Other Types of Business Owners
Completion requirements
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- 2a Discuss the legal forms of businesses, including sole proprietorships, partnerships, corporations, limited-liability corporations, and subchapter S corporations (CLO 3)
Introduction
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Although C-corporations are the most common type of corporate ownership, there are other forms that you should be aware of. Read this section to learn about S-corporations, limited liability companies, cooperatives, and nonprofit organizations. Completing the exercise at the end of the section will provide you with a table to help you prepare for the final exam.
In addition to the three commonly adopted forms of business organization - sole proprietorship, partnership, and regular corporations - some business owners select other forms of organization to meet their particular needs. We'll look at several of these options:
- S-corporations
- Limited-liability companies
- Cooperatives
- Not-for-profit corporations
This text was adapted by Saylor University under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution as requested by the work's original creator or licensor.