Forms of Business Organization

• Sole Proprietorship 


  A business owned only by a single individual for the practice of trade or profession.
• Partnership


  A business owned two or more individuals pooling their resources together as common fund.
• Corporation

  A business required 5 - 15 incorporators.
• Incorporators


  People who originally formed the corporation.
• Cooperative


  A business owned by group of individuals who also serve as benefactors to the business endeavor.
• Cooperative needs at least fifteen members to function.
• Service Business


  A business that focus on providing intangible products.
• Merchandising Business


  Also known as "Buy and Sell Business".
• Merchandising Business


  Products are bought from manufacturers/merchandisers and sold at higher amount.
• Manufacturing Business


  Materials are bought to create new products.