Please enable JavaScript.
Coggle requires JavaScript to display documents.
ownership types - Coggle Diagram
ownership types
sole trader
the sole trader owns it
the sole trader is responsible for any financial loss
an objective could be to start up a big company
you are your own boss
the soletrader controls it
unlimited liability
sold product/services
the business owner keeps the profit
have to doall the work yourself
partnership
2-20 people own it
the partnership has control over it
unlimited liability
franchise
franchiser owns it
the franchisee controls it
limited liability
private limited company
limited liability
finance comes from the products and servives they sell
the business owner controls it
the company owner keeps the profit
the business owner is in charge
you cannot sell shares
an advantage is its not unlimited liability