Types of businesses

12.09.2016 09:20
A type of bussines determinates or describes how they are organized and run. The four main types of businesses ownerships are the following:
  1. Sole proprieitorship: Only one person is the owner of the company and is responsible for the resources or funds related to the organization of the business. Depending of the number of employees, the owner has different responsabilities, incluiding selling and arranging displays. If the company of the owner has liabilities (deudas de la empresa), this are called unlimited liabilities
  2. Partnership: Type of business in which two or more individuals share the cost and resposabilities related to the business. The terms of the partnership are recorded in a partnership agreement, this 2 individuals share the liabilities and they are called limited liabilited
  3. Corporation
  4. Cooperatives
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