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Types of ownership (Sole trader (Adv (All profits, All decision), Disadv…
Types of ownership
Sole trader
One person owns the company
Ex. Garden sale
Adv
All profits
All decision
Disadv
All risks
No one to help with making decisions
Unlimited liability
Partnership
ADV
More people to help with choices.
More people to help with paying dept
Disadv
Unlimited liability
Harder to make choices
Multiple people own the company
Ex: Investment groups
Public limited company
ADV
More stock sales
More people to help with choices
Disadv
People may takeover the company
People have access to sale and profit details
Ex. Google, Apple
The stocks and the sales data are publicly available
Private limited company
ADV
Don't have to share business details
Only chosen people can have ownership
Disadv
Can't get sales from other people interested in stocks
Less potential input from stock owners
Stocks can be bought/gotten by specific people
Ex. Facebook, IKEA and Mars