A sole proprietorship, also known as a sole trader, is owned by one person and operates for their benefit. The owner may operate the business alone or with other people.
A partnership is a business owned by two or more people. In most forms of partnerships, each partner has unlimited liability for the debts incurred by the business. The three most prevalent types of for-profit partnerships are general partnerships, limited partnerships, and limited liability partnerships.
The owners of a corporation have limited liability and the business has a separate legal personality from its owners. Corporations can be either government-owned or privately owned. They can organize either for profit or as not-for-profit organizations.
Often referred to as a "co-op", a cooperative is a limited liability business that can organize for-profit or not-for-profit. A cooperative differs from a corporation in that it has members, not shareholders, and they share decision-making authority.
In recent decades, various states modeled some of their assets and enterprises after business enterprises. In 2003, for example, the People's Republic of China modeled 80% of its state-owned enterprises on a company-type management system
Friendlier laws on medical marijuana use in Canada are already drawing American investment north or the border, and the trend is likely to further ignite if the federal Liberals make good on their promise to allow recreational use of the drug.
China has cut rates again. Europe hints at more quantitative easing. As U.S. Fed chair Yellen plans her next step this week, Don Pittis says pumping money into the economy indiscriminately has failed to reboot the global economy. Can the Canadian government prove that wise fiscal spending will work better?
Energy prices tested new lows over the summer, and oilpatch earnings that begin this week are going to reflect those weak prices.
If you were to get hacked, would it be worse for the hack to affect your Apple account or your Google account? An IT security expert shares his take and explains why.
The United Auto Workers union and General Motors have reached a tentative agreement on a new contract.
A new report by the Canadian Radio-television and Telecommunications Commission says the average Canadian household spent $203 per month on communication services in 2014. That's up $12 per month - or 6.2 per cent - from 2013. Spending on wireless and internet services was up even more.
From Canada's longest federal election in recent memory, to a priceless piece of sports memorabilia that one collector hopes won't fade from glory, it was a busy week in business news. The CBC's Jacqueline Hansen gets you caught up on the week that was in her weekly video recap.
