Name the type of commercial organisation
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There are three main types of business organizations: sole proprietorship, partnership and corporation. A sole proprietorship is a business owned by one person. ... The disadvantages are: personal liability and no possibility for businesscontinuity...... .
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Sole Proprietorship: The simplest type of business. Sole proprietorships are owned by a single person and are very easy to set up.
Partnership: A type of business owned by two or more people who share responsibilities and profits.
Limited Partnership: A type of business partnership, often between business operators and investors. General Partners run business operations, while Limited Partners provide investments.
Corporation: A type of fully-independent business with shareholders. Requires a lot of work to set up, so is less common for small online businesses.
Limited Liability Company (LLC): A mixture of a partnership and a corporation, designed to make it easier to start small businesses. One of the most popular business types.
Nonprofit Organization: A type of business that uses its profits for charitable purposes. Nonprofits are tax-exempt, but require a lot of paperwork and must follow special rules.
Cooperative (Co-op): A business owned and operated for the benefit of the members of the organization that use its services. Most common for services, but there are online co-op businesses.
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Partnership: A type of business owned by two or more people who share responsibilities and profits.
Limited Partnership: A type of business partnership, often between business operators and investors. General Partners run business operations, while Limited Partners provide investments.
Corporation: A type of fully-independent business with shareholders. Requires a lot of work to set up, so is less common for small online businesses.
Limited Liability Company (LLC): A mixture of a partnership and a corporation, designed to make it easier to start small businesses. One of the most popular business types.
Nonprofit Organization: A type of business that uses its profits for charitable purposes. Nonprofits are tax-exempt, but require a lot of paperwork and must follow special rules.
Cooperative (Co-op): A business owned and operated for the benefit of the members of the organization that use its services. Most common for services, but there are online co-op businesses.
Thank you
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