| A | B |
|---|
| Owned and controlled by 2 or more people | Partnership |
| A written agreement defines ownership | Partnership and Corporation |
| Owned and run by one person | Sole Proprietorship |
| Shareholders have a voice in business decisions | Corporation |
| No protection for personal assets | Sole Proprietorship and Partnership |
| Managed by a board of directors | Corporation |
| Usually must be dissolved if an owner leaves | Partnership |
| The easiest form of buisness to start and run | Sole Proprietorship |
| Portects the liability of owners | Corporation |
| Business income is taxed as personal income | Sole Proprietorship |
| Two or more people can invest in the business | Partnership and Corporation |
| Must create bylaws or operating procedures | Corporation |
| Does not even require a business name | Sole Proprietorship |
| The majority of U.S. businesses | Sole Proprietorship |
| Must register the business name and the names of all owners | Partnership |
| Owned by stockholders | Corporation |
