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Ownership Structures

10/9/17

Sole Proprietorship

Sole Proprietorship

Sole Proprietors get to keep all profits from the business but are also liable for all debts if the business should fail. Decisions can be made yourself and start-up is relatively easy.

Partnerships

start-up is relatively easy with a Partnership and it is easier to acquire capital. Partners help bring different skills to the business and each has an incentive to succeed but because they share profits, they share unlimited liability . If one goes down, they all do.

Partnership

Corporations

Corporations are owned by stockholders, who are only liable to lose their original investment and nothing else. Corporations pay more taxes than other types of business and there is more governmnet regulation. Running a corporation is more difficult than other business types.

Corporation

Specialized Corporations

Similar to General Corporations but with small difference that help avoid double taxation and other expenses.

Specialized Corporations

S Corporations

Limited Liability Company

Franchises

Non-profit Corporations

Specialized Partnerships

Limited Partnership

Similar to regular partnership; not a taxable entity. Losses and gains are passed through to the partners. 2 classes of partners: Limited investors and general partners who run the business operation.

Limited Partners can only lose up to their original investment, no personal assets can be taken to pay debts.

Limited Liability Partnership

An LLP removes a partner's personal liability for another partner's mistakes. A partner's liability if this should happen is limited to the partnership's assets and not personal ones.

Cooperatives

A Co-op is an organization owned and operated by its members for the purpose of saving money on certain goods and services. A government charter is required to start a co-op. Most profits are reimbursed at the end of the year to members.

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