Purchase Solution

Types of Business Ownerships (Advantage & Disadvantage)

Not what you're looking for?

Ask Custom Question

There are many advantages and disadvantage to each type of business ownership. Select and discuss two advantages and two disadvantages for each type of business ownership.

Purchase this Solution

Solution Summary

This solution discusses advantages and disadvantages of various types of business ownership.

Solution Preview

Business Ownership

Business ownership is when one or more people own an organization that provides products or services for consumers. The owner's rights and responsibilities are structured in the form of business entities. The three primary business types are sole proprietorship, partnerships, and corporations.

Business Entities (Advantages & Disadvantages)

There are many pros and cons to each type of business ownership. In this study, we will observe two advantages and two disadvantages for each entity.

1. Sole Proprietorship - This type of business is owned by one individual and there is no legal separation between the business owner and the company. One advantage is that when the business is doing well, the owner receives all of the profits. A second benefit is that these owners make their own decisions. They do not have the burden of arguing with a partner or board of directors to approve business decisions. The disadvantage is that all liabilities are the responsibility of the owner since there is no legal distinction between the owner and the ...

Purchase this Solution


Free BrainMass Quizzes
Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.

Organizational Leadership Quiz

This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.

Employee Orientation

Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.

Introduction to Finance

This quiz test introductory finance topics.

Writing Business Plans

This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.