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An overview of the four basic legal forms of organization: Sole Proprietorship; Partnerships; Corporations and Limited Liability Company follows. Please also review this summary of non-tax factors to consider.
The five forms of business organizations include the following: Partnership. Corporation. Sole proprietorship. Cooperative. Limited liability company.
Business organization refers to the structure of a business entity. Examples include corporations, general partnerships, limited liability companies, and sole proprietorships.
In the United States, there are four major business organization forms that businesses can choose from. These are sole proprietorships, partnerships, corporations, and limited liability companies (LLCs). Each has its own benefits and drawbacks that owners should take into account before making a decision.
There are three common types of businesses?sole proprietorship, partnership, and corporation?and each comes with its own set of advantages and disadvantages. Here's a rundown of what you need to know about each one. In a sole proprietorship, you're the sole owner of the business.