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types of business
structures
SOLE PROPRIETORSHIP
ALL PROFITS ARE YOURS TO
THE SOLE (INDIVIDUAL) OWNER, KEEP. BECAUSE YOU ARE
AND FULLY RESPONSIBLE FOR ALL PERSONALLY LIABLE, A CREDITOR
DEBTS AND OBLIGATIONS RELATED CAN MAKE A CLAIM AGAINST
TO THE BUSINESS. YOUR PERSONAL ASSETS AS
WELL AS YOUR BUSINESS ASSETS
IN ORDER TO SATISFY ANY DEBTS.
PARTNERSHIP
a non-incorporated business
that is created between two GENERAL PARTNERSHIP, EACH
PARTNER IS JOINTLY LIABLE
or more people.
FOR THE DEBTS OF THE
PARTNERSHIP.
In a partnership, your LIMITED PARTNERSHIP, A
financial resources are PERSON CAN CONTRIBUTE TO
combined with those of your INVOLVED IN ITS OPERATIONS.
THE BUSINESS WITHOUT BEING
business partner(s), and put A LIMITED LIABILITY
into the business. PARTNERSHIP IS USUALLY
ONLY AVAILABLE TO A GROUP
OF PROFESSIONALS, SUCH AS
YOU AND YOUR PARTNER(S) WOULD LAWYERS, ACCOUNTANTS OR
THEN SHARE IN THE PROFITS OF
THE BUSINESS ACCORDING TO ANY DOCTORS.
LEGAL AGREEMENT YOU HAVE
DRAWN UP.
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