UNIT 1.2 TYPES OF BUSINESS

The owner of a business personally liable for any business debts, to be settled by selling off personal assets

This is any marketplace where the general public and other companies can buy and/or sell shares.

A joint-stock company owned by shareholders. Its shares are bought/sold by the general public, with approval of owners

It occurs when a business sells all/part of its business to shareholders on a public stock exchange for the 1st time

These are for-profit social enterprises owned/run by their employees, managers, customers to create value for them

A legal difference between the owners and the business entity itself, protecting owners with limited liability

A business alliance of 2 to 20 individual owners who are jointly responsible for the business (varies in each country)

An investor in a partnership but who does not get involved in the daily running and management of the organization.

Any business organisation (privately or publicly held) that is owned by its shareholders, who have limited liability,

Businesses that generate revenue and aim at the benefit of the general public rather than the private shareholders