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Forms of Business - Coggle Diagram
Forms of Business
Sole Trader
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Unincorporated
No legal indentity
If anyone sues the business, they'll sue he owner personally
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Public Limited Company
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It's easy for someone to buy enough shares to take over the company - if they can convince enough shareholders to sell
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Franchising
Where a company expands by giving other firms the right sell it's products (or use it's trademarks) in return for a fee or a percentage of the profits
The product manufacturers are known as franchisors and the firms selling their products are franchisees
Some franchises trade under the name of the franchisee but advetise that the sell a particular manufactuer's products
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Private Limited Company
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Owners keep alot of control over how the business is managed and how man people get to share the profits
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Lifestyle Business
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These types of businesses are typically small and may not have a high potential for rapid growth or significant profits
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