairy farmers]]> 2017-05-23 18:56:33 UTC https://padlet.com/santibanezlu/n69nhcfcc3on/wish/173476177