Partnerships and Corporations

Partners share management of business and is liable for all business debts and losses

one partner is only responsible for the funds and part financial responsibility for their investment; not included in the day to day management

all partners are limited liable partners and are NOT responsible for each others debts and legal responsibilities

share of ownership in a corporation

issues stock that can be publicly traded

share of profits of a corporation to its shareholders

controls who can buy and sell its stocks

combining two or more companies that produce the same or similar products

combining of companies that are involved in the different steps of producing a product or marketing a product