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Private or government funded agency that assists new businesses by providing advice or low rent building and supplies:
Small-business incubator
Start new businesses
The owner of the business bears complete legal responsibility for all debts and damages arising from doing business
Limited liability company (LLC)
General partnership
Sole proprietorship and partnership
Unlimited liabilty
Some partners bear no risk
This person assumes all the management duties and has full responsibility for the debts of the partnership:
Small-business incubator
Start new businesses
The owner of the business bears complete legal responsibility for all debts and damages arising from doing business
Limited liability company (LLC)
General partnership
Sole proprietorship and partnership
Unlimited liabilty
Some partners bear no risk
Type of business enterprise that protect memebers against losing all of their personal wealth; members are taxed as if they were in a partnership:
Small-business incubator
Start new businesses
The owner of the business bears complete legal responsibility for all debts and damages arising from doing business
Limited liability company (LLC)
General partnership
Sole proprietorship and partnership
Unlimited liabilty
Some partners bear no risk
A disadvantage of sole proprietorships and partnerships is that they have:
Small-business incubator
Start new businesses
The owner of the business bears complete legal responsibility for all debts and damages arising from doing business
Limited liability company (LLC)
General partnership
Sole proprietorship and partnership
Unlimited liabilty
Some partners bear no risk
Unlimited liability means that:
Small-business incubator
Start new businesses
The owner of the business bears complete legal responsibility for all debts and damages arising from doing business
Limited liability company (LLC)
General partnership
Sole proprietorship and partnership
Unlimited liabilty
Some partners bear no risk
Entrepreneurs are people who:
Small-business incubator
Start new businesses
The owner of the business bears complete legal responsibility for all debts and damages arising from doing business
Limited liability company (LLC)
General partnership
Sole proprietorship and partnership
Unlimited liabilty
Some partners bear no risk
In a limited partnership:
Small-business incubator
Start new businesses
The owner of the business bears complete legal responsibility for all debts and damages arising from doing business
Limited liability company (LLC)
General partnership
Sole proprietorship and partnership
Unlimited liabilty
Some partners bear no risk
These two types of businesses have unlimited liability
Small-business incubator
Start new businesses
The owner of the business bears complete legal responsibility for all debts and damages arising from doing business
Limited liability company (LLC)
General partnership
Sole proprietorship and partnership
Unlimited liabilty
Some partners bear no risk
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