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EBME 1.02 Types

EBME 1.02 Types of Businesses

TermDefinition
Sole Proprietorship A business owned by only one person
Partnership A business owned by two or more people
Franchise A contract between a parent company and a franchisee to use the name and sell the goods or services of the parent company, such as KFC
Non-Profit Organization A business whose goal is to provide a service rather than to make a profit, such as the American Red Cross
Corporation A business considered separate from the owners of the business by law. The owners are the stockholders.
Multinational Corporation A company that does business and has business facilities in many countries, such as Coca-Cola
Created by: mmabe
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