This is a reissuing of my original Forms of business organization presentation. BF10 - Principals of Business and Finance Forms of Business Organization Thanks to Sebastiaan ter Burg for making these images open for creative commons use. https://www.flickr.com/photos/ter-burg/sets/72157631863223440/

1. https://flic.kr/p/8Qib7Xhttps://flic.kr/p/dobti1

2. https://flic.kr/p/dob1eE

3. https://flic.kr/p/dob26Q
A business owned and managed by one person.

4. https://flic.kr/p/dobfnr
Easiest type of business to form,
the owner has almost complete control of business,
the owner get to keep all the profit, &
is only taxed once.

5. https://flic.kr/p/doaTZ1
No legal separation of the owner from the business,
limited capital,
unlimited liability, &
limited business lifetime.

6. https://flic.kr/p/doaRgM
End at the decision or death of the owner, & are
funded by the owner’s personal money, gifts,
loans, and/or other sources of capital.

7. https://flic.kr/p/dobkmthttps://flic.kr/p/dobtq3

8. https://flic.kr/p/dobsXS
A Business owned by two or more people, &
managed according to the partnership agreement.
https://flic.kr/p/dobtaw

9. https://flic.kr/p/dobnG3
Easy to form,
more capital and credit available,
work load more evenly shared, &
losses are also shared
https://flic.kr/p/dobioc

10. https://flic.kr/p/doaZut
Unlimited liability,
limited lifetime (if partner leaves or dies),
profits are shared,
decisions are made jointly, &
hard to add other partners
https://flic.kr/p/dob1oT

11. https://flic.kr/p/dob2VN
Are terminated by actions of the partners, bankruptcy, death, and/or court order, &
are funded by the personal account of the partners, gifts, loans, and other capital resources.
https://flic.kr/p/dob3WG

12. https://flic.kr/p/dobkGa

13. https://flic.kr/p/dobkGa
A business with the authority to act as a single person.
(legally a person)

14. https://flic.kr/p/dobruq
Ownership is determined by stocks (a
shareholder/stockholders owns a piece of the
company).
Corporations are managed by a board of
directors who were voted/appointed by
shareholders.

15. https://flic.kr/p/dobfTZ
An article of incorporation with the state
government must be filed. The business must
create corporate bylaws, name a board of
directors, and issue shares of stock.

16. https://flic.kr/p/doboUq
Capital easy to obtain,
limited liability for shareholders,
ownership without having to manage,
possibility of unlimited lifetime, &
decision-making is shared.

17. https://flic.kr/p/dobs8W
Double taxation: profits and earnings
Subject to more laws than other types of ownership,
more difficult to form,
operations controlled by shareholders
and board of directors instead of original owner(s)

18. https://flic.kr/p/dobeLF
Corporation may have unlimited life. Determined by
charter or articles of dissolution, and must be approved
by the majority of the board of directors and/or
stockholders (shareholders), &
capital is raised through the issuing of stocks.