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Types of Businesses # (Sole Proprietorship - A sole proprietorship, also…
Sole Proprietorship - A sole proprietorship, also known as the sole trader, individual entrepreneurship or proprietorship, is a type of enterprise that is owned and run by one person and in which there is no legal distinction between the owner and the business entity.
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General Partnership- (Limited Partnership):
is a business arrangement by which two or more individuals agree to share in all assets, profits and financial and legal liabilities of a jointly-owned business structure.
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S- Corporation - S corporations are
ordinary business corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes.
Con
Must maintain financial exclusivity between private and corporate holdings to avoid personal financial liability
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Pro
Pass-through of losses – corporate losses can pass through to shareholders unlike in a “C” corporation (no double taxation)
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C- Corporation - A C corporation, under United States federal income tax law, refers to any corporation that is taxed separately from its owners.
Pro
Limited liability
Unlimited number and type of shareholders – beneficial when planning a stock offering or requiring many investors
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Co-operative- a farm, business, or other organization which is owned and run jointly by its members, who share the profits or benefits. 
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LLC Limited liability Company - A limited liability company (LLC) is a hybrid between a partnership and corporation.
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Con - Generally required by state law to have written operating agreements – rights and duties of the members much like a partnership agreement
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Perfectly Competitive Market - Pure or perfect competition is a theoretical market structure in which the following criteria are met:
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Buyers have complete or "perfect" information—in the past, present and future—about the product being sold and the prices charged by each firm.
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Pro -
A perfectly competitive firm is beneficial for the consumer as there is no exploitation in ways of product and price discrimination.
Con -
The major drawback of the perfectly competitive market is that there is no incentive or scope for any improvements or innovations due to fixed prices and hence profits as well.
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Monopoly - A monopoly refers to when a company and its product offerings dominate one sector or industry. Monopolies can be considered an extreme result of free-market capitalism in that absent any restriction or restraints, a single company or group becomes large enough to own all or nearly all of the market (goods, supplies, commodities, infrastructure, and assets) for a particular type of product or service. The term monopoly is often used to describe an entity that has total or near-total control of a market. # #
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Monopolistic Competition - Monopolistic competition characterizes an industry in which many firms offer products or services that are similar, but not perfect substitutes.
Pro -
More Competition
Monopolistic competition allows new businesses to venture into most industries without any systematic opposition or challenge. There are lucid laws in place allowing enterprises to be registered, for the business to operate, to sell its products or services and to churn a profit.
Con -
Battle of Perception
In a fight to establish a particular product or service as superior, companies resort to advertising and various types of marketing or promotions. The focus shifts from product or service to grabbing attention.
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Oligopoly - Oligopoly is a market structure with a small number of firms, none of which can keep the others from having significant influence. #
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