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
Ai Weiwei says he'll accept Lego donations from fans worldwide, at collection spots being set up in different cities, after the Danish toy-brick company refused to sell the activist artist a bulk order for a forthcoming artwork.
Toyota Motor Corp. has reclaimed the title of the world’s biggest automaker after the first nine months of 2015, dethroning Volkswagen AG which sold the most in the first half of the year.
Copyright activists say Canadians could face lawsuits, fines or worse for ripping the latest Justin Bieber CD or uploading an animated GIF of Jose Bautista's bat-flip under a new trade deal, and they're calling on the newly elected Justin Trudeau to act.
Valeant Pharmaceuticals stock sink again despite a new round of denials of any wrongdoing from the drug company and a promise to set up an independent panel to investigate allegations dogging the company.
A landslide contaminating drinking water for a town in northeastern British Columbia, by filling a creek with dangerous heavy metals is sparking renewed fear around fracking.
Eating processed meat such as sausage and bacon can cause cancer in humans, the World Health Organization’s cancer agency says.
WOULD you like a smile with your burger and fries? That’ll be 15% extra. These days anything less in America will earn you either shame or a pointed question from an irate server. But on October 14th Danny Meyer, head of Union Square Hospitality, a restaurant group, announced that he would put an end to tips in his eateries. This will not affect his customers’ wallets; prices will rise to offset the banned tips. But it is good news for America.
Mr Meyer is going against a trend that started in America just after the civil war. Tipping first caught on in Europe, where guests in fancy British houses would be threatened with gravy on their breeches if they failed to tip the footman. It spread across the pond as American holiday-makers returned to show off exotic European fashions. Once employers responded by slashing wages, workers worked hard to make sure they got their tips. In 1918, 100 waiters were arrested for poisoning the soup of prominent anti-tippers
Today, tipping is entrenched. According to the Economic Policy Institute, 4.3m Americans rely on the generosity of tippers to scrape a...Continue reading
Source:Gulliver http://ift.tt/1GDkRSc
