Forms of Business:
- Sole Proprietorship
- Partnership
- Corporation
- Cooperatives
It is a business owned and operated
by single person.
SOLE /SINGLE PROPRIETORSHIP
Unique advantages of a Sole
Proprietorship:
Ease and Cost Formation
Secrecy
Distribution and Use of Profits
Control of the Business
Government Regulations
Taxation
Closing the Business
an association of two or more persons who have agreed to contribute money, property , or industry to a common fund with the intention of dividing the profits among themselves.
PARTNERSHIP
Such partnership in partnership are called
GENERAL PROFESSIONAL PARTNERSHIP
The owners of a partnership are called
PARTNERS
Is an artificial body organized in
accordance with the provision of law in which ownership is divided into shares of stocks.
CORPORATION
Five or more persons are required to
organized this business, which include the incorporators that are called SHAREHOLDERS or STOCKHOLDERS.
CORPORATION
are the written evidence representing ownership in a corporation.
STOCK CERTIFICATES
Evidence of investment are
STOCK CERTIFICATES
are owned by its members or the people who use the services of the business
Cooperative
7 characteristics of a Partnership
- Mutual agency
- Voluntary association
- Based on contract
- Limited life
- Unlimited liability
- Division of profit
- Co-ownership of contributed assets.
