By: Diego Miranda

 When an individual owns and operates there own business. There is very little government regulations, but there are great risk for the owner.

 When 2 or more people own and operate a business. They share ideas and, profits.

 Separate legal entity owned by one or more shareholders and managed by a board of directors. There are a lot of government regulations and are very difficult to form.

 Form of business where one, or more people, lease or sell the right to provide a product.

 Al limited liability company combines traditional corporate and partnership characteristics. Members of a limited liability company are given the same advantage of limited liability as shareholders of a corporation, while generally being taxable at the member level, like a partner in a partnership.

 Combining resources and skills to complete a project.

 Form of business where 2 or more people or firms come together to share resources.

 Governed by sub chapter of the internal revenue code (earnings and taxes are pre treated at the individual owners level)

 Business organization for a social, charitable, or educational purposes.