What are the four types of business ownership? Describe each of them.
The four types of business ownership are (1) sole proprietorship, (2) corporation, (3) limited liability company, and (4) partnership. A sole proprietorship is the most flexible form but also has the greatest number of disadvantages. The sole proprietor is free to run the business as he/she chooses. There is no separable line between the sole proprietor and the business . Any person or any entity that sues the business can potentially lay claims on the ...
This solution discusses the four types of business ownership.