Respuesta :
The following are various forms of businesses and brief elaboration on how the legal structure of these businesses affect each:
- Proprietorship: A proprietorship business is allowed to have a single owner who is responsible for the functional legalities of the business.
- Partnership: A partnership business can have multiple owners with shared legal responsibilities associated with the business. Other than legal responsibilities, ownership and profits are also legally shared in this type of business.
- Corporations: These businesses do not dispense individual ownership. These are run by multiple stakeholders sharing responsibilities amongst themselves.
- LLCs and LLPs: The legal structure of these businesses is complicated as each player in the business has equal say in the functionality decision of the business.