1.02 Types of Businesses

Match it! Select the correct answer from the pull down...Good luck!

Contractual agreement between the parent company and the business operator to sell a company's products or services in a specific geographic area

Taco Bell and Blockbuster would be two examples of this type of business

Owned by one person

The easiest type of business to start but has unlimited liability (can be sued for everything)

Must share the profits and the risks equally

You have to follow strict rules on how to run the business

Owned by two or more people

A law firms and medical practices are typically set up as this type of business