- sole proprietorship, partnership, corporation
- sole proprietorship - a business owned by one person
- partnership - a business owned by 2 or more people
- corporation- A business organized as a separate legal entity owned by stockholders
Shares of stock are easy to sell ( transfer ownership )
successful companies start as sole proprietorship and eventually incorporate
sole proprietorship gets more favorable tax treatment than a corporation but they are personally liable
the hybrid business forms combine the tax advantages of partnerships with the limited liability of corporations
