Business Firms

Nov 12th, 2013

ProprietorshipA business that has 1 Owner

PartnershipA business organization

where there are 2 or more owners

CorporationOrganization of people that are

legally bound together by a charter to conduct some type of business

Owned by stockholders

Multinational BusinessA business that sells and

produces in multiple countries Examples?

Non-Profit Organization

An organization that does not have profit as its objective

Examples?

FranchiseA contract between a parent company

(franchiser) & some other business or individual (franchisee) that details the terms under which the franchisee does business with products, names, or other services of the franchiser

“My Business” Classwork

If you had to start a business, what goods or services would it provide? Explain why (min:1 Paragraph). Use today’s notes to describe how you would organize your business (min:1 Paragraph) and explain why. Go into details about your business and how you could make it successful (min: 1 paragraph). This should be a minimum of 1 page.