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2.01 Types of business ownership

AB
Sole ProprietorshipOne person
PartnershipTwo or more people
CorporationOne or more shareholder, who has one vote per share.
Partnership FormationVaries from state to state
Manage by one personSole Proprietorship
Determined by partnership agreementPartnership
Board of DirectorsCorporation
LiabilityAnything owed by the business.
DormantNot active in the business
GeneralActive in the business
LimitedKnown to the public
SecretUnknown to the public


Business Ed. Teacher
Wake Forest High School
Wake Forest NC

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